News

Changes to Cost-Of-Living Adjustments (COLAs) Calculator

Suspensions to Cost-Of-Living Adjustments (COLAs) may not seem like a large amount upfront, but over time those missing adjustments can amount to tens of thousands of dollars withheld from retired teachers over the course of their retirement. Jump to Calculator The TRS COLA’s are pre-funded. 1.74 percent of an active teacher’s paycheck during his orRead More…

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KRTA Urges Lawmakers to Drop COLA Suspension, Keep Pension Plans for Teachers

WKMS 91.3 FM – 12/12/2017 (reprinted) By Matt Markgraf Click here to view the full article The Kentucky Retired Teachers Association is calling on lawmakers to drop the proposed suspension of cost-of-living adjustments, keep defined benefit plans, fully-fund the system and not alter the TRS board. Executive Director Tim Abrams and former Executive Director BobRead More…

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House GOP lawmakers Send Letter Asking Gov. Bevin Not to Call Special Session

Spectrum News – 11/17/2017 (reprinted) By Nick Storm Click here to view the full article House Republican lawmakers sent a letter on Wednesday calling for Gov. Matt Bevin, R-Kentucky, to wait on calling a special session, and take up pension reform during the regular session in January during the regular session. Bevin has been adamantRead More…

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WFPL Discussion Now Available for Re-Listen

Last night 12/5/17 at 7pm, guests joined WFPL 89.3 FM for a discussion of pension reform in Kentucky and how it would affect state workers. Guest on the program included: Senator Morgan McGarvey (D-19th), Representative Jerry Miller (R-36th), Kentucky State Budget Director John Chilton, and Diane Oakley, Executive Director of the National Institute on Retirement Security.

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Pension Reform Discussion on WFPL Tonight at 7 p.m. EST

With a special session looming, WFPL radio out of Louisville will take a deep dive on Gov. Bevin’s pension reform proposal in depth today, Tuesday, Dec. 5 at 7 p.m. EST during a LIVE show. Expected guests are:  Diane Oakley, Executive Director of the National Institute on Retirement Security, Tom Loftus, journalist covering Kentucky Statehouse for CourierRead More…

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New Talking Points for Teachers

Thanks to all who joined us Thursday evening for the Tele Town Hall. I hope the information was beneficial. Below you will find the talking points that were discussed during the teleconference and critical phone numbers. As mentioned last evening, we are entering a critical time, please call your legislator next week and share yourRead More…

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KRTA Town Hall Phone Conference

On Thursday, November 30 at 7p.m., call-in as the KRTA is hosting a phone conference in the hopes of better answering questions from current and future retired teachers around the state concerning the state of pension reform. The telephone town hall will primarily cover the dramatic impact that suspensions to Cost-Of-Living Adjustments (COLAs) will haveRead More…

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Teachers’ Pension Fund Gains 15% With New Funding

Below is a news update released this past weekend by the Teachers’ Retirement System of Kentucky. The TRS update found that, because the Kentucky General Assembly actually made a contribution to the system (the first by the state since 2008), the unfunded liability decreased and the TRS system posted a 15.37 percent gross gain onRead More…

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Changes to Cost-Of-Living Adjustments (COLAs) Calculator

Suspensions to Cost-Of-Living Adjustments (COLAs) may not seem like a large amount upfront, but over time those missing adjustments can amount to tens of thousands of dollars withheld from retired teachers over the course of their retirement. Jump to Calculator The TRS COLA’s are pre-funded. 1.74 percent of an active teacher’s paycheck during his orRead More…

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Gov. Bevin: A ‘Special Session is Coming’ for Pension Reform

WHAS11 News Louisville – 11/17/2017 (reprinted) By Chris Williams Click here to view the full article   FRANKFORT, Ky. (WHAS11) — Late Friday afternoon Kentucky Governor Matt Bevin briefly remarked that he will call for a special session to address one of the Commonwealth’s biggest issues, pension reform. Governor Bevin did not say when itRead More…

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Column: Why Ky. Teachers Aren’t ‘Jumping for Joy’

Community Recorder – 11/13/2017 (reprinted) By Janet Sogar, Community Recorder guest columnist Click here to view the full article In his Viewpoints column on Nov. 9, State Sen. Damon Thayer had high praise for Governor Bevin’s proposed changes to the ailing state pension system. He is certain that these changes will “keep the pension promiseRead More…

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Analysis of Proposed Pension Reform at KTRS Shouldn’t “Be Surprising to Anybody that Understands How These Proposals Work,” Head of KCEP Says

Spectrum News – 11/17/2017 (reprinted) By Kevin Wheatley Click here to view the full article As the calendar draws closer to the end of the year, policymakers are still cobbling together a pension reform proposal ahead of a possible special session before lawmakers return to Frankfort in 2018 to write a two-year spending plan. LastRead More…

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Updated pension reform bill in the works, new pension oversight co-chair says

Spectrum News – 11/16/2017 (reprinted) Opinion By Nick Storm Click here to view the full article As the House of Representatives finds it’s footing amid an alleged sexual harassment settlement which that caused Rep. Jeff Hoover’s resignation as speaker and sparked an investigation, the new co-chair of the Public Pension Oversight Board says work isRead More…

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Governor, changing, hiding pension scores won’t solve the problem

Herald-Leader – 11/14/2017 (reprinted) Opinion By Michael Reaves Click here to view the full article Look, we know Gov. Matt Bevin has had a tough time with his plan to upend public pensions in Kentucky. But that’s not an excuse to rejigger the numbers from independent actuaries that make his plan look even worse thanRead More…

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Bevin Wants Redo of Predicted $4.4 Billion Cost of His Pension Plan for Teachers

Herald-Leader – 11/14/2017 (reprinted) By John Cheves Click here to view the full article Gov. Matt Bevin’s administration wants a redo on an analysis of how much his proposed pension bill would cost the Teachers’ Retirement System of Kentucky. The Bevin administration — which has blocked the release of a similar analysis of how much his billRead More…

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Why a 401(k) is No Replacement for a Pension

neaToday – 3/23/2012 (reprinted) By Cindy Long Click here to view the full article Longtime friends Brenda Brum and Dolores Townsend have a lot in common. They both like antiquing and poking around flea markets. They both care for an elderly parent. They both taught at the same school. And they both avoided a financialRead More…

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Pensions and the Cost of Teacher Turnover in Alaska

National Public Pension Coalition – 5/25/2017 (reprinted) By Tyler Bond Click here to view the full article States across the country, from Wisconsin to Oklahoma to Alaska, are experiencing teacher shortages. Fewer people are preparing to become teachers and it is becoming more difficult for states to find qualified individuals to replace teachers who quit or retire. A recent study from theRead More…

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Kentucky Pension Crisis Could Force Dedicated Teachers Out of Classroom

WPSD Local 6 – 9/19/2011 (reprinted) By Amanda Roberts Click here to view the full article   MARSHALL COUNTY, KY – How will Kentucky’s pension crisis affect your child’s education? The recommendation from consultants that some state retirees convert to 401Ks instead of a state pension plan has left some state workers desperate for answers.Read More…

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Why States Shouldn’t Adopt Defined-Contribution Pensions

Reuters – 3/1/2011 (reprinted) By Felix Salmon Click here to view the full article Steven Greenhouse has a long article in today’s NYT about an attempt by the states to deal with their “strained” pension funds by moving to defined-contribution pension plans. Here’s the lede: Lawmakers and governors in many states, faced with huge shortfalls in employee pensionRead More…

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Bevin Withholds Analysis of How Much His Pension Plan Would Cost Taxpayers

Herald-Leader – 11/13/2017 (reprinted) By John Cheves Click here to view the full article   FRANKFORT – Already reeling from bad fiscal reviews, Gov. Matt Bevin’s administration refused Monday to release an actuarial analysis showing how much money the Republican’s proposed pension reform plan would cost Kentucky taxpayers who support state and local governments. The Kentucky Retirement Systems BoardRead More…

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401(k)s: A Bad Deal for Taxpayers

The New York Times – 4/7/2011 (reprinted) Opinion By Teresa Ghilarducci Click here to view the full article If having trouble with link above click here to view full NYTimes article on archive.org Teresa Ghilarducci, the Bernard L. and Irene Schwartz Chair of Economic Policy Analysis at the New School for Social Research, is theRead More…

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Take this 401(k) and Shove It

3/6/2009 – CNN Money (reprinted) By Janice Revell Click here to view the full article Last week, West Virginia teachers got to vote on whether to remain in 401(k)-style retirement plans or return to generous state pensions. But you won’t be so lucky.   NEW YORK (Money) — Last week’s West Virginia election should frightenRead More…

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Pension Plan for Teachers Would Cost Taxpayers $4.4 Billion

11/9/2017 – Associated Press (reprinted) By Adam Beam Click here to view the full article Kentucky Gov. Matt Bevin’s plan to overhaul the retirement system for public school teachers would cost taxpayers an extra $4.4 billion over the next 20 years, according to a new analysis, a whopping cost that potentially complicates the proposal’s prospectsRead More…

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New Shared Responsibility Plan from Superintendents

Many KRTA members have asked to see specifics of the Shared Responsibility Plan that was released at a press conference in Woodford County on Monday November 6 by Kentucky education leaders. Below are the talking points that were released at the press conference and how the plan would affect members of TRS.   We appreciateRead More…

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Bevin underestimates Kentucky teachers. They’ve dealt with bullies before.

9/18/2017 – Lexington Herald-Leader (reprinted) By Tom Eblen Click here to view the full article Governor Matt Bevin took to Facebook Live to call out former Fayette County Superintendent Tom Shelton, who called on schools to dismiss teachers to protest pension reform. Governor Matt Bevin Facebook Gov. Matt Bevin doesn’t fool Kentucky teachers. They haveRead More…

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Pension framework breaks the promise made to teachers — here’s how

Oct 28th, 2017 Reprinted from the Northern Kentucky Tribune – Click Here to Read Actual Article By Tim Abrams, Executive Director Elect, KRTA Let’s remember how we got into this pension mess in the first place. Frankfort — not our current and retired teachers — failed to live up to its fiduciary responsibility to properly fundRead More…

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Read the Pension Reform Bill

The Full Pension Bill has been released. Click to read the Pension Reform Bill for yourself.     

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The Truth About The Lack of Pension Funding

Earlier this week, Senate President Stivers held a press conference tried to absolve the legislature of responsibility for not properly funding the pension system. Here is the other side of the story. Many of you have asked about the validity of Senate President Stivers negative comments about TRS this week.  Here is the truth:  Read More…

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Win-Win: Pensions Efficiently Serve American Schools and Teachers

A recent article reprinted below shows that defined benefit plans (pensions) are a more efficient way of helping schools and teachers deal with retirement.  Very important was we continue to debate Kentucky Pension Reform. To see actual article click here. A new report finds that defined benefit (DB) teacher pension plans work for both schoolsRead More…

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KRTA Statement on Pension Proposal

The Kentucky Retired Teachers Association (KRTA) looks forward to carefully reviewing Governor Bevin’s pension reform proposal discussed at a press conference this morning. We appreciate that policymakers have listened to our concerns and have indicated their willingness to keep its commitment to retired educators. However, it is unclear how the proposed reforms could possibly beRead More…

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Head of Ky. Retired Teachers Association Shares His Group’s Concerns as Pension Reform Talks Continue

10/11/2017 – Spectrum News (reprinted) By Kevin Wheatley Click here to view the full article As top administration and legislative officials continue crafting their pension reform proposal behind closed doors, groups like the Kentucky Retired Teachers Association are left wondering how they’ll be affected. Tim Abrams, the incoming executive director of the Kentucky Retired TeachersRead More…

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A Moral Obligation – Kentucky Pension Reform

It is better that you should not vow than that you should vow and not pay. – Ecclesiastes 5:5 Meet some of our Retired Teachers in Kentucky and hear what they have to say about our current pension issues. From 2007-2016 Frankfort stopped making its requested contribution to the Teacher’s Retirement System in Kentucky.  ARead More…

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Kentucky’s Retired Teachers Launch Grassroots Campaign to Protect Financial Security

New Web Site, Outreach to Policymakers Will Convey Retired Teachers’ Opposition to Pension Reform Proposal October 2, 2017 LOUISVILLE – The Kentucky Retired Teachers Association (KRTA) has launched a statewide grassroots campaign to protect the earned retirement security of thousands of retirees who served a career educating children. The campaign will advocate for fairness andRead More…

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Teachers Paid for Their Pensions; Kentucky Failed to Do the Same

9/28/2017 – The Advocate-Messenger (reprinted) By Tim Abrams Click here to view the full article Ky. Retired Teachers Association Bob Martin’s Sept. 21 column, “Kentucky’s pension problem stems from defined benefits system,” is poorly researched and obviously failed to examine the fiscal history and performance of our pension systems. Mr. Martin claims that pension systems,Read More…

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Fire Chief chastises Public Pension Oversight Board for Lack of Funding

Reprinted Article and Video from Spectrum News Pure Politics Gregg Riggs, a retired chief officer with the Frankfort Fire Department chastised legislators for the fact that their pension are better funded than his, and the fact that they get a pension in the first place. “Why is the legislator retirement and the judicial retirement treatedRead More…

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Consultant ideas on Ky. pensions violate law

9/22/2017 – The Herald-Leader (reprinted) Op-Ed By Frederic J. Cowan and W. Gordon Hamlin Jr. Click here to view the full article Kentucky has the strongest public-pension contract protection of any state in the country. The legislature long ago created the “inviolable contract” for all the major plans, and the Kentucky and U.S. Constitutions prohibitRead More…

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Dorsey Ridley: Kentucky’s public pension faces very real challenges not met by switching to 401Ks

9/18/2017 – Northern Kentucky Tribune (reprinted) By Dorsey Ridley Click here to view the full article While I appreciate the Governor’s efforts to address Kentucky’s pension challenges, I fear the proposals would only enhance our problems further. Kentucky’s public pensions face very real challenges, but imploding the pension systems that provide benefits promised, and legallyRead More…

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Panic? Dissension? Look in mirror on pensions, taxes, Governor Bevin

9/15/2017 – Lexington Herald Leader (reprinted) Editorial Click here to view the full article It is not at all clear that Gov. Matt Bevin has a sense of irony; but if he does, he certainly put it to work in one of his recent Facebook videos. Taking on again one of his favorite targets, theRead More…

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Local governments, schools, would be hit hard by pension hike

9/12/2017 – Bowling Green Daily News (reprinted) By Wes Swietek Click here to view the full article A substantial proposed increase in mandated employer funding to shore up the state retirement system could have a large impact locally. The increase and other cuts already have Warren County Public Schools looking at a potential tax increase.Read More…

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Small Tax Breaks’ Costs Add Up Over Time

9/8/2017 – Kentucky Center for Economic Policy (reprinted) By Pam Thomas Click here to view the full article Cleaning up expensive tax breaks is essential if we are going to invest in a stronger Kentucky and restore funding to our pension systems. The biennial Tax Expenditure Analysis (i.e. tax break analysis) published by the Office of StateRead More…

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Retired teachers’ past pension increases unlikely to be targeted, union leaders believe

8/31/2017 – Courier Journal (reprinted) By Tom Loftus Click here to view the full article Louisville Metro Police spokesman Dwight Mitchell updates the media on the shooting at 3500 block of Kerry Drive in Bashford Manor on Monday, Sept. 18.Thomas Novelly/The Courier-Journal/USA TODAY Network FRANKFORT, Ky. — Leaders of Kentucky’s teacher unions are not expectingRead More…

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Hey Kentucky: Matt weighs in on Kentucky’s pension crisis

8/29/2017 – Kentucky Sports Radio (reprinted) By Matt Jones Click here to view the full article On Tuesday night’s Hey Kentucky!, Matt Jones took an in-depth look at the pension crisis in Kentucky, and the controversial proposal by a group hired by Governor Bevin to solve the issue.

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Poll finds support among Kentuckians for pensions; 86 percent say all workers should have access

8/25/2017 – Northern Kentucky Tribune (reprinted) Click here to view the full article   Eighty-six percent of Kentuckians say that all workers, not just those in the public sector, should have a pension plan according to new polling results released today by the National Institute on Retirement Security. These findings are consistent with national polling conducted earlierRead More…

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Koch Network ‘Piggy Banks’ Closed Until Republicans Pass Health and Tax Reform

6/26/2017 – The Guardian (reprinted) By Associated Press Colorado Springs Click here to view the full article Koch officials said that the network’s midterm budget for policy and politics is between $300m and $400m, but donors are demanding legislative progress. At a weekend donor retreat attended by at least 18 elected officials, the Koch brothersRead More…

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Don’t cut our pensions amid crisis, public workers tell Kentucky board

6/26/2017 – Courier-Journal (reprinted) By Tom Loftus Click here to view the full article The General Assembly’s Public Pension Oversight Board gave groups representing public employees and retirees the chance to weigh-in on pension reform Monday. And those groups, as well as a few other organizations, took full advantage of the opportunity. The board opened itsRead More…

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