Each employer employing members of the Teachers’ Retirement System in positions established under educational acts adopted by the federal Congress shall contribute to the Teachers’ Retirement System an amount equal to that contributed by the members of that employer plus an additional two and forty-five hundredths percent (2.45%) for fiscal years 2003 and 2004. Beginning fiscal year 2005 and each year thereafter, each employer shall contribute an amount equal to the employer contribution provided under KRS
161.550.

Terms Used In Kentucky Statutes 161.555

  • Federal: refers to the United States. See Kentucky Statutes 446.010
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Year: means calendar year. See Kentucky Statutes 446.010

Effective: July 1, 2002
History: Amended 2002 Ky. Acts ch. 275, sec. 22, effective July 1, 2002. — Amended
1994 Ky. Acts ch. 369, sec. 23, effective July 1, 1994. — Repealed and reenacted
1990 Ky. Acts ch. 476, Pt. V, sec. 517, effective July 13, 1990. — Amended 1988
Ky. Acts ch. 363, sec. 19, effective July 1, 1988. — Amended 1974 Ky. Acts ch. 395, sec. 13, effective July 1, 1974. — Created 1966 Ky. Acts ch. 16, sec. 8.