Kentucky Statutes 65.154 – “Employer”, “employee” defined — Spouse to acknowledge action in writing if not named as beneficiary by employee
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(1) KRS § 344.030 notwithstanding, for the purposes of this section, “employer” shall mean the sponsor of and “employee” shall mean a member of a pension plan governed by the federal “Employee Retirement Income Security Act of 1974,” and any member of a state pension plan or a pension plan of any unit of local government.
(2) For any employee who elects not to take a joint and survivor annuity or who selects a beneficiary other than the spouse if living, the employer shall provide forms which provide for the spouse of the employee to acknowledge by signature such action.
Effective: July 13, 1984
History: Created 1984 Ky. Acts ch. 239, sec. 1, effective July 13, 1984.
(2) For any employee who elects not to take a joint and survivor annuity or who selects a beneficiary other than the spouse if living, the employer shall provide forms which provide for the spouse of the employee to acknowledge by signature such action.
Terms Used In Kentucky Statutes 65.154
- Action: includes all proceedings in any court of this state. See Kentucky Statutes 446.010
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Federal: refers to the United States. See Kentucky Statutes 446.010
- State: when applied to a part of the United States, includes territories, outlying possessions, and the District of Columbia. See Kentucky Statutes 446.010
Effective: July 13, 1984
History: Created 1984 Ky. Acts ch. 239, sec. 1, effective July 13, 1984.