Find Legal Information

78.650 Retirement allowance account.

Download pdf

78.650 Retirement allowance account. The retirement allowance account shall be the account in which shall be accumulated all <br>employer contributions and amounts transferred from the members' contribution account, <br>and to which all income from the invested assets of the system shall be credited. From <br>this account shall be paid the expenses of the system and the board in administration of <br>the system, retirement allowances, and any other benefits payable after a member's <br>retirement and from this account shall be transferred to the members' contribution account <br>the interest credited annually to each member's individual account as provided by KRS <br>78.510 to 78.852. Effective: July 14, 1992 <br>History: Amended 1992 Ky. Acts ch. 240, sec. 60, effective July 14, 1992. -- Created 1958 Ky. Acts ch. 167, sec. 15, effective June 19, 1958.