You can spend hrs online trying to find the authorized record design that suits the federal and state requirements you want. US Legal Forms supplies a large number of authorized varieties that are reviewed by professionals. You can easily down load or print out the Kentucky Credit support agreement from our assistance.
If you already have a US Legal Forms accounts, you can log in and click on the Obtain button. Next, you can complete, change, print out, or indicator the Kentucky Credit support agreement. Each authorized record design you buy is yours for a long time. To have an additional copy of the acquired develop, visit the My Forms tab and click on the corresponding button.
If you work with the US Legal Forms site the first time, follow the easy guidelines under:
Obtain and print out a large number of record templates making use of the US Legal Forms website, which provides the greatest assortment of authorized varieties. Use specialist and condition-specific templates to handle your small business or specific needs.
A nonhazardous member, age 65 or older, with at least 48 months of service credit is eligible to receive an unreduced monthly benefit for life based on the member's salary and service credit. A nonhazardous member with 27 or more years of service credit can retire at any time with no reduction in benefits.
$5,000 Death Benefit A retiree may name one person, his or her estate, a trust, or a funeral home as beneficiary for this benefit.
A nonhazardous member, age 57 or older, may retire with no reduction in benefits if the member's age and years of service equal 87 ?(Rule of 87). A nonhazardous member, age 65, with at least 60 months of service credit may retire at any time with no reduction in benefits.
In order to process a refund of their accumulated account balance, members must complete a Form 4525, Application for Refund of Member Contributions and Direct Rollover/Direct Payment Selection?. The member's employer is also required to report the termination date on the monthly report to KPPA.
Final compensation is determined by dividing the total salary earned (5-High or 3-High) by the total months worked, then multiplying by twelve (12) to annualize. Nonhazardous retirement benefits are based upon 5-High Final Compensation.
Non-Haz Tier 2, 3 & 4: May retire with full benefits at 65 with 5 years service or Rule of 87 with a minimum age of 57. Haz Tier 1: Retire with full benefits after 20 years or at age 55 with 5 years of service. Haz Tier 2 & 3: Retire with full benefits after 25 years or at age 60 with 5 years of service.
Members with at least 27 years of Kentucky service are eligible to retire with unreduced benefits.