2021 Kentucky Revised Statutes Chapter 61 - General provisions as to offices and officers -- social security for public employees -- employees retirement system 61.692 Benefits not to be reduced or impaired for members who began participating before January 1, 2014 -- Exceptions -- Amendment of benefits and rights. (Declared void -- See LRC Note Below).
Download as PDF
61.692
Benefits not to be reduced or impaired for members who began
participating before January 1, 2014 -- Exceptions -- Amendment of benefits
and rights. (Declared void -- See LRC Note Below)
(1)
(2)
(3)
For members who begin participating in the Kentucky Employees Retirement
System prior to January 1, 2014, it is hereby declared that in consideration of the
contributions by the members and in further consideration of benefits received by
the state from the member's employment, KRS 61.510 to 61.705 shall constitute an
inviolable contract of the Commonwealth, and the benefits provided therein shall
not be subject to reduction or impairment by alteration, amendment, or repeal,
except:
(a) As provided in KRS 6.696; and
(b) The General Assembly reserves the right to amend, reduce, or suspend any
legislative changes to the provisions of KRS 61.510 to 61.705 that become
effective on or after July 1, 2018.
(a) For members who begin participating in the Kentucky Employees Retirement
System on or after January 1, 2014, the General Assembly reserves the right to
amend, suspend, or reduce the benefits and rights provided under KRS 61.510
to 61.705 if, in its judgment, the welfare of the Commonwealth so demands,
except that the amount of benefits the member has accrued at the time of
amendment, suspension, or reduction shall not be affected.
(b) For purposes of this subsection, the amount of benefits the member has
accrued at the time of amendment, suspension, or reduction shall be limited to
the accumulated account balance the member has accrued at the time of
amendment, suspension, or reduction.
(c) The provisions of this subsection shall not be construed to limit the General
Assembly's authority to change any other benefit or right specified by KRS
61.510 to 61.705, except the benefits specified by paragraph (b) of this
subsection, for members who begin participating in the Kentucky Employees
Retirement System on or after January 1, 2014.
The provisions of this section shall not be construed to limit the General Assembly's
authority to amend, reduce, or suspend the benefits and rights of members of the
Kentucky Employees Retirement System as provided by KRS 61.510 to 61.705 that
the General Assembly had the authority to amend, reduce, or suspend, prior to July
1, 2013.
Effective: July 14, 2018
History: Amended 2018 Ky. Acts ch. 107, sec. 33, effective July 14, 2018. -- Amended
2013 Ky. Acts ch. 120, sec. 70, effective July 1, 2013. -- Amended 1996 Ky. Acts ch.
167, sec. 21, effective July 15, 1996. -- Amended 1993 (1st Extra. Sess.) Ky. Acts ch.
4, sec. 78, effective September 16, 1993. -- Amended 1988 Ky. Acts ch. 349, sec. 29,
effective July 15, 1988. -- Amended 1976 Ky. Acts ch. 321, sec. 40. -- Created 1972
Ky. Acts ch. 116, sec. 60.
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.
Disclaimer: These codes may not be the most recent version. Kentucky may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
