{"data":{"id":"us-ky/krs-161.310","jurisdiction":"us-ky","citation":"KRS 161.310","heading":"Administrative regulations -- Rules, regulations, and policies of","body":"participating employers to conform to chapter -- Retirement incentives.\n(1) The board of trustees shall from time to time promulgate administrative regulations\nfor the administ ration of the funds of the retirement system and for the transaction\nof business.\n(2) All rules, regulations, or policies adopted by school districts, universities, or other\nemployers participating in the Teachers' Retirement System that pertain to the\nretirement system shall conform to this chapter.\n(3) All rules, regulations, or policies adopted, or decisions made, by school districts,\nuniversities, or other employers participating in the Teachers' Retirement System\nthat pertain to retirement incentives f or members as defined in KRS 161.220(4)\nshall contain provisions for the school district, university, or other employer to\nmake full payment to the retirement system at the time a member retires for all\nactuarial obligations that occur to the retirement sy stem as a result of retirement\nincentive payments with no resulting financial obligation for the state. Any\nretirement incentive provided by the employer to a member on the condition that the\nmember terminate employment with the employer shall be deemed a retirement\nincentive for purposes of this subsection if the member retires within six (6) months\nfollowing the member's termination in employment. Retirement incentives include\nremuneration of any kind and any tangible or intangible benefit provided to or on\nbehalf of the member before, after, or at the member's date of retirement.\nRetirement incentives do not include lump -sum payments for accumulated sick,\nannual, or compensatory leave that are generally available to members upon\ntermination of employment.  Notwithstanding any provision of KRS 161.220 to\n161.716 to the contrary, retirement incentives shall not be included in a member's\nfinal average salary or annual compensation as defined under KRS 161.220(9) and\n(10), respectively. This subsection shall no t apply to retirement incentive plans\nadopted by local boards of education prior to December 31, 1997, and to those\nemployees of local school districts who retired on or before July 1, 1998.","path":["KRS Chapter 161"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=51617","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:51:10Z","sha256":"edfe88ba2f3d220a4f1e69bf224e18e488dfcb17e87525aef24d6e6c72dcb569","source_id":"us-ky","stale":false,"prev":"us-ky/krs-161.300","next":"us-ky/krs-161.320"},"notice":"GroundRules: Original legal text. Not legal advice."}