KRS 61.663: Excess benefit plan -- Purpose -- Excess benefit fund.

There is created and established:

(1) An excess benefit plan to be known as the Kentucky Employees Retirement System

Excess Benefit Plan. The plan is created for the purpose of providing the retirement

allowances payable from the retirement system under KR S 61.515 to 61.705 that

would otherwise be limited by 26 U.S.C. sec. 415.

(2) A state fund to be known as the Kentucky Employees Retirement System Excess

Benefit Fund which shall consist of all the assets of the plan.

(3) The administration and assets of the plan shall be as set forth in KRS 61.652.