{"data":{"id":"us-ky/krs-21.550","jurisdiction":"us-ky","citation":"KRS 21.550","heading":"Investments, judicial retirement fund.","body":"(1) Those members of the board of trustees of the Judicial Form Retirement System\nwho are appointed by the Supreme Court, together with the members appointed by\nthe Governor, shall constitute an investment committee for the Judicial Retirement\nPlan, and as such shall have full and sole authority over the judicial retirement fund\nand the investment thereof, including the prescribing of funding standards, the\nadoption of actuarial methods and assumptions, and the making of employments or\ncontracts for required pe rsonal services, including administrative, actuarial and\ninvestment counseling services. The committee shall be considered trustee of the\njudicial retirement fund and shall have the sole authority to make investment\ntransactions or obtain insurance contrac ts for funding purposes. The fund shall be\ninvested in securities which, at the time of making the investment, are by law\npermitted for the investment of funds by fiduciaries in this state, or funding may be\naccomplished in part by contract with a reputable life insurance company authorized\nto do business in this state. To the extent that funding is provided through insurance\ncontract, no contributions, payments or premiums shall be subject to any tax on\ninsurance premiums or annuity considerations.\n(2) The investment committee for the judicial retirement fund shall appoint one (1) or\nmore custodians of the securities acquired under authority of this section, each of\nwhom shall be responsible for the safekeeping of the securities in his custody. All\nregistered securities shall be registered in the name \"Kentucky Judicial Retirement\nFund\" (securities heretofore registered in the name \"Kentucky Judicial Retirement\nSystem\" may continue in that name), or in nominee name as provided comparably\nin KRS 286.3-225, and every change in registration, by reason of sale or assignment\nof such securities, shall be accomplished by the signatures of the chairman of the\ninvestment committee or a member of that committee appointed by the chairman,\nand by the secretary-treasurer of the fund.","path":["KRS Chapter 21"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=20520","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:48:41Z","sha256":"6205cd8edc00447821bfdb13da2f0d6a91d4e8669a5aa45b3768259327471d43","source_id":"us-ky","stale":false,"prev":"us-ky/krs-21.540","next":"us-ky/krs-21.560"},"notice":"GroundRules: Original legal text. Not legal advice."}