{"data":{"id":"us-ky/krs-161.560","jurisdiction":"us-ky","citation":"KRS 161.560","heading":"Deduction and forwarding of teachers' contributions -- Reporting","body":"requirements -- Picked-up employee contributions -- Correction of omitted\nmember contributions.\n(1) (a) Each agency, school district, and institution employing members of the\nretirement system shall deduct from the compensation of each member for\neach payroll period subsequent to the date the individual became a member,\nthe percentage of his or her compensation due under the rates prescribed in\nKRS 161.540. No later than fifteen (15) days following each pay date, the\nemployer shall have on deposit with the retirement system all required\ndeductions. The retirement system may charge the employer interest at an\nannual rate not to exceed eight percent (8%) for deductions not deposited\nwithin the specified fifteen (15) days.\n(b) Each employer employing members of the retirement system shall have on file\nat the retirement system's office no later than fifteen (15) days following each\npay date payroll reports, contributions lists, and oth er data required by\nadministrative regulation of the board. The retirement system may impose a\npenalty on the employer not to exceed one thousand dollars ($1,000) when the\nemployer does not meet the reporting date. However, the retirement system\nmay waive the penalty for good cause.\n(c) Each employer employing members of the retirement system shall have on file\nat the retirement system's office an annual summary report of member\ncontributions and periods employed no later than August 1 following the\ncompletion of each fiscal year. The retirement system may impose a penalty\non the employer not to exceed one thousand dollars ($1,000) when the\nemployer does not meet the August 1 reporting date. However, the retirement\nsystem may waive the penalty for good cause.\n(d) The deductions described by paragraph (a) of this subsection shall be made\nnotwithstanding the fact that the salary as a result may be less than the\nminimum compensation provided by law. Every member shall be deemed to\nconsent and agree to the deductions, and the deductions shall be considered as\nhaving been paid to the member. After August 1, 1982, member contributions\nshall be picked up by the agency pursuant to KRS 161.540(2).\n(2) If an employer fails to deduct the correct retirement contribution f rom a member's\ncompensation, the member may make the contribution that should have been\ndeducted by the employer and receive retirement credit for the payment. For\ncorrection of omitted member contributions that occur more than one (1) year after\nthe year in which the error was made, the employer shall be responsible for paying\ninterest to the retirement system at a rate of eight percent (8%) from the end of the\nyear in which the service was performed to the date of payment.","path":["KRS Chapter 161"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=51627","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:51:11Z","sha256":"1284e1ba98027f53476099fbbc123a39c2a454291ba367630899e4a9636a336c","source_id":"us-ky","stale":false,"prev":"us-ky/krs-161.556","next":"us-ky/krs-161.565"},"notice":"GroundRules: Original legal text. Not legal advice."}