The contributions to the trust fund of participants’ deferred compensation represent private employee contributions. The assets and earnings of the trust fund shall at all times be preserved, invested, and expended solely for the purposes of the trust and shall be held in trust for the exclusive benefit of the participants and beneficiaries, and no right or interest therein shall exist in favor of the Commonwealth. The assets and earnings shall not be transferred or used by the Commonwealth for any purposes other than the purposes of the trust fund.
Effective: July 15, 2008

Terms Used In Kentucky Statutes 18A.252

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Employee: means a person regularly appointed to a position in the state service for which he or she is compensated on a full-time, part-time, or interim basis. See Kentucky Statutes 18A.005

History: Created 2008 Ky. Acts ch. 181, sec. 1, effective July 15, 2008.

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