2013 Kentucky Revised Statutes CHAPTER 95 - CITY POLICE AND FIRE DEPARTMENTS 95.852 Retirement and benefit fund established -- Name -- Coverage provided in County Employees Retirement System after August 1, 1988.
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95.852 Retirement and benefit fund established -- Name -- Coverage provided
in County Employees Retirement System after August 1, 1988.
(1)
(2)
There is hereby established in cities of the second class, a retirement and
benefit fund for members of the police and fire departments, their dependents
and beneficiaries, unless the policemen and firefighters are included in the
membership of the County Employees Retirement System and certified to be
working in hazardous positions. The fund shall be established as of July 1,
1956, and shall be known as the "Policemen's and Firefighters' Retirement
Fund of the City of ______." In such name all of its business shall be
transacted, and in such name or nominee name as provided by KRS 286.3-225
all of its moneys invested and all of its accumulated reserves consisting of
cash, securities, and other property shall be held.
(a) After August 1, 1988, no new pension fund shall be created pursuant to
this section and cities which were covered by this section on or prior to
August 1, 1988, shall participate in the County Employees Retirement
System effective August 1, 1988;
(b) Cities which were covered by this section on or prior to August 1, 1988,
shall provide for the retirement of police or firefighters rehired after August
1, 1988, by placing such employees in the County Employees Retirement
System;
(c) Cities which were covered by this section on or prior to August 1, 1988,
shall place police or firefighters newly hired after August 1, 1988, in the
County Employees Retirement System;
(d) Cities which were covered by this section on or prior to August 1, 1988,
shall offer employees hired on or prior to August 1, 1988, membership in
the County Employees Retirement System under the alternate
participation plan as described in KRS 78.530(3), but such employees
may elect to retain coverage under this section;
(e) The city shall certify that all police and firefighters placed in the County
Employees Retirement System are employed in hazardous positions; and
(f) If the city's participation in the County Employees Retirement System is
terminated pursuant to KRS 78.535, the city shall provide retirement
benefits pursuant to KRS 95.851 to 95.884 and KRS 95.991 to any of its
police and firefighters who have not retained membership in the County
Employees Retirement System pursuant to KRS 78.535(4).
Effective:July 15, 1988
History: Amended 1988 Ky. Acts ch. 11, sec. 5, effective July 15, 1988. -Amended 1984 Ky. Acts ch. 177, sec. 1, effective July 13, 1984. -- Amended
1980 Ky. Acts ch. 307, sec. 16, effective July 15, 1980. -- Amended 1978 Ky.
Acts ch. 164, sec. 49, effective June 17, 1978. -- Created 1956 Ky. Acts ch. 16,
sec. 1, effective July 1, 1956.
Legislative Research Commission Note (7/12/2006). 2006 Ky. Acts ch. 247
instructs the Reviser of Statutes to adjust KRS references throughout the
statutes to conform with the 2006 renumbering of the Financial Services Code,
KRS Chapter 286. Such an adjustment has been made in this statute.
Legislative Research Commission Note. Acts 1988, ch. 11, 19, provides: "In
order that city employees with a choice can make an informed decision on
whether or not to join the county employees retirement system, Kentucky
retirement systems shall conduct briefings for each affected pension system on
the provisions of this Act. Each employee shall receive a written summary of the
retirement benefits which the county employees retirement system offers, and
each employee shall be given the opportunity to attend an oral presentation. All
such presentations shall be completed by October 15, 1988, and each affected
employee shall make his decision by November 1, 1988. Failure of an employee
subject to the provisions of this Act to receive a written summary or to attend an
oral briefing shall in no way invalidate any of the provisions of this Act."
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