KRS § 161.549 Purchase of service credit by individual who was employed at a Federal Head Start agency.

161.549 Purchase of service credit by individual who was employed at a Federal Head Start agency. A member of the Teachers' Retirement System who is in an active contributing status with the system, and who was formerly employed by a Federal Head Start agency, operated under 42 U.S.C. secs. 9831 et seq., which does not participate in a state- administered retirement system, may obtain credit for the period of the member's service in the Head Start program by purchasing this service credit under the same conditions that out-of-state service credit may be purchased under KRS 161.515. The service credit purchased may not be used for meeting the service requirements set forth in KRS 161.600(1)(a) or (2) or 161.661(1). Payment for the service credit purchased may be made in installments in lieu of a lump-sum payment. The payment shall not be picked up, as described in KRS 161.540(2), and the entire payment shall be placed in the teachers' savings fund. Effective: January 1, 2022 History: Amended 2021 Ky. Acts ch. 157, sec. 26, effective January 1, 2022. -- Amended 2018 Ky. Acts ch. 107, sec. 62, effective July 14, 2018. -- Amended 2004 Ky. Acts ch. 54, sec. 1, effective July 13, 2004. -- Amended 2000 Ky. Acts ch. 498, sec. 13, effective July 1, 2000. -- Created 1998 Ky. Acts ch. 268, sec. 1, effective July 15, 1998. Legislative Research Commission Note (12/13/2018). On December 13, 2018, the Kentucky Supreme Court ruled that the passage of 2018 SB 151 (2018 Ky. Acts ch. 107), did not comply with the three-readings rule of Kentucky Constitution Section 46 and that the legislation is, therefore, constitutionally invalid and declared void. That ruling applies to changes made to this statute in that Act.