102 KAR 1:260. Summary plan description

      Section 1. The summary plan description published in the form of a comprehensive booklet or in the form of periodic newsletters shall be mailed to the member’s last known home address or in the case of an active member may be mailed individually to the member’s work address.

 

      Section 2. A comprehensive summary plan description shall be mailed to new members within six (6) months of receipt of a valid membership application. (28 Ky.R. 2751; eff. 8-12-2002.)

Notation

      RELATES TO: KRS 161.580

      STATUTORY AUTHORITY: KRS 161.310

      NECESSITY, FUNCTION, AND CONFORMITY: KRS 161.310 requires the Board of Trustees of the Kentucky Teachers’ Retirement System to promulgate administrative regulations for the administration of the funds of the retirement system and for the transaction of business. KRS 161.580 requires the Board of Trustees to prepare and furnish to all active contributing members a summary plan description and to annuitants so much of the summary plan description as they need to understand changes in benefits which apply to them. This administrative regulation establishes the method of providing the summary plan description to members and the timeframe in which the summary plan description will be furnished to new members.