Kentucky Statutes 161.643 – Records and annual reports for annuitants employed by school districts or agencies — Penalty for noncompliance — System may require more frequent reporting
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(1) Each school district, institution, and agency employing annuitants of the retirement system shall have on file at the retirement system’s office an annual summary report of the days employed and the compensation paid to each annuitant and other data as required by administrative regulation of the board of trustees no later than August 1, following the completion of each fiscal year.
(2) The retirement system may impose a penalty on the employer not to exceed one thousand dollars ($1,000) when the employer does not meet the August 1 filing date or fails to provide the information required for employment of annuitants of the retirement system. However, the retirement system may waive the penalty for good cause.
(3) The retirement system may promulgate administrative regulations in accordance with KRS Chapter 13A to require employers to report more frequently than on an annual basis.
Effective: June 29, 2021
History: Amended 2021 Ky. Acts ch. 192, sec. 21, effective June 29, 2021. — Created
1994 Ky. Acts ch. 369, sec. 17, effective July 1, 1994.
(2) The retirement system may impose a penalty on the employer not to exceed one thousand dollars ($1,000) when the employer does not meet the August 1 filing date or fails to provide the information required for employment of annuitants of the retirement system. However, the retirement system may waive the penalty for good cause.
Terms Used In Kentucky Statutes 161.643
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
(3) The retirement system may promulgate administrative regulations in accordance with KRS Chapter 13A to require employers to report more frequently than on an annual basis.
Effective: June 29, 2021
History: Amended 2021 Ky. Acts ch. 192, sec. 21, effective June 29, 2021. — Created
1994 Ky. Acts ch. 369, sec. 17, effective July 1, 1994.