161.545 Contributions and service credit for substitute service, part-time service, or leave of absence -- Contributions not to be picked up -- Purchases of service credit by individuals becoming memb - Kentucky Statutes

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161.545 Contributions and service credit for substitute service, part-time service, or leave of absence -- Contributions not to be picked up -- Purchases of service
credit by individuals becoming members on or after July 1, 2008, for leaves of
absence for health, child-rearing, and educational improvement reasons. (1) Members may make contributions and receive service credit for substitute, part-time, or any service other than regular full-time teaching as provided in the
administrative regulations of the board of trustees if contributions were not
otherwise made as a result of the service. Members placed on leave of absence
during a period of full-time employment as defined in KRS 161.220(21) may make
contributions and receive service credit for this leave only if contributions are made
by the end of the fiscal year next succeeding the year in which the leave was
effective as provided in administrative regulations promulgated by the board of
trustees. Contributions permitted after August 1, 1982, shall not be picked-up
pursuant to KRS 161.540(2). (2) Active contributing members of the Teachers' Retirement System, or former members who are currently participating in a state-administered retirement system,
who were granted leaves of absence during a period of full-time employment as
defined in KRS 161.220(21) since July 1, 1964, for reasons of health as defined
under the Federal Family Medical Leave Act of 1993, 29 U.S.C. secs. 2601 et seq.,
child rearing, or to improve their educational qualifications, and did not purchase
the leave of absence as provided in subsection (1) of this section may obtain credit
for the leave of absence as provided under the administrative regulations of the
board of trustees and under the following conditions:
(a) The leave of absence shall be verified by a copy of the board of education minutes which granted the leave of absence or by other documentation that
was generated contemporaneously with the leave that is determined by the
retirement system to reasonably establish that a leave of absence was granted;
and (b) The member shall contribute the required percentage based on the salary received for the year immediately preceding the leave of absence plus interest
at the rate of eight percent (8%) compounded annually from the beginning of
the school year following the year of the leave of absence, and by depositing
in the state accumulation fund an amount equal to this total. (c) The member shall receive credit for no more than two (2) years under the provisions of this subsection. (3) Contributions permitted under this section after August 1, 1982, shall not be picked-up pursuant to KRS 161.540(2). (4) Notwithstanding any other provisions of this section to the contrary, purchase of service credit under subsection (2) of this section for individuals who become
members on or after July 1, 2008, shall be purchasable only at the full actuarial cost. Effective: June 27, 2008
History: Amended 2008 (1st Extra. Sess.) Ky. Acts ch. 1, sec. 35, effective June 27, 2008. -- Amended 2008 Ky. Acts ch. 78, sec. 10, effective July 1, 2008. -- Amended
2004 Ky. Acts ch. 121, sec. 11, effective July 1, 2004. -- Amended 2002 Ky. Acts ch. 275, sec. 17, effective July 1, 2002. -- Amended 1998 Ky. Acts ch. 515, sec. 7,
effective July 1, 1998. -- Amended 1996 Ky. Acts. ch. 259, sec. 1, effective July 15,
1996; and ch. 359, sec. 9, effective July 1, 1996. -- Amended 1994 Ky. Acts ch. 369,
sec. 13, effective July 1, 1994.