61.580 Retirement allowance account.
The retirement allowance account shall be the account in which shall be accumulated all <br>employer contributions and amounts transferred from the members' contribution account, <br>and to which all income from the invested assets of the system shall be credited. From <br>this account shall be paid the expenses of the system and the board incurred in <br>administration of the system, retirement allowances, and any other benefits payable after a <br>member's retirement and from this account shall be transferred to the members' <br>contribution account the interest credited annually to each member's individual account as <br>provided by KRS 61.575.
Effective: July 14, 1992 <br>History: Amended 1992 Ky. Acts ch. 240, sec. 26, effective July 14, 1992. -- Created
1956 Ky. Acts ch. 110, sec. 15.
61.580 Retirement allowance account.
The retirement allowance account shall be the account in which shall be accumulated all <br>employer contributions and amounts transferred from the members' contribution account, <br>and to which all income from the invested assets of the system shall be credited. From <br>this account shall be paid the expenses of the system and the board incurred in <br>administration of the system, retirement allowances, and any other benefits payable after a <br>member's retirement and from this account shall be transferred to the members' <br>contribution account the interest credited annually to each member's individual account as <br>provided by KRS 61.575.
Effective: July 14, 1992 <br>History: Amended 1992 Ky. Acts ch. 240, sec. 26, effective July 14, 1992. -- Created
1956 Ky. Acts ch. 110, sec. 15.
61.580 Retirement allowance account.
The retirement allowance account shall be the account in which shall be accumulated all <br>employer contributions and amounts transferred from the members' contribution account, <br>and to which all income from the invested assets of the system shall be credited. From <br>this account shall be paid the expenses of the system and the board incurred in <br>administration of the system, retirement allowances, and any other benefits payable after a <br>member's retirement and from this account shall be transferred to the members' <br>contribution account the interest credited annually to each member's individual account as <br>provided by KRS 61.575.
Effective: July 14, 1992 <br>History: Amended 1992 Ky. Acts ch. 240, sec. 26, effective July 14, 1992. -- Created
1956 Ky. Acts ch. 110, sec. 15.
