KRS § 78.531 — KY Code / Title IX / Chapter 78 / Section 78.531
78.531 Optional participation by members of retirement system in cities, counties, or urban-county governments
Status: in_force

78.531 Optional participation by members of retirement system in cities, counties,

or urban-county governments.

(1) Any member of a retirement system created pursuant to KRS 67A.320, 67A.340,

67A.360 to 67A.690, 79.080, 90.310 to 90.410, 95.290, 95.520 to 95.620, 95.621 to

95.629, 95.767 to 95.784, 95.852 to 95.884, and KRS Chapter 96, notwithstanding

any provisions of the statutes to the contrary, may elect to terminate coverage under

the retirement system in which he is a member, if the city or urban-county

government has adopted the provisions of the County Employees Retirement

System pursuant to KRS 78.520 to 78.852.

(2) (a) If the city or urban-county government elects the alternate participation plan,

as set forth in KRS 78.530(3), employee contributions made to the fund under

authority of KRS 67A.320, 67A.340, 67A.360 to 67A.690, 79.080, 90.400(1),

90.410, 95.290, 95.520 to 95.620, 95.621 to 95.629, 95.767 to 95.784, 95.852

to 95.884, or KRS Chapter 96 shall be paid to the County Employees

Retirement System and credited to the individual member's account in the

system for any employee electing to terminate coverage under the provisions

of this section. Any person who is an active member of the County Employees

Retirement System on July 15, 1990, who withdrew from service prior to

August 1, 1988, under any of the plans enumerated in this section and who

was not granted a refund of his employee contributions, shall be refunded

employee contributions with any interest specified in the applicable statute or

plan, unless the employee has a vested account in the former plan, in which

case he may elect to leave his contributions in the fund in order to receive a

pension from the plan when he becomes eligible.

(b) Proper credit for these employee contributions shall be given to the city or

urban-county government in computing the cost of participation under the

alternate participation plan as provided by KRS 78.530(3). The cost of

participation for employees who withdrew from service and who were not

granted a refund for employee contributions shall be based only upon the time

period for which the contributions were made. The cost shall be computed by

the County Employees Retirement System in a manner consistent with the

calculation of other delayed contribution payments, and shall be paid by the

employee.

(3) If the city or urban-county government does not elect the alternate participation plan

as set forth in KRS 78.530(3), the employee contributions paid into the fund under

authority of KRS 67A.320, 67A.340, 79.080, 90.400(1), 90.410, 95.290, 95.520 to

95.620, 95.621 to 95.629, 95.767 to 95.784, 95.852 to 95.884, or KRS Chapter 96

by each employee electing to terminate coverage under the provisions of this section

shall be refunded to the employee with interest as specified in the applicable statute

or plan, unless the employee has a vested account in which case he may elect to

leave his contributions in the fund in order to later receive a pension when he

becomes eligible.