Kentucky Statutes 61.663 – Excess benefit plan — Purpose — Excess benefit fund
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There is created and established:
(1) An excess benefit plan to be known as the Kentucky Employees Retirement System Excess Benefit Plan. The plan is created for the purpose of providing the retirement allowances payable from the retirement system under KRS § 61.515 to KRS § 61.705 that would otherwise be limited by 26 U.S.C. § 415.
(2) A state fund to be known as the Kentucky Employees Retirement System Excess
Benefit Fund which shall consist of all the assets of the plan.
(3) The administration and assets of the plan shall be as set forth in KRS § 61.652.
Effective: July 14, 2000
History: Created 2000 Ky. Acts ch. 385, sec. 31, effective July 14, 2000.
(1) An excess benefit plan to be known as the Kentucky Employees Retirement System Excess Benefit Plan. The plan is created for the purpose of providing the retirement allowances payable from the retirement system under KRS § 61.515 to KRS § 61.705 that would otherwise be limited by 26 U.S.C. § 415.
Terms Used In Kentucky Statutes 61.663
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- State: when applied to a part of the United States, includes territories, outlying possessions, and the District of Columbia. See Kentucky Statutes 446.010
(2) A state fund to be known as the Kentucky Employees Retirement System Excess
Benefit Fund which shall consist of all the assets of the plan.
(3) The administration and assets of the plan shall be as set forth in KRS § 61.652.
Effective: July 14, 2000
History: Created 2000 Ky. Acts ch. 385, sec. 31, effective July 14, 2000.