2013 Kentucky Revised Statutes CHAPTER 161 - SCHOOL EMPLOYEES -- TEACHERS' RETIREMENT AND TENURE 161.310 Administrative regulations -- Rules, regulations, and policies of participating employers to conform to chapter -- Retirement incentives.
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161.310 Administrative regulations -- Rules, regulations, and policies of
participating employers to conform to chapter -- Retirement incentives.
(1)
(2)
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The board of trustees shall from time to time promulgate administrative
regulations for the administration of the funds of the retirement system and for
the transaction of business.
All rules, regulations, or policies adopted by school districts, universities, or
other employers participating in the Teachers' Retirement System that pertain
to the retirement system shall conform to this chapter.
All rules, regulations, or policies adopted, or decisions made, by school
districts, universities, or other employers participating in the Teachers'
Retirement System that pertain to retirement incentives for members as
defined in KRS 161.220(4) shall contain provisions for the school district,
university, or other employer to make full payment to the retirement system at
the time a member retires for all actuarial obligations that occur to the
retirement system as a result of retirement incentive payments. Any payment
made by the employer to a member on the condition that the member
terminate employment with the employer shall be deemed a retirement
incentive for purposes of this subsection if the member retires within six (6)
months following the member's termination in employment. This subsection
shall not apply to retirement incentive plans adopted by local boards of
education prior to December 31, 1997, and to those employees of local school
districts who retired on or before July 1, 1998.
Effective:July 1, 2008
History: Amended 2008 Ky. Acts ch. 78, sec. 3, effective July 1, 2008. -- Amended
2002 Ky. Acts ch. 275, sec. 5, effective July 1, 2002. -- Amended 1998 Ky. Acts
ch. 515, sec. 3, effective July 1, 1998. -- Amended 1994 Ky. Acts ch. 369,
sec. 2, effective July 1, 1994. -- Repealed and reenacted 1990 Ky. Acts ch. 476,
Pt. V, sec. 490, effective July 13, 1990. -- Recodified 1942 Ky. Acts ch. 208,
sec. 1, effective October 1, 1942, from Ky. Stat. sec. 4506b-11.
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