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21.530 Coordination of Legislators' Retirement and Judicial Retirement Plans -Board.
(1)
(2)
(3)
(4)
For administrative purposes only, as hereinafter provided, the Legislators'
Retirement Plan and the Judicial Retirement Plan shall be coordinated under the
name, Judicial Form Retirement System, but each of the plans shall maintain its
separate identity. A board of trustees of that system hereby is created, to consist of
eight (8) members, three (3) of whom shall be appointed by the Supreme Court, two
(2) by the Governor, one (1) by the President of the Senate, one (1) by the Speaker
of the House of Representatives, and one (1) by the president and speaker jointly.
The appointments by the Governor shall not be from among the members of either
of the plans in the system, or from among the persons drawing benefits from either
of those plans.
(a) The members of the board shall serve for terms of four (4) years, commencing
as of July 1, 1980, and until their successors are chosen and have qualified;
provided that if a member of the board who was a member of one (1) of the
plans in the system when he was appointed ceases to be a member of that
plan, a vacancy shall thereupon be deemed to exist in his position on the
board; and provided further, that the members of the Judicial Retirement
Board in office on July 1, 1980, shall serve for the remainder of the terms for
which they were appointed, as the members of the board created by this
section, in the positions appointable by the Supreme Court and the Governor.
Vacancies shall be filled by the appointing authority for the unexpired term.
(b) A trustee shall not serve more than three (3) consecutive four (4) year terms.
A trustee who has served three (3) consecutive terms may be appointed again
after an absence of four (4) years from the board. The term limits established
by this paragraph shall apply to trustees serving on or after July 1, 2012, and
all terms of office served prior to July 1, 2012, shall be used to determine if
the trustee has exceeded the term limits provided by this paragraph.
The members of the board shall annually elect a chairman. The chairman shall not
serve more than four (4) consecutive years as chairman of the board. A trustee who
has served four (4) consecutive years as chairman of the board may be elected
chairman of the board after an absence of two (2) years from the position.
Gubernatorial appointees, and judicial and legislative appointees who do not receive
an annual salary from the State Treasury in another capacity shall receive an amount
equal to the per diem compensation paid to members of the General Assembly for
each day they are in session. All members shall be reimbursed for their necessary
expenses.
Effective: April 11, 2012
History: Amended 2012 Ky. Acts ch. 75, sec. 6, effective April 11, 2012. -- Amended
2003 Ky. Acts ch. 128, sec. 5, effective June 24, 2003. -- Amended 2000 Ky. Acts
ch. 448, sec. 3, effective July 14, 2000. -- Amended 1994 Ky. Acts ch. 486, sec. 16,
effective July 15, 1994. -- Created 1980 Ky. Acts ch. 407, sec. 19, effective July 1,
1980.
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