{"data":{"id":"us-ky/krs-61.540","jurisdiction":"us-ky","citation":"KRS 61.540","heading":"Statement of member and employer -- Summary plan description.","body":"(1) Under administrative regulations promulgated by the board, each member and each\nemployer may file at the retirement office, in the form the board may prescribe, a\nstatement of the facts pertaining to the member and other information the system\nmay require.\n(2) The Authority shall prepare and make available upon request to all members, retired\nmembers, or beneficiaries a summary plan description, written in a manner that can\nbe understood by the average member, retired member, or beneficiary, and\nsufficiently accurate and comprehensive to reasonably apprise them of their rights\nand obligations under the provisions of KRS 16.505 to 16.652, 61.510 to 61.705\nand 78.510 to 78.852.\n(3) The summary plan description shall include:\n(a) The name of the retirement syst em, the name and business address of the\nexecutive director of the Kentucky Public Pensions Authority and the chief\nexecutive officer, and the name, business address, and title of each member of\nthe board of trustees;\n(b) The name and business address of t he person designated for the service of\nlegal process;\n(c) The system's requirements for participation and benefits;\n(d) A description of retirement formulas for normal, early and disability\nretirement, and survivor benefits;\n(e) A description of the requirements for vesting of pension benefits;\n(f) A reasonable list of circumstances which would result in disqualification,\nineligibility, or denial or loss of benefits;\n(g) The sources of financing retirement benefits, and statutory requirements for\nfunding;\n(h) A statement after each actuarial valuation as to whether funding requirements\nare being met; and\n(i) The procedures to be followed in presenting claims for benefits under the\nplan, and the remedies available under the plan for the redress of claims which\nare denied in whole or in part.\n(4) The system may publish the summary plan description in the form of a paper or\nelectronic comprehensive pamphlet or booklet, or in the form of paper or electronic\nperiodic newsletters which shall incorporate all the in formation required in the\nsummary plan description within a period of two (2) years. Any changes in statutory\nrequirements or administrative practices which alter the provisions of the plan as\ndescribed in the summary plan description shall be summarized a s required in\nsubsection (2) of this section and shall be made available upon request to members\nin the form of a supplement to a comprehensive booklet, or reported in the periodic\nnewsletter.","path":["KRS Chapter 61"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=51208","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:49:15Z","sha256":"d80219313987d9f69ba00c5268d0a0325cd03a0e4fc414bbc65a76f7f2f0f669","source_id":"us-ky","stale":false,"prev":"us-ky/krs-61.535","next":"us-ky/krs-61.541"},"notice":"GroundRules: Original legal text. Not legal advice."}