2014 Kentucky Revised Statutes CHAPTER 61 - GENERAL PROVISIONS AS TO OFFICES AND OFFICERS -- SOCIAL SECURITY FOR PUBLIC EMPLOYEES -- EMPLOYEES RETIREMENT SYSTEM 61.527 Extension of system to include police court judges and their present and future survivors covered as of December 31, 1977, under retirement plans established by cities of second or third class -- Procedure for transfer of coverage to state system.
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61.527 Extension of system to include police court judges and their present
and future survivors covered as of December 31, 1977, under retirement
plans established by cities of second or third class -- Procedure for
transfer of coverage to state system.
(1)
(2)
(3)
(4)
(5)
(6)
The system shall extend to and embrace police court judges and present and
future survivors who are covered as of December 31, 1977, by pension plans
established under KRS 26.650 or 26.652 and which existed as of July 31,
1976.
Within thirty (30) days after January 1, 1978, the city legislative body of each
city with a pension plan established under KRS 26.650 or 26.652 shall furnish
the system a record of the period of service and contributions of each person
covered by the plan, and, for any survivor who is benefiting from the plan, the
monthly pension amount being received and any other information requested
by the system.
Upon receiving the information required by subsection (2) of this section, the
system shall credit each person with service sufficient to guarantee that he or
his survivors shall receive at a minimum the benefits to which he would be
entitled under KRS 26.660, except that the service required for vesting shall be
that required by the system rather than that required by KRS 26.650 or 26.652.
In addition, each individual's contributions to the plan under which he was
covered as of December 31, 1977, shall be credited to his account in the
system.
Each person covered by the system under this section shall have the same
rights and responsibilities as any other member or retiree of the system but at
no additional cost to the person.
Each city with a pension plan established under KRS 26.650 or 26.652 as of
July 31, 1976, shall pay to the system an amount equal to that which would
have existed in the police judge pension fund as of December 31, 1977, if the
fund contained:
(a) The actual amount paid by each police judge making contributions to the
fund, and
(b) Contributions by the city equal to the amount which would have been paid
if the city had contributed to the fund at the rate provided for under KRS
61.565.
Within five (5) years after the system makes its determination, each city shall
pay to the system the amount computed by the system under subsection (5) of
this section. Any additional cost of funding benefits provided under subsection
(3) of this section shall be paid by the state.
Effective:July 14, 1992
History: Amended 1992 Ky. Acts ch. 240, sec. 14, effective July 14, 1992. -Created 1976 (1st Extra. Sess.) Ky. Acts ch. 23, sec. 1, effective January 1,
1978.
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