95.520 Pension fund -- Board of trustees -- Coverage provided in County Employees Retirement System after August 1, 1988. - Kentucky Statutes

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95.520 Pension fund -- Board of trustees -- Coverage provided in County Employees Retirement System after August 1, 1988. (1) There shall be in cities of the third class a policemen's and firefighters' pension fund, and a board of trustees for that fund unless the policemen and firefighters are
included in the membership of the County Employees Retirement System. (2) The board of trustees is the trustee of the pension fund, and has exclusive control and management of the pension fund and of all moneys donated or paid for the
relief or pensioning of members of the police and fire departments. It may do all
things necessary to protect the fund. (3) (a) After August 1, 1988, no new locally administered pension fund shall be created pursuant to this section, and cities which were covered by this section
on or prior to August 1, 1988, shall participate in the County Employees
Retirement System effective August 1, 1988; (b) Cities which were covered by this section on or prior to August 1, 1988, shall provide for the retirement of police or firefighters rehired after August 1,
1988, by placing such employees in the County Employees Retirement
System; (c) Cities which were covered by this section on or prior to August 1, 1988, shall place police or firefighters newly hired after August 1, 1988, in the County
Employees Retirement System; (d) Cities which were covered by this section on or prior to August 1, 1988, shall offer employees hired on or prior to August 1, 1988, membership in the
County Employees Retirement System under the alternate participation plan
as described in KRS 78.530(3), but such employees may elect to retain
coverage under this section; (e) The city shall certify that all police and firefighters placed in the County Employees Retirement System, and not covered by Social Security for their
employment with the city, are employed in hazardous positions. If the police
and firefighters are covered by Social Security for their employment with the
city, the city may certify that they are employed in hazardous positions; and (f) If the city's participation in the County Employees Retirement System is terminated pursuant to KRS 78.535, the city shall provide retirement benefits
pursuant to KRS 95.520 to 95.620 to any of its police and firefighters who
have not retained membership in the County Employees Retirement System
pursuant to KRS 78.535(4). History: June 17, 1978
Effective: Amended 1988 Ky. Acts ch. 11, sec. 3, effective July 15, 1988. -- Amended 1984 Ky. Acts ch. 177, sec. 4, effective July 13, 1984. -- Amended 1978 Ky. Acts
ch. 164, sec. 23, effective June 17, 1978. -- Amended 1972 Ky. Acts ch. 58, sec. 1. --
Amended 1966 Ky. Acts ch. 255, sec. 102. -- Recodified 1942 Ky. Acts ch. 208,
sec. 1, effective October 1, 1942, from Ky. Stat. secs. 3142b-3, 3142b-4, 3142b-5,
3351a-3, 3351a-4, 3351a-5. Legislative Research Commission Note. Acts 1988, ch. 11,