18A.230 Definitions. As used in KRS 18A.230 to 18A.275, unless the context requires otherwise: (1) (2) (3) (4) (5) (6) (7) "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; "Income" means earnings of a person while an employee of the state and agencies thereof or public school system; "Asset" means any owned physical object or right having a monetary value; "Trust fund" means a fund consisting of assets received and held by a government unit or its designated custodian to be expended or invested in accordance with conditions of the trust; "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; "Board" means the board of trustees as established by KRS 18A.245; and "Authority" means the Kentucky Public Employees' Deferred Compensation Authority. Effective: July 15, 2010 History: 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 -- Repealed, reenacted, and amended as KRS 18A.230, 1982 Ky.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.
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