2006 Kentucky Revised Statutes - .705   Death benefit -- Designation of beneficiary.

61.705 Death benefit -- Designation of beneficiary. (1) Upon the death of a retired member of the Kentucky Employees Retirement System, County Employees Retirement System, or State Police Retirement System who was receiving a monthly retirement allowance based on a minimum of forty-eight (48) months of service or whose retirement allowance based on a minimum of forty- eight (48) months was suspended in accordance with KRS 61.637, a death benefit of five thousand dollars ($5,000) shall be paid. If the retired member had more than one (1) account in the Kentucky Employees Retirement System, County Employees Retirement System, or State Police Retirement System, the system shall pay only one (1) five thousand dollar ($5,000) death benefit. Application for the death benefit made to the Kentucky Retirement Systems shall include acceptable evidence of death and of the eligibility of the applicant to act on the deceased retired member's behalf. (2) The death benefit shall be paid to a beneficiary named by the retired member. Upon retirement or any time thereafter, the retired member may designate on the form prescribed by the board, death benefit designation, an individual, his estate, a trust or trustee as the beneficiary of the death benefit. The beneficiary for the death benefit may or may not be the same beneficiary designated in accordance with KRS 61.590(1). If the beneficiary designated under this section dies prior to the member or if the beneficiary was the spouse and they were divorced on the date of the retired member's death, the retired member's estate shall become the beneficiary, unless the retired member has filed a subsequent death benefit designation. Effective: July 15, 2002 History: Amended 2002 Ky. Acts ch. 52, sec. 16, effective July 15, 2002. -- Amended 2000 Ky. Acts ch. 385, sec. 29, effective July 14, 2000. -- Amended 1998 Ky. Acts ch. 123, sec. 2, effective July 15, 1998. -- Amended 1988 Ky. Acts ch. 349, sec. 30, effective July 15, 1988. -- Amended 1982 Ky. Acts ch. 423, sec. 14, effective July 15, 1982. -- Created 1980 Ky. Acts ch. 186, sec. 18, effective July 15, 1980.