{"data":{"id":"us-ky/krs-61.706","jurisdiction":"us-ky","citation":"KRS 61.706","heading":"Kentucky Retirement Systems unfunded liability trust fund.","body":"(1) The Kentucky Retirement Systems unfunded liability trust fund is created and shall\nbe administered by the Finance and Administration Cabinet.\n(2) (a) The trust fund shall consist of:\n1. Contributions, gifts, and donations;\n2. Any moneys designated by the G eneral Assembly for deposit into the\nfund; and\n3. Any other proceeds from grants, appropriations, or other moneys made\navailable for the purposes of the trust fund.\n(b) Any donor may designate to which system within the Kentucky Retirement\nSystems the donation shall benefit, including:\n1. The Kentucky Employees Retirement System nonhazardous fund;\n2. The Kentucky Employees Retirement System hazardous fund;\n3. The County Employees Retirement System nonhazardous fund;\n4. The County Employees Retirement System hazardous fund; or\n5. The State Police Retirement System.\n(c) Checks submitted for donations shall be made payable to the Kentucky State\nTreasurer.\n(3) Moneys in the trust fund:\n(a) Shall be disbursed quarterly to the Kentucky Retirement Systems;\n(b) Shall be used to eliminate any unfunded liability and supplement the\ninvestible assets of the Kentucky Retirement Systems; and\n(c) Are hereby appropriated for the purposes set forth in paragraph (b) of this\nsubsection.\n(4) Notwithstanding KRS 45.229, any m oneys remaining in the fund at the close of the\nfiscal year shall not lapse but shall be carried forward into the succeeding fiscal year\nto be used for the purposes provided by subsection (3) of this section.\n(5) Interest earned on any moneys in the trust fund shall accrue to the trust fund.\n(6) (a) The Finance and Administration Cabinet shall separately account for each\ncontribution, gift, or donation made to the trust fund and shall publish on its\nWeb site a listing of each contribution, gift, or donation  made and a\ncumulative total of the value of all contributions, gifts, or donations, including\nthe cumulative total, since the creation of the fund, for each donor or\nassociation of donors or entities, other than those wishing to remain\nanonymous.\n(b) Information listed on the Web site related to each contribution may include all\ninformation set out in this paragraph, as reported by the donor:\n1. The name of donor;\n2. The location of the donor by county, if the donor is located in Kentucky,\nor by state, if the donor is located outside Kentucky; and\n3. The title or position of the donor, or the association of the donor with\nany other entity.\n(c) Anonymous donations shall be accepted without requiring any of the\ninformation provided in paragraph (b) of this subsection.\n(7) The Finance and Administration Cabinet may work in conjunction with\nmanagement consultants and others willing to give of their time and talents to create\na strategic plan to encourage individuals, foundations, associations, corporations,\nand other entities to make donations to the fund.","path":["KRS Chapter 61"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=42432","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:49:16Z","sha256":"9f7958a9f6c5a58628852c1ada28121e2efedc74f2c0b66933770c45274b5afc","source_id":"us-ky","stale":false,"prev":"us-ky/krs-61.705","next":"us-ky/krs-61.710"},"notice":"GroundRules: Original legal text. Not legal advice."}