161.340 Officers of board -- Personnel of system -- Contracting for services and
660 words·~3 min read·
/ky/161-340A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
commodities -- Liability insurance -- Leave balances.
(a)The board of trustees shall elect from its membership a chairperson and a vice
chairperson on an annual basis as prescribed by the administrative regulations
of the board of trustees. The chairperson shall not serve more than four
consecutive years as chairperson or vice chairperson of the board. The vice
chairperson shall not serve more than four
(4)consecutive years as
chairperson or vice chairperson of the board. A trustee who has served four
(4)consecutive years as chairperson or vice chairperson of the board may be
elected chairperson or vice chairperson of the board after an absence of two
(2)years from the position.
(b)The board of trustees shall employ an executive secretary by means of a
contract not to exceed a period of four
(4)years and fix the compensation and
other terms of employment for this position without limitation of the
provisions of KRS Chapters 18A, 45A, 56, and KRS 64.640. The executive
secretary shall be the chief administrative officer of the board. The executive
secretary, at the time of employment, shall be a graduate of a four
(4)year
college or university, and shall possess qualifications as the board of trustees
may require. The executive secretary shall not have held by appointment or
election an elective public office within the five
(5)year period next preceding
the date of employment.
(2)The board shall employ clerical, administrative, and other personnel as are required
to transact the business of the retirement system. The compensation of all persons
employed by the board shall be paid at the rates and in amounts as the board
approves. Anything in the Kentucky Revised Statutes to the contrary
notwithstanding, the power over and the control of determining and maintaining an
adequate complement of employees in the system shall be under the exclusive
jurisdiction of the board of trustees.
(a)Except as provided by KRS 161.430(7), the board shall contract for actuarial,
auditing, legal, medical, investment counseling, and other professional or
technical services, insurance, and commodities, as are required to carry out the
obligations of the board in accordance with the provisions of this chapter,
subject to KRS Chapters 45, 45A, 56, and 57 but without the limitations
provided by KRS Chapters 12 and 13B.
(b)The board shall provide for legal counsel and other legal services as may be
required in defense of trustees, officers, and employees of the system who
may be subjected to civil action arising from the performance of their legally
assigned duties if counsel and services are not provided by the Attorney
General. The hourly rate of reimbursement for any contract for legal services
under this paragraph shall not exceed the maximum hourly rate provided in
the Legal Services Duties and Maximum Rate Schedule promulgated by the
Government Contract Review Committee established pursuant to KRS
45A.705, unless a higher rate is specifically approved by the secretary of the
Finance and Administration Cabinet or his or her designee.
(4)The board of trustees may expend funds from the expense fund as necessary to
insure the trustees, employees, and officials of the Teachers' Retirement System
against any liability arising out of an act or omission committed in the scope and
course of performing legal duties. Insurance may be obtained or provided by
contracting with an insurance carrier, by self-insurance, by indemnification, or by
any combination thereof.
(5)Notwithstanding any statute to the contrary, employees shall not be considered
legislative agents as defined in KRS 6.611.
(6)Notwithstanding any statute to the contrary, the executive branch of government
shall accept from the Teachers' Retirement System all accrued annual and sick leave
balances and service credits of employees leaving the Teachers' Retirement System
and accepting appointments within the executive branch. These leave balances shall
be attested to by the Teachers' Retirement System and shall not exceed those limits
established by statute or administrative regulation for employees of the executive
branch.