2013 Kentucky Revised Statutes CHAPTER 161 - SCHOOL EMPLOYEES -- TEACHERS' RETIREMENT AND TENURE 161.522 Survivor of member retired for disability may elect annuity.
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161.522 Survivor of member retired for disability may elect annuity.
Upon the death of a member retired for disability who had a minimum of
twenty-seven (27) years of service at the time of death, except as provided in KRS
161.661(6), the spouse, if named as the primary beneficiary of the member's
account, shall be entitled to elect, in lieu of a refund of the member's account, an
annuity actuarially equivalent to the annuity that would have been paid to the
deceased member had retirement for service been effective on the day immediately
preceding the member's death. This option shall be available only during the
entitlement period described under KRS 161.661(3) and (4) prior to the recalculation
of the member's disability allowance under KRS 161.661(5). In selecting this right,
the spouse shall be limited to selecting an option providing a straight life annuity with
refundable balance or a term certain option. There shall be a monthly minimum
allowance of three hundred dollars ($300) as the basic straight life annuity. This
section applies to surviving spouses of members who were receiving benefit
payments under KRS 161.520 as of June 30, 1988, and to surviving spouses of
members who die on or after July 1, 1984, except that the member shall have been
retired for disability with a minimum of thirty (30) years of service if either of these
two (2) conditions were met prior to July 1, 1990.
Effective:July 1, 2008
History: Amended 2008 Ky. Acts ch. 78, sec. 8, effective July 1, 2008. -- Amended
2002 Ky. Acts ch. 275, sec. 15, effective July 1, 2002. -- Amended 1996 Ky.
Acts ch. 359, sec. 6, effective July 1, 1996. -- Amended 1994 Ky. Acts ch. 369,
sec. 9, effective July 1, 1994. -- Amended 1990 Ky. Acts ch. 442, sec. 8,
effective July 13, 1990; and ch. 476, Pt. V, sec. 511, effective July 13, 1990. -Created 1984 Ky. Acts ch. 253, sec. 14, effective July 1, 1984.
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