KRS 61.623: Electronic fund transfer of retirement allowance required -- Exceptions.

(1) A recipient who begins receiving a retirement allowance August 1, 2000, or after,

from the Kentucky Employees Retirement System, the County Employees

Retirement System, or the State Police Retirement System shall have the retirement

allowance paid by elec tronic fund transfer to a financial institution designated by

the recipient except as provided by subsection (5) of this section.

(2) When an individual becomes eligible to receive a monthly retirement allowance, the

retirement system shall provide an auth orization for deposit of retirement payment

form to the recipient to have the monthly retirement allowance deposited to an

account in a financial institution.

(3) The recipient shall provide the information and authorization required for the

electronic tra nsfer of funds from the State Treasurer's office to the designated

financial institution.

(4) At any time while receiving a retirement allowance, the recipient may change the

designated institution by completing a new authorization for deposit of retiremen t

payment form and filing the form at the retirement office in Frankfort. The last

authorization for deposit of retirement payment on file at the retirement office shall

control the electronic transfer of the recipient's retirement allowance.

(5) (a) A rec ipient may request to be paid by check issued by the State Treasurer

instead of by electronic transfer by completing and filing at the retirement

office a request for payment by check form.

(b) The request shall be approved if:

1. The recipient certifies t hat he does not currently have an account with a

financial institution; or

2. The recipient's bank certifies that it does not participate in the electronic

funds transfer program.

(c) The retirement office shall, every five (5) years, require the recipient to certify

that the original conditions under which he requested payment by check

continue. If the original conditions do not exist, the recipient shall complete

an authorization for direct deposit of retirement payment form and file it with

the retirement office.