{"data":{"id":"us-ky/krs-21.400","jurisdiction":"us-ky","citation":"KRS 21.400","heading":"Computation of retirement allowance for member who began participating","body":"before January 1, 2014 -- Benefit reduction for early retirement.\n(1) A member who began participating in the Judicial Retirement Plan prior to January\n1, 2014, who retires on or after his normal retirement date shall receive a service\nretirement allowance, payable monthly during his lifetime, in an amount per month\nequal to two and seventy-five hundredths percent (2.75%) of his final compensation\nmultiplied by the number of years of his service, but in no event to exceed one\nhundred percent (100%) of final compensation, except that for any service\nperformed while a member prior to July 1, 1978, any service prior to July 1, 1962,\ncreditable under KRS 21.345, and any service performe d in continued membership\n(or allowable under KRS 21.410 or 21.420) after June 30, 1978, by a person who\nwas a member on that date, the monthly percentage figure shall be five percent (5%)\nof his final compensation multiplied by the number of years of his service, and\nexcept that for any service performed by a member who elected membership at an\nannual accrual rate of four and fifteen one hundredths percent (4.15%) and for any\nservice performed in continued membership thereafter (or allowable under KRS\n21.410 to 21.420), the benefit, payable monthly during his lifetime shall be an\namount equal to four and fifteen one -hundredths percent (4.15%) of his final\ncompensation multiplied by the number of years of his service, and except that\nallowances heretofore granted, and rights related thereto, shall not be affected by the\n1978 or 1980 amendments to this section. For this purpose, \"final compensation\"\nmeans the average monthly compensation of the member for the sixty (60) months\nof service immediately preceding his retirement, including, in the case of a Circuit\nJudge, compensation received as special commissioner of the former Court of\nAppeals. If, at the time of retirement or death of a member his total period of\nservice in one or more positions covered by the system has not amounted to sixty\n(60) months, his \"final compensation\" shall be computed as if he had served in the\nfirst position he occupied under the system for such period of time as to bring his\ntotal service (in all positions) to sixty (60) months. I f that category of position was\nnot in existence for that period, it shall be treated as though it had been in existence\nfor that period and as if the compensation paid for the presumed period of existence\nwas at the rate provided for the category when it in fact first was created.\n(2) A member who began participating in the Judicial Retirement Plan prior to January\n1, 2014, who retires before his normal retirement date shall be vested with the right\nto receive, when he reaches his normal retirement age, a service retirement\nallowance computed on the basis of the number of years of his actual service, and\npayable in accordance with:\n(a) The provisions of subsection (1) of this section; or\n(b) KRS 21.580 if the member retires as a Senior Status Special Judge while the\npilot program created in KRS 21.580 is in effect.\n(3) In lieu of the right provided for in subsection (2) of this section, a member who\nbegan participating in the Judicial Retirement Plan prior to January 1, 2014, who\nretires before his normal re tirement age may elect, at any time before reaching his\nnormal retirement age, to be paid commencing as of the time of the election a\nmonthly service retirement allowance equal in amount to the monthly allowance\nthat would have become payable under subsect ion (2) of this section when he\nreached his normal retirement age, reduced at the rate of five percent (5%) for each\nyear by which his actual age at the time the election is made is lower than the\nnormal retirement age.\n(4) A member who began participating in the Judicial Retirement Plan prior to January\n1, 2014, who retires before his normal retirement date when his benefit is based on\ntwenty-seven (27) years or more of service in the Judicial Retirement Plan, or if his\njudicial service credit, when combin ed with service he has in, or for which he is\nreceiving benefits from, the Legislators' Retirement Plan, the Kentucky Employees\nRetirement System, County Employees Retirement System, State Police Retirement\nSystem, or the Teachers' Retirement System, is eq ual to twenty -seven (27) years,\nshall be vested with the right to receive a service retirement allowance computed on\nthe basis of the number of years of his actual service, and payable in accordance\nwith:\n(a) The provisions of subsection (1) of this section; or\n(b) KRS 21.580 if the member retires as a Senior Status Special Judge while the\npilot program created in KRS 21.580 is in effect.\n(5) In lieu of the right provided for in subsection (2) of this section, a member who\nbegan participating in the Judicia l Retirement Plan prior to January 1, 2014, who\nretires before his normal retirement age may elect, at any time before reaching his\nnormal retirement age, to be paid commencing as of the time of the election, a\nmonthly service retirement allowance equal in  amount to the monthly allowance\nthat would have become payable under subsection (2) of this section when he\nreached normal retirement age, reduced at the rate of five percent (5%) for each year\nby which his years of service or combined service pursuant to  subsection (4) of this\nsection are lower than twenty-seven (27).\n(6) Subsections (1) to (5) of this section shall not apply to members who begin\nparticipating in the Judicial Retirement Plan on or after January 1, 2014.","path":["KRS Chapter 21"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=42652","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:48:41Z","sha256":"a8508e4f0c42d60c909ae7132a542e6e1467a89d6aa7dce8838b5a563ea7cd34","source_id":"us-ky","stale":false,"prev":"us-ky/krs-21.390","next":"us-ky/krs-21.402"},"notice":"GroundRules: Original legal text. Not legal advice."}