95.520 Pension fund -- Board of trustees -- Coverage provided in County

335 words·~2 min read·/ky/95-520

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

Employees Retirement System after August 1, 1988.

(1)In cities meeting the criteria set out in KRS 95.518, there shall be a policemen's and

firefighters' pension fund, and a board of trustees for that fund unless the policemen

and firefighters are included in the membership of the County Employees

Retirement System.

(2)The board of trustees is the trustee of the pension fund, and has exclusive control

and management of the pension fund and of all moneys donated or paid for the

relief or pensioning of members of the police and fire departments. It may do all

things necessary to protect the fund.

(a)After August 1, 1988, no new locally administered pension fund shall be

created pursuant to this section, and cities which were covered by this section

on or prior to August 1, 1988, shall participate in the County Employees

Retirement System effective August 1, 1988.

(b)Cities which were covered by this section on or prior to August 1, 1988, shall

provide for the retirement of police or firefighters rehired after August 1,

1988, by placing such employees in the County Employees Retirement

System.

(c)Cities which were covered by this section on or prior to August 1, 1988, shall

place police or firefighters newly hired after August 1, 1988, in the County

Employees Retirement System.

(d)Cities which were covered by this section on or prior to August 1, 1988, shall

offer employees hired on or prior to August 1, 1988, membership in the

County Employees Retirement System under the alternate participation plan

as described in KRS 78.530(3), but such employees may elect to retain

coverage under this section.

(e)The city shall certify that all police and firefighters placed in the County

Employees Retirement System, and not covered by Social Security for their

employment with the city, are employed in hazardous positions. If the police

and firefighters are covered by Social Security for their employment with the

city, the city may certify that they are employed in hazardous positions.