102 KAR 1:070. Application for retirement.

      RELATES TO: KRS 161.600, 161.640

      STATUTORY AUTHORITY: KRS 161.310

      NECESSITY, FUNCTION, AND CONFORMITY: KRS 161.600 requires members who are eligible for retirement to apply for an annuity to receive benefit payments. This administrative regulation sets out procedures for filing of retirement applications and for determining effective dates of annuity payments.

      Section 1. Applications for retirement shall be filed on forms incorporated by reference in Section 5 of this administrative regulation.

      Section 2. Applications for retirement for service to be effective on July 1 shall be filed on or before June 1. Applications for retirement for service to be effective on June 1 shall be filed on or before May 1. A member eligible to retire may exercise this right during a school year in which he 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. Applications filed for retirement for service to be effective on dates other than July 1 or June 1 shall be effective as of the first of the month following the date the application is received in the Teachers' Retirement System office.

      Section 3. An application received by mail and bearing the U.S. Postal Service postmark dated on or before the filing date set out in Section 2 of this administrative regulation shall be accepted as having been filed in compliance with that section.

      Section 4. Applications 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. This provision shall apply to retirements that became effective on or after July 1, 1975.

      Section 5. Incorporation by Reference. (1) "Application for Service Retirement, Revised 2006", 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.)