Code · Kentucky · Chapter 61 — General provisions as to offices and officers -- social security for public employees -- employees retirement system

61.663 Excess benefit plan -- Purpose -- Excess benefit fund.

96 words·~1 min read·/ky/chapter-61/61-663

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

There is created and established:

(1)An excess benefit plan to be known as the Kentucky Employees Retirement System

Excess Benefit Plan. The plan is created for the purpose of providing the retirement

allowances payable from the retirement system under KRS 61.515 to 61.705 that

would otherwise be limited by 26 U.S.C. sec. 415.

(2)A state fund to be known as the Kentucky Employees Retirement System Excess

Benefit Fund which shall consist of all the assets of the plan.

(3)The administration and assets of the plan shall be as set forth in KRS 61.652.