Ky. Rev. Stat. § 18A.230

Current through 2024 Ky. Acts ch.225

Section 18A.230 - Definitions

As used in KRS 18A.230 to 18A.275, unless the context requires otherwise:

(1) "Employee" means a person holding an office, position or employment in state government and agencies thereof and also includes persons in the public school system;

(2) "Income" means earnings of a person while an employee of the state and agencies thereof or public school system;

(3) "Asset" means any owned physical object or right having a monetary value;

(4) "Trust fund" means a fund consisting of assets received and held by a government unit or its designated custodian to be expended or invested in accordance with conditions of the trust;

(5) "Deferred compensation" means a method which allows employees to authorize income to be deducted from their current earning and set aside to be paid at a later date;

(6) "Board" means the board of trustees as established by KRS 18A.245;

(7) "Authority" means the Kentucky Public Employees' Deferred Compensation Authority; and

(8) "Financial planning" means the process of determining whether and how a participant can meet retirement goals through the proper management of financial resources.

KRS 18A.230

Effective: June 29, 2021

Amended 2021 Ky. Acts ch. 111, sec. 1, effective June 29, 2021. -- Amended 2010 Ky. Acts ch. 122, sec. 1, effective July 15, 2010. -- Repealed, reenacted, and amended as KRS 18A.230, 1982 Ky. Acts ch. 448, sec. 46, effective July 15, 1982. -- Created 1974 Ky. Acts ch. 143, sec. 2.

Amended by 2021 Ky. Acts ch. 111,§ 1, eff. 6/29/2021.

Effective:7/15/2010
Amended 2010, Ky. Acts ch. 122, sec. 1, effective7/15/2010. -- Repealed, reenacted, and amended as KRS 18A.230, 1982 Ky. Acts ch. 448, sec. 46, effective 7/15/1982. -- Created 1974 Ky. Acts ch. 143, sec. 2.

Formerly codified asKRS 18.510.