RELATES TO:
KRS
161.545,
161.5465,
161.600(1)(a),
(b),
161.612,
161.661(1)
NECESSITY, FUNCTION, AND CONFORMITY:
KRS
161.545 authorizes members of the Teachers'
Retirement System to receive service credit for substitute and part-time
service, towards which contributions were not otherwise made, only in
accordance with trustee administrative regulations.
KRS
161.310(1) requires the
Teachers' Retirement System Board of Trustees to promulgate administrative
regulations for the administration of the funds of the retirement system and
for the transaction of business. This administrative regulation establishes the
requirements for evaluating and crediting that service, including balance of
the year purchases.
Section 1. A
member substituting for at least seven-tenths (7/10) of the legal school year
for a local school district or districts may make contributions for a full year
and receive a full year of service credit.
Section 2.
(1) A member, not employed by a university,
college or community college, who is employed part time and who teaches or is
paid on the basis of at least seven-tenths (7/10) of regular full-time service
may make contributions for the balance of the contract year.
(2) Members who are employed on a part-time
basis after the start of a regular contract year shall not be eligible to
obtain service credit for any period of the contract year prior to the date of
their employment.
Section
3.
(1) Contributions for
substitute and part-time service pursuant to Section 1 or 2 of this
administrative regulation shall be based upon the equivalent annual contract
salary and shall be made by December 31 immediately following the year in which
the service occurred.
(2) Interest
charges of eight (8) percent per annum shall be added to payments made after
June 30 of the year that the service occurred.
(3) The total amount of service credit that
may be purchased pursuant to Sections 1 and 2 of this administrative regulation
shall not exceed five (5) years. Service purchased pursuant to Sections 1 and 2
of this administrative regulation shall be included in calculating the maximum
of five (5) years of nonqualified service credit that may be purchased in
accordance with
KRS
161.5465.
Section 4.
(1) Service credit for substitute teaching
and part-time employment rendered on or before June 30, 2002 and balance of the
year purchases based on substitute teaching and part-time employment provided
prior to June 30, 2002, shall have been purchased on or before December 31,
2002.
(2) Service credit for
substitute teaching rendered on or before June 30, 2002 shall not be used for
compliance with minimum service requirements as set out in
KRS
161.600(1)(a) and (b) and
161.661(1).
