Find Legal Information

95.621 Adoption of alternative fund, effect -- Members excluded, how -- Coverage provided in County Employees Retirement System after August 1, 1988.

Download pdf

95.621 Adoption of alternative fund, effect -- Members excluded, how -- Coverage provided in County Employees Retirement System after August 1, 1988. (1) A city of the third class may adopt an ordinance creating a pension fund for firefighters and policemen pursuant to KRS 95.621 to 95.629 as an alternative to the <br>fund established in KRS 95.520 to 95.620. In the event a third-class city does elect <br>to adopt KRS 95.621 to 95.629 all the provisions herein are mandatory. The <br>provisions of KRS 95.620 shall apply to any city of the third class which has <br>adopted KRS 95.621 to 95.629. (2) Any member of the police or fire department serving at the time of passage of the ordinance and not desiring to participate in the fund and its benefits may be <br>excluded by notifying the board of trustees of the pension fund in writing of his <br>desire not to participate within ten (10) days after the effective date of this <br>ordinance. (3) (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, <br>1988, shall participate in the County Employees Retirement System effective <br>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, <br>1988, by placing such employees in the County Employees Retirement <br>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 <br>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 <br>County Employees Retirement System under the alternate participation plan <br>as described in KRS 78.530(3), but such employees may elect to retain <br>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 <br>employment with the city, are employed in hazardous positions. If the police <br>and firefighters are covered by Social Security for their employment with the <br>city, the city may certify that they are employed in hazardous positions; and (f) If the city's participation in the County Employees Retirement System is terminated pursuant to KRS 78.535, the city shall provide retirement benefits <br>pursuant to KRS 95.621 to 95.629 to any of its police and firefighters who <br>have not retained membership in the County Employees Retirement System <br>pursuant to KRS 78.535(4). Effective: July 15, 1988 <br>History: Amended 1988 Ky. Acts ch. 11, sec. 4, effective July 15, 1988. -- Amended 1984 Ky. Acts ch. 177, sec. 5, effective July 13, 1984. -- Amended 1978 Ky. Acts <br>ch. 164, sec. 28, effective June 17, 1978. -- Amended 1974 Ky. Acts ch. 52, sec. 1. -- <br>Created 1966 Ky. Acts ch. 8, secs. 1 and 11. Legislative Research Commission Note. Acts 1988, ch. 11, </p> <BR></DIV><!-- /.col.one --><!-- /.col.two --></DIV><!-- /.col.main --></DIV><!-- /div id = content --> <BR class=clear></DIV> <!-- /div id = livearea --> <DIV></DIV><!-- /.col.one --> <DIV></DIV><!-- /.col.main --> <DIV></DIV><!-- /#content --><BR class=clear> <DIV></DIV><!-- /#livearea --> <!-- Footer--> <DIV id=footer> <DIV class=container> <P class=copyright>Copyright &copy; 2012-2022 Laws9.Com All rights reserved. </P><!-- /.copyright --> <P class=footerlinks><A href="/contactus.html">Contact Us</A> | <A href="/aboutus.html">About Us</A> | <A href="/terms.html">Terms</A> | <A href="/privacy.html">Privacy</A></P><!-- /.footerlinks --> </DIV><!-- /.container --> </DIV><!-- /footer --> </BODY></HTML>