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67A.630 Payment of annuities.

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67A.630 Payment of annuities. Any service retirement annuity, disability retirement annuity, or any other annuity <br>provided herein shall be payable in equal monthly installments as life annuities, and shall <br>not be increased, decreased, revoked, or repealed, except for error, or except where <br>specifically otherwise provided. The cost of providing death benefits for members in <br>receipt of retirement annuities shall not be construed as a reduction in the life annuity <br>payable to the member. The first payment of an annuity shall be made for the fraction of a <br>month elapsing until the end of the first month; and the last payment shall be made as of <br>the end of the month in which death occurs. Effective: July 1, 1974 <br>History: Created 1974 Ky. Acts ch. 106, sec. 28, effective July 1, 1974.