67A.630 Payment of annuities. - Kentucky Statutes

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67A.630 Payment of annuities. Any service retirement annuity, disability retirement annuity, or any other annuity
provided herein shall be payable in equal monthly installments as life annuities, and shall
not be increased, decreased, revoked, or repealed, except for error, or except where
specifically otherwise provided. The cost of providing death benefits for members in
receipt of retirement annuities shall not be construed as a reduction in the life annuity
payable to the member. The first payment of an annuity shall be made for the fraction of a
month elapsing until the end of the first month; and the last payment shall be made as of
the end of the month in which death occurs. Effective: July 1, 1974
History: Created 1974 Ky. Acts ch. 106, sec. 28, effective July 1, 1974.