2021 Kentucky Revised Statutes
Chapter 161 - School employees -- teachers' retirement and tenure
161.600 Retirement conditions for individual who became member before January 1, 2019 -- Consolidation of accounts -- Applications and forms -- Surviving spouse. (Declared void -- See LRC Note Below) (Effective until January 1, 2022).
Universal Citation:
KY Rev Stat § 161.600 (2021)
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161.600 Retirement conditions for individual who became member before January
1, 2019 -- Consolidation of accounts -- Applications and forms -- Surviving
spouse. (Declared void -- See LRC Note Below)
(1)
(2)
(3)
Effective July 1, 1988, a member of the retirement system may qualify for service
retirement by meeting one (1) of the following requirements:
(a) Attainment of age sixty (60) years and completion of five (5) years of
Kentucky service;
(b) 1.
For an individual who becomes a member before July 1, 2008,
attainment of age fifty-five (55) years and completion of a minimum of
five (5) years of Kentucky service with an actuarial reduction of the
basic allowance of five percent (5%) for each year the member's age is
less than sixty (60) years or for each year the member's years of
Kentucky service credit is less than twenty-seven (27), whichever is the
lesser number; and
2.
For an individual who becomes a member on or after July 1, 2008,
attainment of age fifty-five (55) years and completion of a minimum of
ten (10) years of Kentucky service with an actuarial reduction of the
basic retirement allowance of six percent (6%) for each year the
member's age is less than sixty (60) years or for each year the member's
years of Kentucky service credit is less than twenty-seven (27),
whichever is the lesser number;
(c) Completion of twenty-seven (27) years of Kentucky service. Out-of-state
service earned in accordance with the provisions of KRS 161.515(2) may be
used to meet this requirement; or
(d) Completion of the necessary years of service under provisions of KRS
61.559(2)(c) if the member is retiring under the reciprocity provisions of KRS
61.680. A member retiring under this paragraph who has not attained age
fifty-five (55) shall incur an actuarial reduction of the basic allowance
determined by the system's actuary for each year the member's service credit is
less than twenty-seven (27).
Any person who has been a member in Kentucky for twenty-seven (27) years or
more and who withdraws from covered employment may continue to pay into the
fund each year until the end of the fiscal year in which he reaches the age of sixtyfive (65) years, the current contribution rate based on the annual compensation
received during the member's last full year in covered employment, less any
payment received for accrued sick leave or accrued leave from an employer. The
member shall be entitled to receive a retirement allowance as provided in KRS
161.620 at any time after withdrawing from covered employment and payment of
contributions under this subsection. No member shall make contributions as
provided for in this subsection if the member is at the same time making
contributions to another retirement system in Kentucky supported wholly or in part
by public funds.
Service credit in the Kentucky Employees Retirement System, the State Police
(4)
(5)
(6)
(7)
Retirement System, the Legislators' Retirement Plan, the County Employees
Retirement System, or the Judicial Retirement System may be used in meeting the
service requirements of subsection (1)(a), (b), and (c) of this section, provided the
service is subsequent to July 1, 1956.
Upon death, disability, or service retirement, a member's accounts under all state
supported retirement systems shall be consolidated, as provided by this section and
by KRS 61.680, for the purpose of determining eligibility and amount of benefits,
which shall include medical benefits. Upon determination of benefits, each system
shall pay the applicable percentage of total benefits. The effective date of retirement
under this subsection shall be determined by each retirement system for the portion
of the payments that will be made.
No retirement annuity shall be effective until written application and option election
forms are filed with the retirement office in accordance with administrative
regulations of the board of trustees. A member may withdraw his or her retirement
application, postpone his or her effective retirement date, or change his or her
retirement option if these elections are made no later than the fifteenth day of the
month in which the member has made application for retirement.
The surviving spouse of an active contributing member, if named as beneficiary of
the member's account, may purchase retirement credit that the member was eligible
to purchase prior to the member's death.
Effective January 1, 2019, subsections (1) to (3) of this section do not apply to
individuals who become members of the Teachers' Retirement System on or after
January 1, 2019. Individuals who become members of the Teachers' Retirement
System on or after January 1, 2019, shall receive the retirement benefits prescribed
by KRS 161.235.
Effective: July 14, 2018
History: Amended 2018 Ky. Acts ch. 107, sec. 69, effective July 14, 2018. -- Amended
2008 (1st Extra. Sess.) Ky. Acts ch. 1, sec. 37, effective June 27, 2008. -- Amended
2008 Ky. Acts ch. 78, sec. 13, effective July 1, 2008. -- Amended 2004 Ky. Acts ch.
121, sec. 15, effective July 1, 2004. -- Amended 1996 Ky. Acts ch. 359, sec. 12,
effective July 1, 1996. -- Amended 1994 Ky. Acts ch. 369, sec. 16, effective July 1,
1994. -- Amended 1990 Ky. Acts ch. 442, sec. 13, effective July 1, 1990; and ch.
476, Pt. V, sec. 524, effective July 13, 1990. -- Amended 1988 Ky. Acts ch. 240, sec.
1, effective July 15, 1988; ch. 260, sec. 1, effective July 15, 1988; and ch. 363, sec.
14, effective July 1, 1988. -- Amended 1986 Ky. Acts ch. 440, sec. 11, effective July
1, 1986. -- Amended 1982 Ky. Acts ch. 114, sec. 1, effective July 15, 1982; and ch.
326, sec. 14, effective July 1, 1982. -- Amended 1978 Ky. Acts ch. 43, sec. 1,
effective June 17, 1978; and ch. 152, sec. 12, effective March 28, 1978. -- Amended
1976 Ky. Acts ch. 351, sec. 15, effective July 1, 1976. -- Amended 1974 Ky. Acts ch.
395, sec. 15. -- Amended 1972 Ky. Acts ch. 82, sec. 17. -- Amended 1968 Ky. Acts
ch. 136, sec. 9. -- Amended 1964 Ky. Acts ch. 43, sec. 13. -- Amended 1962 Ky.
Acts ch. 64, sec. 12. -- Amended 1960 Ky. Acts ch. 44, sec. 12. -- Recodified 1942
Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. sec. 4506b-41.
Legislative Research Commission Note (7/13/90). The Act amending this section
prevails over the repeal and reenactment in House Bill 940, Acts ch. 476, pursuant to
sec. 653(1) of Acts ch. 476.
Legislative Research Commission Note. This section was amended by three 1988 Acts,
part of which conflict and cannot be compiled together. Pursuant to KRS 446.250,
the later enactment prevails.
Legislative Research Commission Note (12/13/2018). On December 13, 2018, the
Kentucky Supreme Court ruled that the passage of 2018 SB 151 (2018 Ky. Acts ch.
107), did not comply with the three-readings rule of Kentucky Constitution Section
46 and that the legislation is, therefore, constitutionally invalid and declared void.
That ruling applies to changes made to this statute in that Act.
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