Kentucky Statutes 18A.265 – Deferred compensation program to be in addition to retirement or benefit programs — Coordination of programs
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(1) Such a deferred compensation program shall be in addition to any retirement or any other benefit program provided by law for employees of this state. Any income deferred under such a plan shall continue to be included as regular compensation for the purpose of computing the retirement and pension benefits earned by any employee. But, any sum so deducted shall not be included in the computation of any income taxes withheld on behalf of any such employee.
(2) The board shall, jointly with the board of trustees of the Kentucky retirement systems, prepare and implement a program for advising employees on coordinating deferred compensation plans and retirement programs in order to achieve their retirement objectives.
Effective: July 15, 1982
History: Amended 1984 Ky. Acts ch. 234, sec. 2, effective July 13, 1984. — Repealed and reenacted as KRS § 18A.265, 1982 Ky. Acts ch. 448, sec. 53, effective July 15,
1982. — Created 1974 Ky. Acts ch. 143, sec. 8.
Formerly codified as KRS § 18.580.
(2) The board shall, jointly with the board of trustees of the Kentucky retirement systems, prepare and implement a program for advising employees on coordinating deferred compensation plans and retirement programs in order to achieve their retirement objectives.
Terms Used In Kentucky Statutes 18A.265
- Board: means the Personnel Board created by KRS §. See Kentucky Statutes 18A.005
- Employee: means a person regularly appointed to a position in the state service for which he or she is compensated on a full-time, part-time, or interim basis. See Kentucky Statutes 18A.005
- 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 15, 1982
History: Amended 1984 Ky. Acts ch. 234, sec. 2, effective July 13, 1984. — Repealed and reenacted as KRS § 18A.265, 1982 Ky. Acts ch. 448, sec. 53, effective July 15,
1982. — Created 1974 Ky. Acts ch. 143, sec. 8.
Formerly codified as KRS § 18.580.