78.650 Retirement allowance account. - Kentucky Statutes

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78.650 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 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
78.510 to 78.852. Effective: July 14, 1992
History: Amended 1992 Ky. Acts ch. 240, sec. 60, effective July 14, 1992. -- Created 1958 Ky. Acts ch. 167, sec. 15, effective June 19, 1958.