{"data":{"id":"us-ky/krs-161.680","jurisdiction":"us-ky","citation":"KRS 161.680","heading":"Mistake in payment -- Correction of error -- Collection of overpayments.","body":"(1) If any change or error in a record results in any individual receiving from the\nretirement system more or less than the individual was entitled to receive as\ndetermined by the board of trustees or staff of the Teachers' Retirement System, the\nboard of trustees or staff shall, when the error is discovered, correct the error, and as\nfar as practicable adjust the payments so that the actuarial equivalent of the benefit\nto which the individual was entitled shall be paid.\n(2) The Teachers' Retirement System shall take all practicable and cost -effective steps\nto collect overpayments from a member's or retiree's account. Methods of\ncorrection of overpayments from any member's or retiree's account shall include but\nare not limited to reclamation of the overpayment from the member's or retiree's\naccount at the depository bank, the deduction of moneys from account refunds,\ndeduction from the retirement allowance or joint and su rvivor annuity payable from\nthe account, and deduction of moneys from the life insurance benefit. Collection of\noverpayments shall be initiated regardless of the designated beneficiary for any\namounts payable from the account.","path":["KRS Chapter 161"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=56072","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:51:11Z","sha256":"b23f5f497dfe6000eb2f68b5f239bead5318e49623764f828cd50e47d9fc8993","source_id":"us-ky","stale":false,"prev":"us-ky/krs-161.677","next":"us-ky/krs-161.690"},"notice":"GroundRules: Original legal text. Not legal advice."}