KRS § 95.624 Pensions in cities adopting alternative provisions of KRS 95.621 -- Service retirement -- Disability pensions -- Survivor's benefits -- Increase in benefits -- Health insurance for retirees.

95.624 Pensions in cities adopting alternative provisions of KRS 95.621 -- Service retirement -- Disability pensions -- Survivor's benefits -- Increase in benefits -- Health insurance for retirees. (1) In cities that have adopted the alternative pension fund provisions authorized by KRS 95.621, any member of the police or fire department having served twenty (20) years or longer in the police or fire department may petition the board of trustees for retirement; and if his petition is granted, the board may order paid to him monthly fifty percent (50%) of his monthly salary at the time of retirement. If this petition for retirement is denied, any policeman or firefighter has the right of appeal in accordance with the Rules of Civil Procedure. (2) The pension payable for periods of service between twenty (20) and twenty-five (25) years shall be fifty percent (50%) of salary plus two percent (2%) of salary for each year in excess of twenty (20). The pension payable for twenty-five (25) years of service shall be sixty percent (60%) of salary. The pension payable for periods of service between twenty-five (25) and thirty (30) years shall be sixty percent (60%) of salary plus three percent (3%) of salary for each year in excess of twenty-five (25). The pension payable for thirty (30) years of service shall be seventy-five percent (75%) of salary. (3) The pensions or benefits paid for disability or death from the policemen's and firefighters' pension fund created under KRS 95.622 shall be as follows: (a) If any member of the police and fire department becomes temporarily totally disabled, physically or mentally, the board of trustees of the pension fund shall order paid to him monthly, during his disability, until he has recovered and returned to active duty, a sum of not more than one-half (1/2) his salary per month, the amount to be determined by the board. This provision shall not apply if a salary is paid during the same period. (b) If any member of the police or fire department becomes permanently disabled, physically or mentally, so as to render necessary his retirement from service in the department, the board of trustees shall retire him from service and order paid to him monthly fifty percent (50%) of his monthly salary at the time of his retirement. (c) If any member of the police or fire department is killed or dies as the result of an injury received in the performance of duty, or dies of any disease contracted by reason of his occupation, or dies while in the service from any cause as a result of his service in the department, or dies in service or while on the retired list from any cause after one (1) year of service in the department and leaves a widow or a child under eighteen (18) years of age, the board of trustees shall order a pension paid to the widow, while unmarried, of one-half (1/2) of salary per month and for each child until it reaches the age of eighteen (18) years, twenty-four dollars ($24) per month. The board may provide a minimum benefit of no more than four hundred dollars ($400) per month, initially, to the surviving spouse if the benefit can be supported on an actuarially-sound basis by the fund. The board may increase the minimum benefit pursuant to the terms of subsection (4) of this section. If the deceased member was unmarried and childless, a pension shall be paid to his dependent father and mother of one-fourth (1/4) of salary per month. If one (1) parent is dead, the other shall receive the entire one-fourth (1/4) salary. (4) In order to adjust retirement benefits to the purchasing power of the dollar, the board shall if it is actuarially feasible annually order an increase in benefits paid pursuant to this section. The board shall if it is actuarially feasible order an increase in benefits by an amount equal to the increase in the cost-of-living increase for a recipient of Social Security, but the annual increase shall not exceed five percent (5%). (5) The board may provide a group hospital and medical insurance plan for retirees and their spouses who have not reached the age to qualify for federal Medicare, if providing insurance will not jeopardize the capacity of the board to pay retirement and survivor benefits. No insurance shall be provided for persons who are entitled to Medicare benefits or are receiving Medicare benefits, except that supplemental health insurance may be provided to those retirees and their spouses who are entitled to Medicare benefits or are receiving Medicare benefits if providing the supplemental health insurance will not jeopardize the capacity of the board to pay other existing retirement and survivor benefits. Effective: January 1, 2015 History: Amended 2014 Ky. Acts ch. 92, sec. 135, effective January 1, 2015. -- Amended 2008 Ky. Acts ch. 65, sec. 1, effective July 15, 2008. -- Amended 1998 Ky. Acts ch. 260, sec. 4, effective July 15, 1998. -- Amended 1996 Ky. Acts ch. 109, sec. 2, effective July 15, 1996. -- Amended 1994 Ky. Acts ch. 50, sec. 5, effective July 15, 1994. -- Amended 1990 Ky. Acts ch. 118, sec. 2, effective July 13, 1990. -- Amended 1982 Ky. Acts ch. 90, sec. 4, effective July 15, 1982. -- Amended 1978 Ky. Acts ch. 164, sec. 31, effective June 17, 1978. -- Created 1966 Ky. Acts ch. 8, secs. 4 and 5.