.540 Duties of board of trustees.
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21.540 Duties of board of trustees.
Except as provided in KRS 21.550 and 21.560, the board of trustees of the Judicial Form
Retirement System shall be charged with the administration of that system and of KRS
21.350 to 21.510, and shall have all powers necessary thereto, including the power to
promulgate all reasonable regulations, pass upon questions of eligibility and disability,
make employments for services, and to contract for fiduciary liability insurance, and for
investment counseling, actuarial, auditing, and other professional services as required
without the limitations of KRS 45A.045. The administrative expenses shall be paid out of
an administrative account which shall be funded by transfers of the necessary money, in
appropriate ratio, from the funds provided for in KRS 21.550 and 21.560.
Effective: July 15, 1994
History: Amended 1994 Ky. Acts ch. 266, sec. 1, effective July 15, 1994. -- Amended
1990 Ky. Acts ch. 263, sec. 1, effective July 13, 1990. -- Amended 1984 Ky. Acts
ch. 111, sec. 30, effective July 13, 1984. -- Created 1980 Ky. Acts ch. 407, sec. 20,
effective July 1, 1980.
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