{"data":{"id":"us-ky/krs-21.460","jurisdiction":"us-ky","citation":"KRS 21.460","heading":"Refund of contributions or account balance for members  who  began","body":"participating before January  1, 2014 -- Purchase  of service credit --\nInterest on deferred refunds -- Repayment.\n(1) (a) For members  who  began participating in the Judicial Retirement Plan\nprior to January 1, 2014: If any member  of the plan ceases, other than by\ndeath or by disability retirement under KRS  21.410, to hold an office\nqualifying him or her for membership  in the plan established by KRS\n21.350 to 21.480, without having met the requirements for vesting, he or\nshe shall be refunded on demand  the amount of his or her accumulated\ncontributions and any service credit he or she had in the plan shall be\nnullified.\n(b) A member  who begins participating in the Judicial Retirement Plan on or\nafter January 1, 2014, may, if the member  ceases to hold an office\nqualifying him or her for membership  in the plan established by KRS\n21.345 to 21.580, elect to take a refund of his or her accumulated account\nbalance subject to the limitations provided by KRS 21.402.\n(2) The  member  may elect to leave his or her contributions in the plan, in which\nevent the service credit he or she had in the plan shall be considered to be\nservice credit for vesting purposes as provided in KRS  21.375 and for service\nretirement eligibility as provided in KRS  61.680(7), and, in the event he or she\nagain becomes  a member  of the Judicial Retirement Plan, shall be counted\ntoward his or her total service credit in that plan.\n(3) If a person who has been refunded his or her accumulated contributions or\naccumulated account balance in accordance with subsection (1) of this section\nsubsequently becomes  a member  of the Legislators' Retirement Plan, the\nKentucky  Employees  Retirement System, County  Employees  Retirement\nSystem, State Police Retirement System, or Teachers' Retirement System, he\nor she may while holding such membership repurchase the service credit he or\nshe previously had in the Judicial Retirement Plan by repaying to that plan the\namount  that was refunded to him or her with interest at six percent (6%) per\nannum,  in which event such service credit shall have operative effect to the\nsame  limited extent as provided in subsection (2) of this section. Service\npurchased under this subsection on or after January 1, 2014, shall not be used\nto determine the member's participation date in the Judicial Retirement Plan.\n(4) If a person who has been refunded his or her accumulated contribution or\naccumulated account balance in accordance with subsection (1) of this section\nthereafter becomes  again the holder of an office qualifying him or her for\nmembership  in the Judicial Retirement Plan, he or she shall not be entitled to\ncredit for his or her prior period of service unless he or she has previously\nrepaid his or her refunded contributions in accordance with subsection (3) of\nthis section or unless within thirty (30) days after again assuming office he or\nshe repays to the plan the amount that was refunded to him or her with interest\nat six percent (6%) per annum. Service purchased under this subsection on or\nafter January 1, 2014, shall not be  used  to determine the member's\nparticipation date in the Judicial Retirement Plan.\n(5) If the taking of a refund of contributions by a member  of the Kentucky Judicial\nRetirement Plan, when first entitled thereto, would subject the member  to a\nfederal excise tax, by reason of the refund's being made  before the member\nhas reached an age designated by the federal taxing act, and the member  has\nelected, pursuant to subsection (2) of this section, to defer taking a refund, so\nmuch  of the contributions as would have been subject to the excise tax shall\naccrue interest at the rate of six percent (6%) per annum, from the date the\nmember  first could have taken a refund until the date the refund is taken or the\ndate as of which the federal excise tax no longer would apply to a refund,\nwhichever is sooner, the interest to be paid by the plan at the time of the\nrefund. The provisions of this subsection 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=50815","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:48:41Z","sha256":"784fd5002d50d5f68a576a31578841d6d2c671894dd6ab85584d0e9c5e6f6618","source_id":"us-ky","stale":false,"prev":"us-ky/krs-21.455","next":"us-ky/krs-21.470"},"notice":"GroundRules: Original legal text. Not legal advice."}