2015 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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