78.625 Filing of contributions, reimbursements, and reports -- Collection -- Suspension of benefits on delinquency.
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78.625 Filing of contributions, reimbursements, and reports -- Collection --
Suspension of benefits on delinquency.
(1) The agency reporting official of the county shall file the following at the retirement
office on or before the tenth day of the month following the period being reported: <br>(a) The employee and employer contributions required under KRS 78.610,
61.565, and 61.702;
(b) The employer contributions and reimbursements for retiree health insurance
premiums required under KRS 61.637; and
(c) A record of all contributions to the system on the forms prescribed by the
systems.
(2)
(a) If the agency reporting official fails to file at the retirement office all <br>contributions and reports on or before the tenth day of the month following <br>the period being reported, interest on the delinquent contributions at the <br>actuarial rate adopted by the board compounded annually, but not less than <br>one thousand dollars ($1,000), shall be added to the amount due the system.
(b) Delinquent contributions, with interest at the rate adopted by the board
compounded annually, or penalties may be recovered by action in the Franklin <br>Circuit Court against the county liable or may, at the request of the board, be <br>deducted from any other moneys payable to the county by any department or <br>agency of the state.
(4) If an agency is delinquent in the payment of contributions due in accordance with
any of the provisions of KRS 78.510 to 78.852, refunds and retirement allowance <br>payments to members of this agency may be suspended until the delinquent <br>contributions, with interest at the rate adopted by the board compounded annually, <br>or penalties have been paid to the system.
Effective: July 15, 2010 <br>History: Amended 2010 Ky. Acts ch. 173, sec. 9, effective July 15, 2010. -- Amended
2009 Ky. Acts ch. 77, sec. 25, effective June 25, 2009. -- Amended 2004 Ky. Acts <br>ch. 36, sec. 34, effective July 13, 2004. -- Amended 2002 Ky. Acts ch. 52, sec. 22, <br>effective July 15, 2002. -- Amended 1998 Ky. Acts ch. 105, sec. 25, effective July <br>15, 1998. -- Amended 1996 Ky. Acts ch. 167, sec. 26, effective July 15, 1996. -- <br>Amended 1992 Ky. Acts ch. 240, sec. 59, effective July 14, 1992. -- Amended 1988 <br>Ky. Acts ch. 349, sec. 38, effective July 15, 1988. -- Amended 1982 Ky. Acts <br>ch. 423, sec. 19, effective July 15, 1982. -- Amended 1976 Ky. Acts ch. 321, secs. 36 <br>and 40. -- Amended 1972 Ky. Acts ch. 116, sec. 69. -- Amended 1968 Ky. Acts <br>ch. 24, sec. 1. -- Created 1964 Ky. Acts ch. 49, sec. 7.
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