Ky. Rev. Stat. § 61.515

Retirement system established -- Fund created

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There is hereby created and established: (1) A retirement system for employees to be known as the "Kentucky Employees Retirement System" by and in which name it shall, pursuant to the provisions of KRS 61.510 to 61.705, transact all its business and shall have the powers and privileges of a corporation; and (2) (a) A fund, called the "Kentucky Employees Retirement Fund," which shall consist of all the assets of the system as set forth in KRS 61.570 to 61.585. (b) All assets received in the fund shall be deemed trust funds to be held and applied solely as provided in KRS 61.510 to 61.705. (c) The assets in the fund shall be attributable to members participating in the Kentucky Employees Retirement System in both hazardous positions as defined in KRS 61.592 and nonhazardous positions as defined in KRS 61.510, and when payment is made from the fund: 1. No assets attributable to members in hazardous positions shall be used to pay benefits to members in nonhazardous positions; and 2. No assets attributable to members in nonhazardous positions shall be used to pay benefits to members in hazardous positions. Effective:April 14, 2022 History: Amended 2022 Ky. Acts ch. 216, sec. 4, effective April 14, 2022. -- Amended 2004 Ky. Acts ch. 36, sec. 8, effective July 13, 2004. -- Amended 1988 Ky. Acts ch. 349, sec. 8, effective July 15, 1988. -- Amended 1976 Ky. Acts ch. 321, sec. 40. -- Created 1956 Ky. Acts ch. 110, sec. 2.

Notes of Decisions

Cited in 6 cases, 2005–2020 · leading case: Board of Trustees v. Commonwealth, Board of Claims

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Board of Trustees v. Commonwealth, Board of Claims (2008) kyctapp · cites it 2× “ment on the date the department first participates in the system, either in service or on authorized leave from service, and who elect within thirty (30) days following the department's participation, or in the case of persons on authorized leave, within thirty (30) days of…”

Kentucky Employees Retirement System v. Seven Counties Services, Inc. (In re Seven Counties Services, Inc.) (2014) kywb · cites it 2× “§§ 61.515(1) and .645(2). KERS has the power to act alone pursuant to K.”

Randy Overstreet v. Jeffrey C. Mayberryas Member and Beneficiary of Trust Funds on Behalf of the Kentucky Retirement Sys (2020) ky “All assets received in the fund shall be deemed trustfunds to be held and applied solely as provided in KRS 61.”

Brent Aldridge v. Jeffrey C. Mayberryas Member and Beneficiary of Trust Funds on Behalf of the Kentucky Retirement Syste (2020) ky “All assets received in the fund shall be deemed trust funds to be held and applied solely as provided in KRS 61.”

Kentucky Employees Retirement System v. Seven Counties Services, Inc. (2019) ky “KRS 61.515(2) creates a “Kentucky Employees Retirement Fund” and provides that “[a]ll assets received in the fund shall be deemed trust funds to be held and applied solely as provided in KRS 61.”

Kentucky Retirement Systems v. Halfhill (2005) ky “, KRS 61.515 et. al, KRS 78.520 et. al. . See Id.”

— Ky. Rev. Stat. § 61.515(1) — 1 case

Kentucky Employees Retirement System v. Seven Counties Services, Inc. (In re Seven Counties Services, Inc.) (2014) kywb “§§ 61.515(1) and .645(2). KERS has the power to act alone pursuant to K.”

— Ky. Rev. Stat. § 61.515(2) — 3 cases

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