95.621 Adoption of alternative fund, effect -- Members excluded, how -- Coverage provided in County Employees Retirement System after August 1, 1988. - Kentucky Statutes

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95.621 Adoption of alternative fund, effect -- Members excluded, how -- Coverage provided in County Employees Retirement System after August 1, 1988. (1) A city of the third class may adopt an ordinance creating a pension fund for firefighters and policemen pursuant to KRS 95.621 to 95.629 as an alternative to the
fund established in KRS 95.520 to 95.620. In the event a third-class city does elect
to adopt KRS 95.621 to 95.629 all the provisions herein are mandatory. The
provisions of KRS 95.620 shall apply to any city of the third class which has
adopted KRS 95.621 to 95.629. (2) Any member of the police or fire department serving at the time of passage of the ordinance and not desiring to participate in the fund and its benefits may be
excluded by notifying the board of trustees of the pension fund in writing of his
desire not to participate within ten (10) days after the effective date of this
ordinance. (3) (a) After August 1, 1988, no new 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 95.621 to 95.629 to any of its police and firefighters who
have not retained membership in the County Employees Retirement System
pursuant to KRS 78.535(4). Effective: July 15, 1988
History: Amended 1988 Ky. Acts ch. 11, sec. 4, effective July 15, 1988. -- Amended 1984 Ky. Acts ch. 177, sec. 5, effective July 13, 1984. -- Amended 1978 Ky. Acts
ch. 164, sec. 28, effective June 17, 1978. -- Amended 1974 Ky. Acts ch. 52, sec. 1. --
Created 1966 Ky. Acts ch. 8, secs. 1 and 11. Legislative Research Commission Note. Acts 1988, ch. 11,