KRS § 61.630 — KY Code / Title VIII / Chapter 61 / Section 61.630
61.630 Death after retirement -- Refund of contributions
Status: in_force

61.630 Death after retirement -- Refund of contributions.

(1) If a retired member who did not elect an optional retirement plan dies at any time on

or after the first day of the month in which the member received or would have

received his or her first retirement allowance but before receiving total retirement

allowances provided in KRS 16.510 to 16.652, KRS 61.515 to 61.705, and KRS

78.520 to 78.852 at least equal to his accumulated contributions as of the date of his

or her retirement, the difference between the accumulated contributions and the

total allowances shall be payable in a lump sum to the properly designated

beneficiary. Except as otherwise provided by KRS 61.542(5), if a living person

designated as the beneficiary predeceases the retired member, the estate shall

become the beneficiary. Except as otherwise provided by KRS 61.542(5), if a

spouse designated as the beneficiary is divorced from the retired member as of the

member's death, the estate shall become the beneficiary.

(2) If a retired member who elected an optional retirement plan and his or her

beneficiary both die at any time on or after the first day of the month in which the

member received or would have received his or her first retirement allowance but

before receiving total retirement allowances provided in KRS 16.510 to 16.652,

KRS 61.515 to 61.705, and KRS 78.520 to 78.852 at least equal to the retired

member's accumulated contributions as of the date of his or her retirement, the

difference between the accumulated contributions and the total allowances shall be

payable in a lump sum to the estate of the last deceased, except that the retired

member's estate shall receive the payment if the beneficiary was the spouse and they

were divorced as of the date of the member's death. If the retired member and

beneficiary die simultaneously, the estate of the retired member shall become the

beneficiary.

(3) If a beneficiary receiving a lifetime retirement allowance under KRS 16.578 or

61.640 dies before receiving total retirement allowances provided in KRS 16.510 to

16.652, KRS 61.515 to 61.705, and KRS 78.520 to 78.852 at least equal to the

member's accumulated contributions as of the date of the member's death, the

difference between the accumulated contributions and the total allowances shall be

payable in a lump sum to the estate of the beneficiary.

(4) If a beneficiary receiving a retirement allowance for sixty (60) or one hundred

twenty (120) months certain under KRS 16.576, 16.578, or 61.640, or a beneficiary

receiving a retirement allowance under KRS 61.635(5), (6), or (7), dies before

receiving all payments under the plan, the executor or administrator of his or her

estate shall receive a lump sum payment which shall be the actuarial equivalent to

the remaining payments.

(5) If the system is unable to verify a recipient's whereabouts or whether the recipient is

living, the system shall suspend the recipient's retirement allowance. If the recipient

is located, the system shall restore to the recipient all suspended retirement

allowances.