Section 61.663 - Excess benefit plan - Purpose - Excess benefit fundThere 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 61.705 that would otherwise be limited by 26 U.S.C. sec. 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:7/14/2000
Created 2000, Ky. Acts ch. 385, sec. 31, effective7/14/2000.