2013 Kentucky Revised Statutes CHAPTER 61 - GENERAL PROVISIONS AS TO OFFICES AND OFFICERS -- SOCIAL SECURITY FOR PUBLIC EMPLOYEES -- EMPLOYEES RETIREMENT SYSTEM 61.705 Death benefit -- Designation of beneficiary -- Debt owed at death -- Assignment of benefit.
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61.705 Death benefit -- Designation of beneficiary -- Debt owed at death -Assignment of benefit.
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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.
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, a person, the
retired member's estate, a trust or trustee, or a licensed funeral home, 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 is a person and that
person dies prior to the member, or if the beneficiary was the retired member's
spouse and they were divorced on the date of the retired member's death, then
the retired member's estate shall become the beneficiary, unless the retired
member has filed a subsequent death benefit designation. If a licensed funeral
home is designated as beneficiary and the licensed funeral home cannot be
reasonably identified or located by Kentucky Retirement Systems at the time of
the retired member's death, then the retired member's estate shall become the
beneficiary of the death benefit.
If, at the time of the retired member's death, a debt to the Kentucky Retirement
Systems remains on his or her account, the balance owed shall be deducted
from the five thousand dollars ($5,000) death benefit.
Upon the death of a retired member, the death benefit provided pursuant to
this section may be assigned by the designated beneficiary to a bank or
licensed funeral home.
Effective:June 8, 2011
History: Amended 2011 Ky. Acts ch. 68, sec. 1, effective June 8, 2011. -Amended
2009
Ky.
Acts
ch.
https://health.howstuffworks.com/tv/my-teens-a-nightmare77, sec. 23, effective
June 25, 2009. -- 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.
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