{"data":{"id":"us-ky/krs-16.577","jurisdiction":"us-ky","citation":"KRS 16.577","heading":"Early retirement for members  who began participating before January","body":"1, 2014.\n(1) Upon  retirement at early retirement date, a member  may receive an annual\nretirement allowance payable monthly during his lifetime which shall be\ndetermined in the same manner as for retirement at his normal retirement date,\nwith years of service and final compensation being determined as of the date of\nhis actual retirement, but the amount  of the retirement allowance so\ndetermined shall be reduced at an amount determined by the board's actuary\nto reflect the earlier commencement  of benefits.\n(2) For a member  who begins participating before September 1, 2008, there shall\nbe no reduction in the retirement allowance if the member  has twenty (20) or\nmore years of service credit, at least fifteen (15) of which are current service.\n(3) For a member  who begins participating on or after September 1, 2008, but\nprior to January 1, 2014, there shall be no reduction in the retirement\nallowance if the member  has twenty-five (25) or more years of service credited\nunder  KRS  16.543(1), 61.543(1), or another state-administered retirement\nsystem.\n(4) Subsections (1) to (3) of this section shall not apply to members  who begin\nparticipating in the system on or after January 1, 2014. Members  who begin\nparticipating in the system on or after January 1, 2014, shall receive the\nretirement benefit calculation prescribed by KRS 16.583.","path":["KRS Chapter 16"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=50808","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:48:37Z","sha256":"fd1ed81a3a2983d158ebb433f078436001b63c7b0c2578184f6d8cca4185de46","source_id":"us-ky","stale":false,"prev":"us-ky/krs-16.576","next":"us-ky/krs-16.578"},"notice":"GroundRules: Original legal text. Not legal advice."}