Any member who withdraws from service prior to age 50 years after having completed at least 20 years of total service, and who does not accept a refund of contributions, shall receive, upon application, a certificate entitling him to a service retirement annuity upon his attainment of age 50, and specifying the amount of the annuity earned and accrued at the date of withdrawal from service.
Effective: July 1, 1956
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Terms Used In Kentucky Statutes 95.857

  • 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.

History: Created 1956 Ky. Acts ch. 16, sec. 7, effective July 1, 1956.

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