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' m eans 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 g overnment 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. Effective: June 29, 2021 History: Amended 2021 Ky. ning' means the process of determining whether and how a participant can meet retirement goals through the proper management of financial resources. Effective: June 29, 2021 History: 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 -- Repealed, reenacted, and amended as KRS 18A.230, 1982 Ky.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. Formerly codified as KRS 18.510.
Kentucky Legal Code