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6.525 Government of plan -- Combining service credit.

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Page 1 of 2 6.525 Government of plan -- Combining service credit. The Legislators' Retirement Plan shall be governed by KRS 21.560 and by provisions <br>identical in terms with those provided in KRS 21.345(1) and (3), 21.360(1), 21.370 to <br>21.410, 21.420, 21.425, 21.450, 21.460, 21.470, 21.480, 21.525, 21.540, and 61.552 for <br>the Judicial Retirement Plan, except that: <br>(1) Five (5) years of service as a legislator will be sufficient for vesting; and <br>(2) (a) A member of the Legislators' Retirement Plan may combine his service credit with his service credit in the Teachers' Retirement System, Kentucky <br>Employees Retirement System, County Employees Retirement System, and <br>State Police Retirement System at the time of his retirement, according to the <br>procedure of KRS 61.680(2)(a), except that the salary used to determine final <br>compensation shall be based on the creditable compensation in KRS <br>61.510(13) for service while a member of the General Assembly whether or <br>not a member of the Legislators' Retirement Plan. (b) For members contributing on or after June 20, 2005, upon retirement, a member's accounts under the Legislators' Retirement Plan, State Police <br>Retirement System, Kentucky Employees Retirement System, County <br>Employees Retirement System, and Teachers' Retirement System shall be <br>consolidated for the purpose of determining eligibility and amount of benefits <br>as provided in KRS 61.680(2)(a) and in the same manner as for the other <br>retirement systems using the highest salary regardless of the system in which <br>it was earned. For purposes of this paragraph, &quot;retirement&quot; means the month <br>in which the member elects to begin receiving benefits or benefits become <br>payable due to the member's death. (c) A member who has an account in the Legislators' Retirement Plan and the Judicial Retirement Plan may combine his service in both plans for purposes <br>of determining eligibility, the amount of benefits and final compensation. (d) A member of the Legislators' Retirement Plan may retire at the completion of twenty-seven (27) or more years of combined service credit, so long as at least <br>fifteen (15) years of such credit were earned after January 1, 1960, and there <br>shall be no reduction in the retirement allowance because of retirement before <br>the age of sixty-five (65). (e) For the purposes of this section, any reference in the KRS sections listed above to the Judicial Retirement Plan shall also be read as a reference to the <br>Legislators' Retirement Plan, and any reference to the Legislators' Retirement <br>Plan shall also be read as a reference to the Judicial Retirement Plan. (3) Any other statute to the contrary notwithstanding, a member of any state- administered retirement system who has ceased to qualify for membership but <br>subsequently returns to a qualified status, shall, for the purposes of determining the <br>date of entry into the state-administered retirement system for the subsequent period <br>or periods of service, be deemed to have never left the retirement system. Effective: July 15, 2010 Page 2 of 2 History: Amended 2010 Ky. Acts ch. 148, sec. 1, effective July 15, 2010. -- Amended 2005 Ky. Acts ch. 86, sec. 5, effective June 20, 2005. -- Amended 2003 Ky. Acts <br>ch. 128, sec. 3, effective June 24, 2003. -- Amended 2002 Ky. Acts ch. 90, sec. 5, <br>effective July 15, 2002. -- Amended 1998 Ky. Acts ch. 389, sec. 5, effective July 15, <br>1998. -- Amended 1996 Ky. Acts ch. 31, sec. 1, effective July 15, 1996. -- Amended <br>1994 Ky. Acts ch. 266, sec. 7, effective July 15, 1994. -- Amended 1990 Ky. Acts <br>ch. 489, sec. 14, effective July 13, 1990. -- Amended 1988 Ky. Acts ch. 299, sec. 5, <br>effective July 15, 1988. -- Amended 1982 Ky. Acts ch. 326, sec. 13, effective July 1, <br>1982; and ch. 458, sec. 5, effective April 15, 1982. -- Created 1980 Ky. Acts ch. 407, <br>sec. 16, effective July 1, 1980.