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161.310 Administrative regulations -- Rules, regulations, and policies of participating employers to conform to chapter -- Retirement incentives.

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Page 1 of 1 161.310 Administrative regulations -- Rules, regulations, and policies of participating employers to conform to chapter -- Retirement incentives. (1) The board of trustees shall from time to time promulgate administrative regulations for the administration of the funds of the retirement system and for the transaction <br>of business. (2) All rules, regulations, or policies adopted by school districts, universities, or other employers participating in the Teachers' Retirement System that pertain to the <br>retirement system shall conform to this chapter. (3) All rules, regulations, or policies adopted, or decisions made, by school districts, universities, or other employers participating in the Teachers' Retirement System <br>that pertain to retirement incentives for members as defined in KRS 161.220(4) <br>shall contain provisions for the school district, university, or other employer to <br>make full payment to the retirement system at the time a member retires for all <br>actuarial obligations that occur to the retirement system as a result of retirement <br>incentive payments. Any payment made by the employer to a member on the <br>condition that the member terminate employment with the employer shall be <br>deemed a retirement incentive for purposes of this subsection if the member retires <br>within six (6) months following the member's termination in employment. This <br>subsection shall not apply to retirement incentive plans adopted by local boards of <br>education prior to December 31, 1997, and to those employees of local school <br>districts who retired on or before July 1, 1998. Effective: July 1, 2008 <br>History: Amended 2008 Ky. Acts ch. 78, sec. 3, effective July 1, 2008. -- Amended 2002 Ky. Acts ch. 275, sec. 5, effective July 1, 2002. -- Amended 1998 Ky. Acts <br>ch. 515, sec. 3, effective July 1, 1998. -- Amended 1994 Ky. Acts ch. 369, sec. 2, <br>effective July 1, 1994. -- Repealed and reenacted 1990 Ky. Acts ch. 476, Pt. V, <br>sec. 490, effective July 13, 1990. -- Recodified 1942 Ky. Acts ch. 208, sec. 1, <br>effective October 1, 1942, from Ky. Stat. sec. 4506b-11.