{"data":{"id":"us-ky/krs-67a.500","jurisdiction":"us-ky","citation":"KRS 67A.500","heading":"Withdrawal from service prior to retirement -- Refunds -- Forfeitures --","body":"Repayment upon reemployment.\n(1) Upon withdrawal from service prior to retirement, a member shall be entitled to\nreceive a refund of the amount of contributions made by the mem ber or picked up\nby the urban -county government pursuant to KRS 67A.510(2) after the date of\nestablishment, without interest. Payments of picked up employee contributions shall\nbe subject to state and federal tax as appropriate.\n(2) Any member receiving a refund of contributions shall thereby ipso facto forfeit,\nwaive, and relinquish all accrued rights and benefits in the system, including all\ncredited and creditable service. The board may, in its discretion, regardless of cause,\nwithhold payment of a refund for a period not to exceed six (6) months after receipt\nof an application from a member.\n(3) Any member who has received a refund shall be considered a new member upon\nsubsequent reemployment if such person qualifies for membership under KRS\n67A.360 to 6 7A.690. Any member who is reemployed after withdrawing from\nservice and who received a refund of contributions shall, within ninety (90) days of\nhis reemployment or prior to retirement, whichever occurs first, make a repayment\nto the system of the amount o r amounts previously received as a refund, including\ninterest at the rate determined by the board to be the actual rate of return on\ninvestments made by the board, but not less than three percent (3%) per annum,\nfrom the dates of the refund to the date of repayment, compounded annually. Upon\nthe restoration of such refunds, such member shall have reinstated to his account all\ncredited service represented by the refunds of which repayment has been made.\nRepayment of refunds by any member shall include all re funds received by a\nmember prior to the date of his last withdrawal from service, with interest, and shall\nbe made in a single lump sum payment. Repayments shall not be picked up by the\nurban-county government. If repayment is not made within the specified  time\nperiod, the member shall have forever forfeited, waived, and relinquished the right\nto have reinstated to his account the credited service represented by the refunds for\nwhich repayment was not made, but shall not be precluded from purchasing service\ncredit as provided in KRS 67A.402 if the member began participating in the fund\nprior to March 14, 2013.\n(4) Any member who has received, or who is entitled to receive, a refund, but who\nwithin six (6) months of becoming entitled to receive such refund, q ualifies for\nmembership under the provisions of a fund in effect in another government adopted\npursuant to law, shall have the option of paying his refund into such other fund, in\nwhich event he shall be deemed a member of such other fund and his account\ntherein shall be credited with all contributions, including those picked up pursuant\nto KRS 67A.510(2), and service under his original fund.","path":["KRS Chapter 67A"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=43622","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:49:27Z","sha256":"60bd76f058fb94ebc052d81586c91da9990b93256f7976b40335bb1987249e45","source_id":"us-ky","stale":false,"prev":"us-ky/krs-67a.492","next":"us-ky/krs-67a.510"},"notice":"GroundRules: Original legal text. Not legal advice."}