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Kentucky Revised Statutes Title IX. Counties, Cities, and Other Local Units § 95.852.Police and firefighters' retirement and benefit fund established in cities; name; coverage provided in County Employees Retirement System after August 1, 1988

Current as of January 01, 2021 | Updated by FindLaw Staff

(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.

(2) (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.

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Cite this article: FindLaw.com - Kentucky Revised Statutes Title IX. Counties, Cities, and Other Local Units § 95.852.Police and firefighters' retirement and benefit fund established in cities; name; coverage provided in County Employees Retirement System after August 1, 1988 - last updated January 01, 2021 | https://codes.findlaw.com/ky/title-ix-counties-cities-and-other-local-units/ky-rev-st-sect-95-852/

Read this complete Kentucky Revised Statutes Title IX. Counties, Cities, and Other Local Units § 95.852.Police and firefighters' retirement and benefit fund established in cities; name; coverage provided in County Employees Retirement System after August 1, 1988 on Westlaw

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