61.703 Collection of benefit less than $1,000 by surviving relative. - Kentucky Statutes

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Page 1 of 1 61.703 Collection of benefit less than $1,000 by surviving relative. (1) Upon the death of a member, retiree, or recipient who has an existing account or other benefit in a retirement system administered by the Kentucky Retirement
Systems that totals no more than one thousand dollars ($1,000), the surviving
spouse, or if none, a surviving child, or if none, a surviving parent, or if none, a
surviving brother or sister, may without formal administration of the estate collect
the account subject to the provisions of this section. (2) The surviving spouse, child, parent, or brother or sister who makes demand for the deceased member, retiree, or recipient account shall file with the retirement office
an affidavit stating that he or she is entitled to payment of the account. The affidavit
shall conform to the requirements of the administrative regulation promulgated by
the board. (3) After having paid the account to the surviving spouse, child, parent, or brother or sister, the retirement system shall be discharged and held harmless to the same
extent as if conducting business with a personal representative. The retirement
system shall not be required to inquire into the truth or veracity of any statement
made in the affidavit. In the event any person or entity establishes a superior right to
the account, the surviving spouse, child, parent, or brother or sister, and not the
Kentucky Retirement Systems, shall be answerable and accountable to any
appointed personal representative for the estate. Effective: July 15, 2002
History: Created 2002 Ky. Acts ch. 52, sec. 17, effective July 15, 2002.