KRS 61.706: Kentucky Retirement Systems unfunded liability trust fund.

(1) The Kentucky Retirement Systems unfunded liability trust fund is created and shall

be administered by the Finance and Administration Cabinet.

(2) (a) The trust fund shall consist of:

1. Contributions, gifts, and donations;

2. Any moneys designated by the G eneral Assembly for deposit into the

fund; and

3. Any other proceeds from grants, appropriations, or other moneys made

available for the purposes of the trust fund.

(b) Any donor may designate to which system within the Kentucky Retirement

Systems the donation shall benefit, including:

1. The Kentucky Employees Retirement System nonhazardous fund;

2. The Kentucky Employees Retirement System hazardous fund;

3. The County Employees Retirement System nonhazardous fund;

4. The County Employees Retirement System hazardous fund; or

5. The State Police Retirement System.

(c) Checks submitted for donations shall be made payable to the Kentucky State

Treasurer.

(3) Moneys in the trust fund:

(a) Shall be disbursed quarterly to the Kentucky Retirement Systems;

(b) Shall be used to eliminate any unfunded liability and supplement the

investible assets of the Kentucky Retirement Systems; and

(c) Are hereby appropriated for the purposes set forth in paragraph (b) of this

subsection.

(4) Notwithstanding KRS 45.229, any m oneys remaining in the fund at the close of the

fiscal year shall not lapse but shall be carried forward into the succeeding fiscal year

to be used for the purposes provided by subsection (3) of this section.

(5) Interest earned on any moneys in the trust fund shall accrue to the trust fund.

(6) (a) The Finance and Administration Cabinet shall separately account for each

contribution, gift, or donation made to the trust fund and shall publish on its

Web site a listing of each contribution, gift, or donation made and a

cumulative total of the value of all contributions, gifts, or donations, including

the cumulative total, since the creation of the fund, for each donor or

association of donors or entities, other than those wishing to remain

anonymous.

(b) Information listed on the Web site related to each contribution may include all

information set out in this paragraph, as reported by the donor:

1. The name of donor;

2. The location of the donor by county, if the donor is located in Kentucky,

or by state, if the donor is located outside Kentucky; and

3. The title or position of the donor, or the association of the donor with

any other entity.

(c) Anonymous donations shall be accepted without requiring any of the

information provided in paragraph (b) of this subsection.

(7) The Finance and Administration Cabinet may work in conjunction with

management consultants and others willing to give of their time and talents to create

a strategic plan to encourage individuals, foundations, associations, corporations,

and other entities to make donations to the fund.