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Code · Kentucky · Chapter 161 — School employees -- teachers' retirement and tenure

161.595 Credit upon service retirement.

126 words·~1 min read·/ky/chapter-161/161-595

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

(1)Upon service retirement, a member of the Teachers' Retirement System may obtain
credit for all or any part of the service otherwise creditable under the Kentucky
Employees Retirement System, the County Employees Retirement System, or in the
service of the United States government for which service credit is not otherwise
given, upon the payment by the member of the full actuarial cost of the service
credit purchased as defined in KRS 161.220(22). Such payments shall not be picked
up, as described in KRS 161.540(2).
(2)The amount paid under this section shall be considered as accumulated
contributions of the individual member.
(3)No person shall be allowed credit for the same period of service in more than one
(1)of these three
(3)retirement systems.
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