{"data":{"id":"us-ky/krs-95.768","jurisdiction":"us-ky","citation":"KRS 95.768","heading":"Pension fund in cities establishing a fund under KRS 95.767 to 95.784 --","body":"Purpose -- Investment -- Coverage provided in County Employees Retirement\nSystem after August 1, 1988.\n(1) The police and firefighters' pension fund in cities that have est ablished a fund\npursuant to KRS 95.767 to 95.784 shall consist of:\n(a) Revenues of the city authorized by the city legislative body, which shall not be\nless than the amount contributed by the members of the police and fire\ndepartments;\n(b) All rewards, fee s, gifts or emoluments paid or given on account of\nextraordinary service of any member of the police or fire department;\n(c) Assessments, which the board of trustees of the pension fund shall make,\nupon each member of the police and fire departments, of no t more than three\nand one-half percent (3.5%) of his salary, to be held from the monthly salary\nand paid by the city treasurer or chief financial officer into the pension fund.\nBeginning July 15, 1982, and thereafter, upon a member's withdrawal from\nservice prior to qualifying for a pension, the board of trustees shall be\ngoverned by the provisions of KRS 95.620(2), (3) and (4).\n(2) Said fund shall be for the pensioning of any policeman or firefighter who has served\nin the police or fire departments for at least a period of twenty (20) years or more,\nproviding that applicant has reached his fifty -first birthday, and all members of the\npolice and fire departments shall be entitled to be credited with the services\nrendered continuously prior to the adoption or dinance under the provisions of KRS\n95.761, by said city, to the eligibility of the twenty (20) year or more, period for\npension, not less than three (3), nor to exceed fifteen (15) years of previous service,\nand for the further purpose of pensioning any m ember of the police or fire\ndepartment who may become permanently crippled while in the service and on duty,\nand for the further purpose of pensioning the widow or dependent children under\nfourteen (14) years of age, or either of them, of any member of sai d departments\nwho may lose his life while in the service and on active duty. The payments made\nunder the provisions of this section shall constitute and be kept as a fund to be\ncalled the \"Policemen's and Firefighters' Pension Fund,\" and the board of trustees of\nthe policemen's pension fund, are declared to be the trustees of said fund, and they\nshall have power, and it shall be their duty, from time to time, to invest the same, in\nwhole or in part, as they shall deem most advantageous for the objects of sa id fund;\nand they are empowered to make all the necessary contracts and to pursue all the\nnecessary remedies in the premises.\n(3) (a) After August 1, 1988, no new pension fund shall be created pursuant to this\nsection, and cities which were covered by this  section on or prior to August 1,\n1988, shall participate in the County Employees Retirement System effective\nAugust 1, 1988.\n(b) Cities which were covered by this section on or prior to August 1, 1988, shall\nprovide for the retirement of police or firefig hters rehired after August 1,\n1988, by placing such employees in the County Employees Retirement\nSystem.\n(c) Cities which were covered by this section on or prior to August 1, 1988, shall\nplace police or firefighters newly hired after August 1, 1988, in th e County\nEmployees Retirement System.\n(d) Cities which were covered by this section on or prior to August 1, 1988, shall\noffer employees hired on or prior to August 1, 1988, membership in the\nCounty Employees Retirement System under the alternate participa tion plan\nas described in KRS 78.530(3), but such employees may elect to retain\ncoverage under this section.\n(e) The city shall certify that all police and firefighters placed in the County\nEmployees Retirement System are employed in hazardous positions.","path":["KRS Chapter 95"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=44991","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:49:55Z","sha256":"79a81b2e23e45a17509b3593219ab31cd8fbf3fdff18d524c124354a6f422811","source_id":"us-ky","stale":false,"prev":"us-ky/krs-95.767","next":"us-ky/krs-95.769"},"notice":"GroundRules: Original legal text. Not legal advice."}