95.852 Police and firefighters' retirement and benefit fund established in cities --

322 words·~1 min read·/ky/95-852

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

Name -- Coverage provided in County Employees Retirement System after

August 1, 1988.

(1)There is hereby established in cities, a retirement and benefit fund for members of

the police and fire departments, their dependents and beneficiaries, unless the

policemen and firefighters are included in the membership of the County

Employees Retirement System and certified to be working in hazardous positions.

The fund shall be established as of July 1, 1956, and shall be known as the

"Policemen's and Firefighters' Retirement Fund of the City of ______." In such

name all of its business shall be transacted, and in such name or nominee name as

provided by KRS 286.3-225 all of its moneys invested and all of its accumulated

reserves consisting of cash, securities, and other property shall be held.

(a)After August 1, 1988, no new 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; and

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

Employees Retirement System are employed in hazardous positions.