KRS 61.515

Retirement system established -- Fund created

Applied in 3 court decisions — leading case Board of Trustees v. Commonwealth, Board of Claims (2008)

Most recently applied in Kentucky Employees Retirement System v. Seven Counties Services, Inc. (In re Seven Counties Services, Inc.) (May 2014)

History: Amended 2022 Ky

How often courts cite this section

citing decisions per year

Court decisions citing this, by year. The dip in the last several years is a data-coverage gap, not a real trend — our corpus holds fewer opinions from the most recent years, so recent citations are undercounted.

There is hereby created and established:

(1) A retirement system for employees to be known as the "Kentucky Employees Retirement System" by and in which name it shall, pursuant to the provisions of KRS 61.510 to 61.705, transact all its business and shall have the powers and privileges of a corporation; and (2) (a) A fund, called the "Kentucky Employees Retirement Fund," which shall consist of all the assets of the system as set forth in KRS 61.570 to 61.585.

(b) All assets received in the fund shall be deemed trust funds to be held and applied solely as provided in KRS 61.510 to 61.705.

(c) The assets in the fund shall be attributable to members participating in the Kentucky Employees Retirement System in both hazardous positions as defined in KRS 61.592 and nonhazardous positions as defined in KRS 61.510, and when payment is made from the fund:

1. No assets attributable to members in hazardous positions shall be used to pay benefits to members in nonhazardous positions; and 2. No assets attributable to members in nonhazardous positions shall be used to pay benefits to members in hazardous positions. Effective:April 14, 2022

Official source: Kentucky General Assembly. Reproduced from public-domain Kentucky statutes; confirm against the official source for the current text. Not legal advice.