{"data":{"id":"us-ky/krs-161.340","jurisdiction":"us-ky","citation":"KRS 161.340","heading":"Officers of board -- Personnel of system -- Contracting for services and","body":"commodities -- Liability insurance -- Leave balances.\n(1) (a) The board of trustees shall elect from its membership a chairperson and a vice\nchairperson on an annual bas is as prescribed by the administrative regulations\nof the board of trustees. The chairperson shall not serve more than four (4)\nconsecutive years as chairperson or vice chairperson of the board. The vice\nchairperson shall not serve more than four (4) conse cutive years as\nchairperson or vice chairperson of the board. A trustee who has served four\n(4) consecutive years as chairperson or vice chairperson of the board may be\nelected chairperson or vice chairperson of the board after an absence of two\n(2) years from the position.\n(b) The board of trustees shall employ an executive secretary by means of a\ncontract not to exceed a period of four (4) years and fix the compensation and\nother terms of employment for this position without limitation of the\nprovisions o f KRS Chapters 18A, 45A, 56, and KRS 64.640. The executive\nsecretary shall be the chief administrative officer of the board. The executive\nsecretary, at the time of employment, shall be a graduate of a four (4) year\ncollege or university, and shall possess  qualifications as the board of trustees\nmay require. The executive secretary shall not have held by appointment or\nelection an elective public office within the five (5) year period next preceding\nthe date of employment.\n(2) The board shall employ clerical, administrative, and other personnel as are required\nto transact the business of the retirement system. The compensation of all persons\nemployed by the board shall be paid at the rates and in amounts as the board\napproves. Anything in the Kentucky Revise d Statutes to the contrary\nnotwithstanding, the power over and the control of determining and maintaining an\nadequate complement of employees in the system shall be under the exclusive\njurisdiction of the board of trustees.\n(3) (a) Except as provided by KR S 161.430(7), the board shall contract for actuarial,\nauditing, legal, medical, investment counseling, and other professional or\ntechnical services, insurance, and commodities, as are required to carry out the\nobligations of the board in accordance with th e provisions of this chapter,\nsubject to KRS Chapters 45, 45A, 56, and 57 but without the limitations\nprovided by KRS Chapters 12 and 13B.\n(b) The board shall provide for legal counsel and other legal services as may be\nrequired in defense of trustees, off icers, and employees of the system who\nmay be subjected to civil action arising from the performance of their legally\nassigned duties if counsel and services are not provided by the Attorney\nGeneral. The hourly rate of reimbursement for any contract for le gal services\nunder this paragraph shall not exceed the maximum hourly rate provided in\nthe Legal Services Duties and Maximum Rate Schedule promulgated by the\nGovernment Contract Review Committee established pursuant to KRS\n45A.705, unless a higher rate is specifically approved by the secretary of the\nFinance and Administration Cabinet or his or her designee.\n(4) The board of trustees may expend funds from the expense fund as necessary to\ninsure the trustees, employees, and officials of the Teachers' Retirem ent System\nagainst any liability arising out of an act or omission committed in the scope and\ncourse of performing legal duties. Insurance may be obtained or provided by\ncontracting with an insurance carrier, by self -insurance, by indemnification, or by\nany combination thereof.\n(5) Notwithstanding any statute to the contrary, employees shall not be considered\nlegislative agents as defined in KRS 6.611.\n(6) Notwithstanding any statute to the contrary, the executive branch of government\nshall accept from the Teachers' Retirement System all accrued annual and sick leave\nbalances and service credits of employees leaving the Teachers' Retirement System\nand accepting appointments within the executive branch. These leave balances shall\nbe attested to by the Teacher s' Retirement System and shall not exceed those limits\nestablished by statute or administrative regulation for employees of the executive\nbranch.","path":["KRS Chapter 161"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=51618","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:51:10Z","sha256":"167fcf214493fb7c5ececc6396e48e4be67e62c9608d0039360c6dfd56e6036d","source_id":"us-ky","stale":false,"prev":"us-ky/krs-161.330","next":"us-ky/krs-161.350"},"notice":"GroundRules: Original legal text. Not legal advice."}