18A.230 Definitions. - Kentucky Statutes

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18A.230 Definitions. As used in KRS 18A.230 to 18A.275, unless the context requires otherwise:
(1) "Employee" means a person holding an office, position or employment in state government and agencies thereof and also includes persons in the public school
system; (2) "Income" means earnings of a person while an employee of the state and agencies thereof or public school system; (3) "Asset" means any owned physical object or right having a monetary value;
(4) "Trust fund" means a fund consisting of assets received and held by a government unit or its designated custodian to be expended or invested in accordance with
conditions of the trust; (5) "Deferred compensation" means a method which allows employees to authorize income to be deducted from their current earning and set aside to be paid at a later
date; (6) "Board" means the board of trustees as established by KRS 18A.245; and
(7) "Authority" means the Kentucky Public Employees' Deferred Compensation Authority. Effective: July 15, 2010
History: Amended 2010 Ky. Acts ch. 122, sec. 1, effective July 15, 2010. -- Repealed, reenacted, and amended as KRS 18A.230, 1982 Ky. Acts ch. 448, sec. 46, effective
July 15, 1982. -- Created 1974 Ky. Acts ch. 143, sec. 2. Formerly codified as KRS 18.510.