Ky. Rev. Stat. § 161.607

Current through 2022 Ky. Acts ch. 240
Section 161.607 - Employment in position covered by other Kentucky retirement system
(1) Any member of the Teachers' Retirement System who enters employment covered by the Kentucky Employees Retirement System, the State Police Retirement System, or the County Employees Retirement System, prior to July 1, may retain membership in the Teachers' Retirement System instead of joining the new system.
(2) Retention of membership in the Teachers' Retirement System by any member of the General Assembly who upon election is a contributing member of the Teachers' Retirement System shall be effected by conforming with KRS 61.680(4)(c). Members of the General Assembly who retain membership shall make retirement contributions based upon their annual compensation as defined under KRS 161.220 or on their creditable compensation as defined under KRS 61.510, whichever is the larger amount. Service as a member of the General Assembly may be used to meet the service requirements of KRS 61.680(2)(a) regardless of the system to which contributions are made by the member.
(3) Any member of the Teachers' Retirement System entering employment as described in subsection (1) of this section must exercise the option within ninety (90) days of the beginning of such employment.
(4) Persons who enter service covered by the Teachers' Retirement System prior to July 1, and who hold membership in a Kentucky retirement system financed in whole or part with public funds may retain membership in that system providing the statutes and regulations governing said system make continued membership possible.
(5) Any person who has elected an option provided in this section may cancel such election and gain membership in the system which normally covers the position in which currently employed, provided that such cancellation of option election must be completed prior to January 1, 1977.

KRS 161.607

Effective:7/1/2000
Amended 2000, Ky. Acts ch. 498, sec. 17, effective7/1/2000. -- Repealed and reenacted 1990 Ky. Acts ch. 476, Pt. V, sec. 527, effective 7/13/1990. --Amended 1982 Ky. Acts ch. 458, sec. 6, effective 4/15/1982. -- Amended 1980 Ky. Acts ch. 206, sec. 8, effective 7/1/1980. -- Amended 1976 Ky. Acts ch. 351, sec. 17, effective 7/1/1976. -- Amended 1968 Ky. Acts ch. 136, sec. 10. --Created 1964 Ky. Acts ch. 43, sec. 21.