RELATES TO: KRS 161.600, 161.605(11), 161.640
STATUTORY AUTHORITY: KRS 161.310(1), 161.600(4)
NECESSITY, FUNCTION, AND CONFORMITY: KRS 161.310 requires the Board of Trustees of the Kentucky Teachers' Retirement System (KTRS) to promulgate all administrative regulations for the administration of the funds of the retirement system and for the transaction of business. KRS 161.600(4) requires the board to promulgate administrative regulations concerning application for an annuity to receive benefit payments. This administrative regulation establishes procedures for filing of retirement applications and for determining effective dates of annuity payments.
Section 1. Applications for retirement shall be filed on the Application for Service Retirement and shall include:
(1) A photocopy of the applicant’s signed Social Security card;
(2) A certified birth certificate;
(3) If applicable, a certified marriage license; and
(4) A voided or cancelled check from the institution to which monthly disbursements shall be electronically transmitted.
Section 2. Applications for retirement for service shall not be filed later than the first day of the month immediately preceding the month that retirement is to be effective.
(1) Retirement for service shall be effective on the first day of the month following the date that a properly completed and filed application is received at the offices of Kentucky Teachers’ Retirement System.
(2) A member eligible to retire may exercise this right during a school year in which the member has been in employment if there is filed with the application a statement from the chief administrative officer or other authorized representative of the employing board or agency to the effect that the member is being released from the employment contract for the purpose of retirement.
Section 3. An application received by mail and bearing the U.S. Postal Service postmark dated on or before the filing date established in Section 2 of this administrative regulation shall be accepted as having been filed in compliance with Section 2 of this administrative regulation.
Section 4. An application for service retirement may be approved by the board of trustees with an effective date that is retroactive up to a maximum of three (3) months if the member was not under contract for the period.
Section 5. The provisions of this administrative regulation shall apply to any member who is returning to retirement after having waived his or her retirement allowance under the provisions of KRS 161.605(11).
Section 6. Incorporation by reference. (1) "Application for Service Retirement", 2013, is incorporated by reference.
(2)This material may be inspected, copied, or obtained, subject to applicable copyright law, at Kentucky Teachers’ Retirement System, 479 Versailles Road, Frankfort, Kentucky 40601-3800, Monday through Friday, 8 a.m. to 5 p.m. (TRS-10; 1 Ky.R. 136; eff. 12-11-74; Am. 5 Ky.R. 22; eff. 9-6-78; 6 Ky.R. 682; eff. 8-6-80; 29 Ky.R. 2936; 30 Ky.R. 273; eff. 8-13-2003; 33 Ky.R. 1428; eff. 2-2-07; 35 Ky.R. 1817; 2400; eff. 6-5-09; 39 Ky.R. 1899; 2149; eff. 5-31-2013.)