{"data":{"id":"us-ky/krs-67a.430","jurisdiction":"us-ky","citation":"KRS 67A.430","heading":"Rate of retirement annuity -- Workers' compensation benefits credit --","body":"Increase of monthly annuity to $1,500 -- Annual adjustment.\n(1) (a) For a member whose participation date in the fund is prior to March 14, 2013,\nthe rate of retirement an nuity shall be two and one -half percent (2.5%) of\naverage salary, as defined in KRS 67A.360(13), for each year of total service.\n(b) For a member whose participation date in the fund is on or after March 14,\n2013, the rate of retirement annuity shall be tw o and one -quarter percent\n(2.25%) of average salary, as defined in KRS 67A.360(13), for each year of\ntotal service.\n(c) Fractional periods of service shall be considered in the calculation of such\nannuities according to the rate provided by paragraph (a) o r (b) of this\nsubsection, based upon the participation date of the member.\n(d) 1. Solely for purposes of calculating salary under this subsection, a\nmember who is receiving workers' compensation benefits from the\ngovernment shall be credited with any salar y the member would have\notherwise been paid while receiving workers' compensation benefits if\nthe member voluntarily elects to pay to the fund an amount equivalent to\nthe employee contribution established by KRS 67A.510 on the salary\nthe member did not rec eive during the period workers' compensation\nbenefits were paid.\n2. If the member elects to make the employee contribution payment to the\nfund authorized by this paragraph, the government shall pay to the fund\nan amount equivalent to the employer contribut ion required by KRS\n67A.520 on the salary the member did not receive during the period\nworkers' compensation benefits were paid.\n3. The provisions of this paragraph shall be retroactive and shall apply to\nall active members of the fund who have not retired  and to any member\nwho retired on or after January 1, 2021.\n(2) Any retiree or surviving spouse who, as of July 1, 2023, is receiving a monthly\nannuity of less than one thousand five hundred dollars ($1,500) shall have his or her\nmonthly annuity increased to one thousand five hundred dollars ($1,500), except for\nthose retirees and surviving spouses of retirees who are receiving disability benefits\nnot due to occupational causes as provided by KRS 67A.470. The board shall\nincrease this annuity at the same rate as annually provided by KRS 67A.690(1), and\nsuch increase shall be determined and granted annually thereafter by the board.\nOnce every two (2) years and solely at the board's discretion, the board may\nincrease the minimum monthly annuity provided by this subsection by no more than\nten percent (10%) above the most recent poverty level guidelines established by the\nfederal government for a two (2) person household and calculated on a monthly\nbasis.","path":["KRS Chapter 67A"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=54158","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:49:27Z","sha256":"855fb4b9031d535a809aa7d9297f86363a1c8a0b9c417f336403c2dee2a082c4","source_id":"us-ky","stale":false,"prev":"us-ky/krs-67a.420","next":"us-ky/krs-67a.440"},"notice":"GroundRules: Original legal text. Not legal advice."}