2014 Kentucky Revised Statutes
CHAPTER 95 - CITY POLICE AND FIRE DEPARTMENTS
95.622 Pension fund created in cities adopting provisions of KRS 95.621 to 95.629 -- Board of trustees, members, officers, powers.
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<![CDATA[95.622 Pension fund created in cities adopting provisions of KRS 95.621 to
95.629 -- Board of trustees, members, officers, powers.
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There shall be created in cities that elected to adopt the provisions of KRS
95.621 to 95.629 a policemen's and firefighter's pension fund, and a board of
trustees for that fund.
In these cities where there are fewer than six (6) active members of the
pension fund, the board of trustees of the policemen's and firefighter's pension
fund shall be composed of the mayor, city treasurer, and one (1) retired
member each from the police and fire departments shall be elected by the
respective retired members of those departments annually by ballot, one (1)
from each department, and shall serve for one (1) year and until their
successors are elected and qualified. If there are six (6) or more active
members of the fund, there shall be two (2) additional board members who
shall be one (1) active member of the fund from each department elected by
the active members of the fund from the respective departments and who shall
serve for one (1) year and until their successors are elected and qualified. If all
of the six (6) or more active members or all of the retired members are from
one (1) department, then both of the active member board members or both of
the retired board members, as the case may be, shall be elected from that
department. The board shall select from their number a president and a
secretary. The board of trustees shall be the trustees of the pension fund and
of all moneys donated or paid for the relief or pensioning of members of the
police and fire departments. It may do all things necessary to protect the fund.
The board of trustees may draw the pension fund from the treasury and invest
it, in whole or in part, in the name of the board or nominee name as provided
by KRS 286.3-225, as the board deems most advantageous for the objects of
the fund, in a local government pension investment fund created pursuant to
KRS 95.895 or in any other securities in which trustees are permitted to invest
trust funds under the laws of this state. The securities shall be subject to the
order of the board.
The board of trustees membership shall be restructured according to the
provisions of this section at the time of the next scheduled election of board
members after July 15, 1990.
Effective:January 1, 2015
History: Amended 2014 Ky. Acts ch. 92, sec. 134, effective January 1, 2015. -Amended 1990 Ky. Acts ch. 83, sec. 3, effective July 13, 1990. -- Amended
1980 Ky. Acts ch. 307, sec. 14, effective July 15, 1980. -- Amended 1978 Ky.
Acts ch. 164, sec. 29, effective June 17, 1978. -- Created 1966 Ky. Acts ch. 8,
sec. 2.
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.
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