Kentucky Statutes 161.522 – Survivors of certain members retired for disability may elect annuity
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Upon the death of a member retired for disability who had a minimum of twenty-seven (27) years of service at the time of death, except as provided in KRS § 161.661(6), the spouse, if named as the primary beneficiary of the member’s account, shall be entitled to elect, in lieu of a refund of the member’s account, an annuity actuarially equivalent to the annuity that would have been paid to the deceased member had retirement for service been effective on the day immediately preceding the member’s death. This option shall be available only during the entitlement period described under KRS § 161.661(3) and (4) prior to the recalculation of the member’s disability allowance under KRS § 161.661(5). In selecting this right, the spouse shall be limited to selecting an option providing a straight life annuity with refundable balance or a term certain option. There shall be a monthly minimum allowance of three hundred dollars ($300) as the basic straight life annuity. This section applies to surviving spouses of members who were receiving benefit payments under KRS § 161.520 as of June 30, 1988, and to surviving spouses of members who die on or after July 1, 1984, except that the member shall have been retired for disability with a minimum of thirty (30) years of service if either of these two (2) conditions were met prior to July 1, 1990.
Effective: January 1, 2022
History: Amended 2021 Ky. Acts ch. 157, sec. 20, effective January 1, 2022. — Amended 2018 Ky. Acts ch. 107, sec. 55, effective July 14, 2018. — Amended 2008
Ky. Acts ch. 78, sec. 8, effective July 1, 2008. — Amended 2002 Ky. Acts ch. 275, sec. 15, effective July 1, 2002. — Amended 1996 Ky. Acts ch. 359, sec. 6, effective July 1, 1996. — Amended 1994 Ky. Acts ch. 369, sec. 9, effective July 1, 1994. — Amended 1990 Ky. Acts ch. 442, sec. 8, effective July 13, 1990; and ch. 476, Pt. V, sec. 511, effective July 13, 1990. — Created 1984 Ky. Acts ch. 253, sec. 14, effective July 1, 1984.
Legislative Research Commission Note (12/13/2018). On December 13, 2018, the
Kentucky Supreme Court ruled that the passage of 2018 SB 151 (2018 Ky. Acts ch.
107), did not comply with the three-readings rule of Kentucky Constitution Section
46 and that the legislation is, therefore, constitutionally invalid and declared void. That ruling applies to changes made to this statute in that Act.
Effective: January 1, 2022
Terms Used In Kentucky Statutes 161.522
- 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
- Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.
- Statute: A law passed by a legislature.
History: Amended 2021 Ky. Acts ch. 157, sec. 20, effective January 1, 2022. — Amended 2018 Ky. Acts ch. 107, sec. 55, effective July 14, 2018. — Amended 2008
Ky. Acts ch. 78, sec. 8, effective July 1, 2008. — Amended 2002 Ky. Acts ch. 275, sec. 15, effective July 1, 2002. — Amended 1996 Ky. Acts ch. 359, sec. 6, effective July 1, 1996. — Amended 1994 Ky. Acts ch. 369, sec. 9, effective July 1, 1994. — Amended 1990 Ky. Acts ch. 442, sec. 8, effective July 13, 1990; and ch. 476, Pt. V, sec. 511, effective July 13, 1990. — Created 1984 Ky. Acts ch. 253, sec. 14, effective July 1, 1984.
Legislative Research Commission Note (12/13/2018). On December 13, 2018, the
Kentucky Supreme Court ruled that the passage of 2018 SB 151 (2018 Ky. Acts ch.
107), did not comply with the three-readings rule of Kentucky Constitution Section
46 and that the legislation is, therefore, constitutionally invalid and declared void. That ruling applies to changes made to this statute in that Act.