102 KAR 1:160. Annuity tables.

 

      RELATES TO: KRS 161.630, 161.400

      STATUTORY AUTHORITY: KRS 161.310

      NECESSITY, FUNCTION, AND CONFORMITY: KRS 161.310 requires the Board of Trustees for the Kentucky Teachers' retirement System to promulgate administrative regulations for the administrative of funds of the retirement system and for the transaction of business. This administrative regulation establishes the process for adoption of the actuarial tables to be used if a member of the Kentucky Teachers' Retirement System, upon retirement, elects the actuarial equivalent of annuity payments provided by KRS 161.620 through choice of an approved optional benefit.

 

      Section 1. The annuity values and option factor tables for use in calculating benefits shall be the tables prepared by the actuary at the direction of the Board of Trustees and adopted by the Board of Trustees by resolution, in accordance with KRS 161.400.

 

      Section 2. Incorporation by Reference. (1) "Annuity Table", 2009, 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, Monday through Friday, 8 a.m. to 5 p.m. (TRS-23(a); 1 Ky.R. 463; eff. 3-12-1975; Am. 17 Ky.R. 2478; 2939; eff. 4-5-1991; 36 Ky.R.1966; 2177; eff. 6-4-2010.)