61.580 Retirement allowance account. - Kentucky Statutes

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61.580 Retirement allowance account. The retirement allowance account shall be the account in which shall be accumulated all
employer contributions and amounts transferred from the members' contribution account,
and to which all income from the invested assets of the system shall be credited. From
this account shall be paid the expenses of the system and the board incurred in
administration of the system, retirement allowances, and any other benefits payable after a
member's retirement and from this account shall be transferred to the members'
contribution account the interest credited annually to each member's individual account as
provided by KRS 61.575. Effective: July 14, 1992
History: Amended 1992 Ky. Acts ch. 240, sec. 26, effective July 14, 1992. -- Created 1956 Ky. Acts ch. 110, sec. 15.