§ 21.345 Definitions
§ 21.347 Judicial Retirement Plan — Judicial retirement fund — Established
§ 21.350 Establishment of system membership
§ 21.357 Summary plan description — Publication — Recipients
§ 21.360 Election to participate — Delayed election
§ 21.370 Term of service to qualify if member began participating before January 1, 2014 — Transfer of service credit to Judicial Retirement Plan — Purchase of service credit for service as police judge and for military service — Special provisions for ac
§ 21.372 Limitations and exclusions on increases in final compensation for members retiring on or after January 1, 2018 — Exception for bona fide promotion or career development — Exclusion — Determination by board — Administrative regulations — Inappli
§ 21.374 Election by member participating in the Legislators’ Retirement Plan or the Judicial Retirement Plan on or after September 1, 2008, but before January 1, 2014 — Participation in hybrid cash balance plan — Private letter ruling — Administrative re
§ 21.375 Vesting through combined service credit
§ 21.380 Normal retirement age
§ 21.385 Payment of benefits while continuing in service — Options for member who began participating before January 1, 2014 — Multiple retirements by one person
§ 21.400 Computation of retirement allowance for member who began participating before January 1, 2014 — Benefit reduction for early retirement
§ 21.402 Hybrid cash balance plan for certain members of Legislators’ Retirement Plan and Judicial Retirement Plan — Member contributions and employer pay credits — Interest credits — Termination of employment — Options upon retirement — Individual memb
§ 21.405 Increase of retirement benefits
§ 21.410 Disability retirement — Computation
§ 21.415 Disability retirement benefits
§ 21.420 Death benefits for members — Designation of beneficiary to receive accumulated contributions or accumulated account balance
§ 21.425 Benefits to surviving or disabled children of members who began participating before January 1, 2014 — Designation of beneficiaries
§ 21.427 Health insurance and benefits for recipients — Premium reimbursement plan — Coordination with all state-administered retirement systems or plans
§ 21.440 Duties of investment committee — Duties of board — Actuarial valuations, investigations, and analyses — Audit
§ 21.450 Funding of benefits — Trustee — Duties of board members, investment manager or other fiduciary, or proxy advisor — Accrual of benefits — Standards of conduct
§ 21.460 Refund of contributions or account balance for members who began participating before January 1, 2014 — Purchase of service credit — Interest on deferred refunds — Repayment
§ 21.470 Exemption from taxation, execution — Taxability after December 31, 1997
§ 21.480 KRS 21.350 to 21.510 creates vested interest for members who began participating before January 1, 2014 — Exception — Amendment of benefits and rights
§ 21.510 Appropriation — Transfer of funds to judicial retirement fund
§ 21.525 Contributions by state — Normal cost and actuarially accrued liability contributions — Employer costs for hybrid cash balance plan
§ 21.530 Coordination of Legislators’ Retirement and Judicial Retirement Plans — Board
§ 21.540 Duties of board of trustees — Qualified domestic relations orders — Intent to conform with federal law — Availability of information on website — Conflicts of interest — Prohibition against fees for unregulated placement agents — Investment pr
§ 21.550 Investments, judicial retirement fund
§ 21.560 Investments — Legislative retirement fund
§ 21.565 Administration and assets of plan created under KRS 21.567
§ 21.567 Kentucky Judicial Retirement Plan excess benefit plan — Excess benefit fund
§ 21.570 Nonseverability of provisions
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Terms Used In Kentucky Statutes > Chapter 21 - Judicial Retirement

  • Action: includes all proceedings in any court of this state. See Kentucky Statutes 446.010
  • Affiliate: means any person who directly or indirectly through one (1) or more intermediaries controls, is controlled by, or is under common control with, another person. See Kentucky Statutes 286.11-003
  • Affirmed: In the practice of the appellate courts, the decree or order is declared valid and will stand as rendered in the lower court.
  • Agent: means a person authorized by written agreement and designated by the licensee to act on behalf of a licensee under the provisions of this subtitle. See Kentucky Statutes 286.11-003
  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Amortization: Paying off a loan by regular installments.
  • 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.
  • any other state: includes any state, territory, outlying possession, the District of Columbia, and any foreign government or country. See Kentucky Statutes 446.010
  • Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
  • Applicant: means a person filing an application or renewal application for a license under this subtitle. See Kentucky Statutes 286.11-003
  • Appropriation: means an authorization by the General Assembly to expend, from public funds, a sum of money not in excess of the sum specified, for the purposes specified in the authorization and under the procedure prescribed in KRS Chapter 48. See Kentucky Statutes 446.010
  • Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
  • Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
  • Attorney: means attorney-at-law. See Kentucky Statutes 446.010
  • Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
  • 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
  • Biennium: means the two (2) year period commencing on July 1 in each even- numbered year and ending on June 30 in the ensuing even-numbered year. See Kentucky Statutes 446.010
  • branch budget: means an enactment by the General Assembly which provides appropriations and establishes fiscal policies and conditions for the biennial financial plan for the judicial branch, the legislative branch, and the executive branch, which shall include a separate budget bill for the Transportation Cabinet. See Kentucky Statutes 446.010
  • Certified mail: means any method of governmental, commercial, or electronic delivery that allows a document or package to have proof of:
    (a) Sending the document or package. See Kentucky Statutes 446.010
  • City: includes town. See Kentucky Statutes 446.010
  • Commissioner: means the commissioner of the Department of Financial
    Institutions. See Kentucky Statutes 286.1-010
  • Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
  • Continuance: Putting off of a hearing ot trial until a later time.
  • Contract: A legal written agreement that becomes binding when signed.
  • Control: means :
    (a) Ownership of, or the power to vote, directly or indirectly, twenty-five percent (25%) or more of a class of voting securities or voting interests of a licensee or applicant, or person in control of a licensee or applicant. See Kentucky Statutes 286.11-003
  • Controlling person: means any person in control of a licensee. See Kentucky Statutes 286.11-003
  • Conviction: A judgement of guilt against a criminal defendant.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Corporation: may extend and be applied to any corporation, company, partnership, joint stock company, or association. See Kentucky Statutes 446.010
  • Department: means the Kentucky Department of Financial Institutions. See Kentucky Statutes 286.11-003
  • Dependent: A person dependent for support upon another.
  • Devise: To gift property by will.
  • Director: means a member of a licensee's or applicant's board of directors if the applicant or licensee is a corporation, or manager if the applicant or licensee is a limited liability company, or a partner if the applicant or licensee is a partnership. See Kentucky Statutes 286.11-003
  • Directors: when applied to corporations, includes managers or trustees. See Kentucky Statutes 446.010
  • Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Executive officer: means the president, chairperson of the executive committee, responsible individual, chief financial officer, and any other person who performs similar functions. See Kentucky Statutes 286.11-003
  • Federal: refers to the United States. See Kentucky Statutes 446.010
  • Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. Source: OCC
  • Fiduciary: A trustee, executor, or administrator.
  • Financial institution: means any person doing business under the laws of any state or commonwealth or the United States relating to banks, bank holding companies, savings banks, savings and loan associations, trust companies, or credit unions. See Kentucky Statutes 286.11-003
  • Foreign: when applied to a corporation, partnership, limited partnership, business trust, statutory trust, or limited liability company, includes all those incorporated or formed by authority of any other state. See Kentucky Statutes 446.010
  • Forgery: The fraudulent signing or alteration of another's name to an instrument such as a deed, mortgage, or check. The intent of the forgery is to deceive or defraud. Source: OCC
  • Fraud: Intentional deception resulting in injury to another.
  • Garnishment: Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtor
  • Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
  • Indictment: The formal charge issued by a grand jury stating that there is enough evidence that the defendant committed the crime to justify having a trial; it is used primarily for felonies.
  • Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
  • Insolvent: means that appearing upon examination of any licensee or its agent that its liabilities exceeds its assets or it cannot meet its obligations in the usual and ordinary course of business for any reason. See Kentucky Statutes 286.11-003
  • Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Key shareholder: means any person, or group of persons acting in concert, who is the owner of twenty percent (20%) or more of any voting class of an applicant's or
    licensee's stock. See Kentucky Statutes 286.11-003
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Licensee: means a person licensed under this subtitle. See Kentucky Statutes 286.11-003
  • Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
  • Monetary value: means a medium of exchange whether or not redeemable in money. See Kentucky Statutes 286.11-003
  • Money: means a medium of exchange that is authorized or adopted by the United States or a foreign government or other recognized medium of exchange, including a monetary unit of account established by an intergovernmental organization or by agreement between two (2) governments. See Kentucky Statutes 286.11-003
  • Money transmission: means engaging in the business of receiving money or monetary value to transmit, deliver, or instruct to be transmitted or delivered, money or monetary value to another location inside or outside the United States by any and all means, including but not limited to wire, facsimile, electronic transfer, or issuing stored value. See Kentucky Statutes 286.11-003
  • Money transmitter: means a person that is engaged in money transmission. See Kentucky Statutes 286.11-003
  • Net worth: means the excess of assets over liabilities as determined by generally accepted accounting principles. See Kentucky Statutes 286.11-003
  • Oath: A promise to tell the truth.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Payment instrument: means :
    1. See Kentucky Statutes 286.11-003
  • Person: means any individual, corporation, business trust, estate, trust, partnership, limited liability company, association, organization, joint venture, government and any subdivision, agency or instrumentality thereof, or any other legal or commercial
    entity. See Kentucky Statutes 286.11-003
  • Probate: Proving a will
  • Proxy voting: The practice of allowing a legislator to cast a vote in committee for an absent legislator.
  • Record: means information that is inscribed on a tangible medium, or that is stored in an electronic or other medium, and is retrievable in perceivable form. See Kentucky Statutes 286.11-003
  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
  • Remit: means either to make direct payment of the funds to the licensee or its representatives authorized to receive those funds, or to deposit the funds in a bank, credit union, or savings and loan association, or other similar financial institution in an account specified by the licensee. See Kentucky Statutes 286.11-003
  • Responsible individual: means an individual who is employed by a licensee and has principal managerial authority over the provision of money transmission by the licensee in this state. See Kentucky Statutes 286.11-003
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • State: means a state or commonwealth of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands, or any territory or insular possession that is subject to the jurisdiction of the United States. See Kentucky Statutes 286.11-003
  • Statute: A law passed by a legislature.
  • Subpoena: A command to a witness to appear and give testimony.
  • Testify: Answer questions in court.
  • Treatment: when used in a criminal justice context, means targeted interventions
    that focus on criminal risk factors in order to reduce the likelihood of criminal behavior. See Kentucky Statutes 446.010
  • Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
  • Trustee: A person or institution holding and administering property in trust.
  • Unsafe or unsound practice: means a practice or conduct by a person licensed to provide money transmission, or an agent of such a person, which creates the likelihood of material loss, insolvency, or dissipation of the licensee's assets, or otherwise materially prejudices the financial condition of the licensee or the interests of its customers. See Kentucky Statutes 286.11-003
  • Violate: includes failure to comply with. See Kentucky Statutes 446.010