161.607 Employment in position covered by other Kentucky retirement system.
281 words·~1 min read·
/ky/chapter-161/161-607A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(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, 1976, 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, 1976, 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.