News

Weekly Legislative Update for 3-14-24

Greetings KRTA Family: Today is day 51 of the 60 day session, only 9 days remain for the 2024 General Assembly.  Those 9 remaining days are currently scheduled as March 15, 21, 22,  25,26, 27, and 28 with the last two days occurring on April 12 and 15 when they will adjourn for the year. […]

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Weekly Legislative Update 2-26-24

Greetings KRTA Family: The last day to file new bills for the Kentucky House of Representatives is today, February 26th, while the deadline in the Kentucky Senate is this Thursday, February 28th.   We anticipate this week will be extremely chaotic as members seek to get their bills submitted before the deadlines. As mentioned in previous […]

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TRS Benefits are Better at Lower Costs than Social Security Plus Other Plan

By Gary Harbin Reprinted from February 24, 2024 TRS Newsletter. With some frequency, I hear concerns about Kentucky’s teachers and Social Security that I want to address because some common perceptions aren’t reality. For teachers as individuals, the value of the TRS retirement benefit in almost all cases outweighs any reductions on Social Security benefits […]

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Weekly Update – 2-12-24

Greetings KRTA Family: Another legislative week is in the history books and KRTA staff, lobbyists, and legislative volunteers remain optimistic that we will achieve all of our legislative priorities this session.  Full funding of Teachers’ Retirement System (TRS) and the TRS Medical Insurance Fund appears likely.  Two of our biggest priorities – full funding of […]

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Weekly Update – February 5, 2024

Greetings KRTA Family: KRTA staff, lobbyists, and legislative volunteers continue to work diligently in Frankfort during the Kentucky General Assembly to ensure that all of our legislative priorities are met. Two of our biggest priorities — full funding of the Teachers’ Retirement System (TRS) and the TRS Medical Insurance Fund — appear to be heading […]

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Weekly Update – January 29, 2024

Greetings KRTA Family: As the 2024 Kentucky General Assembly continues to progress, KRTA staff, lobbyists, and legislative volunteers remain committed to making sure all of our legislative priorities are met.  We continue to follow closely three bills which contains two of our five legislative priorities – fully funding of our pension system and medical insurance […]

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2024 Kentucky Legislative Session: All Bills Associated with Education with Summary

HB1: Appropriations for Government (Petrie, Jason) AN ACT relating to government agencies, making an appropriation therefor, and declaring an emergency. We are review this bill and will provide detailed information on education appropriations in the coming days. Appropriate General Fund moneys from the Budget Reserve Trust Fund Account in fiscal years 2023-2024, 2024-2025, and 2025-2026 […]

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Legislative Update for February 27, 2023

The 2023 Session of the Kentucky General Assembly passed the halfway mark this week. 286 bills have been filed in the State Senate while 594 bills have been filed in the State House of Representatives.  The new bills filed this week include many “shell” bills that could morph into anything during the final days of […]

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TRS STATEMENT ON SBERBANK INVESTMENT

Dear KRTA Members: There is misleading information circulating around social media concerning TRS investments in the Russian Bank Sberbank.  Please see the following statement issued by TRS.   MARCH 4, 2022 FRANKFORT, Ky. – Social media statements about the Teachers’ Retirement System of the State of Kentucky (TRS) being the second-largest shareholder in Sberbank are completely […]

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KRTA representatives visit fellow members in Western Kentucky after Tornado

Tim Abrams, Executive Director During our recent visit to Western Kentucky, we were able to meet with several KRTA members who lost their homes to the tornado on December 10.  Each of them shared harrowing stories of surviving the storms and how fortunate they feel to be alive today.     The devastation and need we witnessed […]

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KRTA members step up to help Western Kentucky Tornado Victims

FRANKFORT – The Kentucky Retired Teachers Association (KRTA) and its members have donated $53,000 to the people and communities impacted by the devastating tornadoes that cut a destructive path through Western Kentucky on Dec. 10. A $36,000 check to the Team Western Kentucky Tornado Relief Fund was recently presented to Lt. Gov. Jacqueline Coleman by […]

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Legislative Priorities and Week One Update – January 11, 2022

Legislative Update – January 11, 2022 The video posted above illustrates our 2022 legislative priorities as well as information that you will need to stay actively engaged during the 2022 legislative session.  I encourage everyone to watch this video. The 2022 General Assembly completed its 7th day of the 60-day session today.  The General Assembly […]

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Don’t use Kentucky Teachers’ Retirement System Study for Political Points

OP-ED by William Kelley, KRTA President published in the Lexington Herald-Leader. Over the years, we have heard a lot of rhetoric from some lawmakers about the affordability and sustainability of the Kentucky Teachers’ Retirement System (TRS). I’m guessing we’ll probably hear a lot more political rhetoric after a new experience study, commissioned by TRS, adjusted […]

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An Interview with Gary Harbin, Executive Secretary of TRS on newly release experience study.

We sat down with Gary Harbin, Executive Secretary from TRS to discuss the recently released actuary experience study and board recommendations.

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Another Broken Promise? TRS Medical Insurance Statutory Funding in Jeopardy

Call 1-800-372-7181 or visit www.teachfrankfort.org and send an email to your elected officials asking them to:   Restore full STATUTORY funding to the TRS Medical Insurance Fund as promised by the 2010 Shared Responsibility Law.  Once again, Frankfort Politicians are trying to break their promise to Kentucky’s Retired Teachers. HB192 – the House Budget Bill – […]

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KY Legislative Action Alert

  Call your elected official at 1-800-372-7181 or simply click the Contact Your Elected Officials button.  Tell your elected officials to fully fund the statutory obligation to the TRS Medical Insurance fund.   As you know, we have been carefully tracking the House Budget Bill (HB192 / HCS1) to make sure our legislative priorities are […]

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Pension Spending Supports $1.3 Trillion in Output, 6.9 Million Jobs, $192 Billion in Tax Revenue Across US Economy

Published by the National Institute On Retirement Security (NIRS) Click here to read Pension Impact on Kentucky’s Economy WASHINGTON, D.C., January 6, 2021 – A new report finds that economic gains attributable to private and public sector defined benefit (DB) pensions in the U.S. are substantial. Retiree spending of pension benefits in 2018 generated $1.3 trillion […]

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Kentucky’s Retired Teachers Release 2021 KY General Assembly Legislative Priorities

LOUISVILLE – The Kentucky Retired Teachers Association (KRTA) has released its legislative priorities for the 2021 Kentucky General Assembly regular session that begins the first week of January. “Our priorities have not changed from last year,” said KRTA Executive Director Tim Abrams. “Because of the COVID-19 pandemic possibly restricting access to the State Capitol and […]

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Tips for Advocating During a Pandemic

As you know, the 2021 legislative session is going to most likely be much different than in past years.  COVID-19 concerns could keep the Capitol and Capitol Annex closed off to the general public including our government relations representatives.  We must be adapt and let our elected officials know that Kentucky’s Retired Teachers matter.  With […]

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KRTA announces its 2021 legislative priorities

The Kentucky Retired Teachers Association announced its 2021 legislative priorities for the upcoming session starting in January.   Please watch this short video from Tim Abrams, Executive Director of the KRTA, to hear our priorities and a brief explanation. Simply by clicking each link below, you’ll be able to educate yourself about each priority. 2021 Legislative […]

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Know All Your Options To Vote Safely

It is critical that you understand all of your voting options.  Visit www.govoteky.com and www.aarp.org/kyvotes to learn all of your voting options. Deadline to Register:        Monday, October 5th Deadline to Request Absentee / Ballot by Mail:     Friday, October 9th Early Voting Begins:       Tuesday, October 13th General Election:      […]

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2020 KRTA Q&A with Candidates for State Senate

Senate District 7 – Open Seat Joe Graviss (D)   Adrienne Southworth (R)   State Senate District 11 John Schickel (R) Incumbent   Jim Fiorelli (D) Challenger   State Senate District 17 Damon Thayer (R) Incumbent   Jason Stroude (D) Challenger   State Senate District 23 Ryan Olexia (D) Challenger   Chris McDaniel (R) Incumbent […]

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2020 KRTA Legislative Q&A Videos – House of Representatives

  House District 8 Pam Dossett (D) Candidate Walker Thomas (R) Incumbent No Video Submitted. House District 11   Rob Wiederstein (D) Incumbent   Jonathan Dixon (R) Challenger No Video Submitted   House District 12   Jim Gooch (R) Incumbent     Art McLaughlin (D) Challenger No Video Submitted   House District 63   Kim […]

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Case Study Examines How Dismantling Pensions Triggered Mass Exodus of Public Safety Workers

National Institute on Retirement Security – 2/8/2018 (reprinted) Click here to view the full article Palm Beach Town Council Reinstated Pension Plan After Unsuccessful and Costly Shift to 401(k) Accounts   WASHINGTON, D.C., February 8, 2018 – A new case study examines the impacts of the 2012 actions of the Town of Palm Beach to close its […]

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Public Pension Oversight Board Agenda 2-27-23

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Bills introduced during 2023 KY General Assembly

Bill # Sponsor Description Comments HB 1 Reed Reduction in KY Income Tax Rate: ·      Reduces the individual income tax to 4.5% for taxable years beginning January 1, 2023, and to 4% for taxable years beginning January 1, 2024. ·      Passed out of House 79-19 on 1/5/23   HB13 King Bus Driver CDL Physical Exam […]

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Kentucky Legislative Update 2-10-23

Greetings KRTA Members: Part II of the 2023 General Assembly kicked off this week as expected with many bills being filed. Beau Barnes, Deputy Secretary of Operations and General Counsel for TRS, testified before two committees this week.  On Tuesday, he testified before the House Education Committee on the number of retirees in 2022.  The […]

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Make no changes to the structure of the TRS Board of Trustees

TRS is accountable to its members Since TRS is independently managed, the fiduciary responsibility of the retirement system remains exclusively accountable to the system’s members. TRS is administered by an 11-member Board of Trustees, of which a seven are elected by TRS members. The Kentucky Education Commissioner and State Treasurer serve as board members, and […]

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KRTA 2020 Webinar Replay

 

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Update From the End of Session

Greetings KRTA Members: I hope you and your loved ones are staying safe during these unprecedented times. The 2020 legislative session wrapped up this week with the General Assembly overriding all of Gov. Andy Beshear’s line-item vetoes, which resulted in the passing of a one-year budget (HB352). Coming into this legislative session, KRTA’s four main […]

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Official Statement on Vetoes by Gov. Andy Beshear

The budget passed by the General Assembly provides the actuarially required contribution to the Teachers’ Retirement System (TRS) and fully funds the medical insurance fund. However, the ‘fine print’ requires contributing lower amounts to the Teachers’ Retirement System to deal with the expected shortfall in state revenue. It also requires that any monies above the […]

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Beshear vetoes parts of budget bills, saying he needs flexibility to deal with COVID-19

Lexington Herald Leader – 4/13/2020 (reprinted) By Jack Brammer Click here to view the full article Kentucky Gov. Andy Beshear vetoed parts of budget bills Monday, saying he wanted to ensure that he has the flexibility to continue Kentucky’s response to the coronavirus pandemic. His vetoes came a day before lawmakers are to return to […]

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New Update on Conference Committee and Health Insurance Funding 3-31-20

Greetings KRTA Members: I hope all of you and your loved ones are staying safe during these unprecedented times. The Budget Conference committee is scheduled to meet later this afternoon to finalize the budget. As you know, the Senate Budget including no funding to the TRS Health Insurance Fund over the next two years despite […]

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Update on Conference Committee, Pension and Health Insurance Funding

Dear KRTA Members, First, I hope this finds you safe and well during these trying times. I thank those of you who have been reaching out to our membership base for wellness checks and to offer support. It is moments like these that I’m proudest to work with this caring group of retired educators. I […]

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Taking $1.13 billion from teacher pensions a ‘very serious problem,’ official warns

Lexington Herald Leader – 3/23/2020 (reprinted) By John Cheves Click here to view the full article A possible $1.13 billion cut in state funding for Kentucky teacher pensions — as Republican state senators propose in their two-year budget plan — would create “a very serious problem” for the $20.4 billion pension fund, one official said Monday. “If […]

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Official Statement on Funding for TRS

During a national crisis, when thousands of current and retired teachers are assisting their communities, the Kentucky Senate has passed a budget designed extort current and retired teachers by threatening to withhold $1.1 billion in actuarially required funding to the Teachers’ Retirement System (TRS) unless the General Assembly enacts pension reform by August 1, 2020. […]

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**Action Alert** Medical Insurance Funding in Jeopardy

The proposal by the Kentucky Senate to hold Teacher Retirement System (TRS) funds hostage in exchange for pension benefit cuts for new teachers is bad public policy for educators and the taxpayers. During this national crisis, the Kentucky Senate budget presents a last minute deal to extort current and retired teachers into accepting a last […]

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**ACTION ALERT** Senate Budget Issues 3-19-20

The budget proposed by the Kentucky Senate completely ignores the state’s fiscal obligation to Kentucky Teachers Retirement System and the TRS Medical Insurance Fund During these unprecedented times, I want to extend my thoughts and prayers to all of you and your families. We teachers are tough bunch, and I’m confident we will get through […]

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Action Alert: Healthcare Funding

Please Call and Urge Your Legislators Not to Gamble with Healthcare Funding Greetings KRTA Members, The Kentucky General Assembly is scheduled to return to session next Tuesday. Of course, in light of events, that is subject to change. The budget proposed by the House only includes one-year of funding for the Medical Insurance Fund. The […]

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Coronavirus Update

Dear KRTA Members, In an attempt to be proactive regarding the coronavirus threat, it might be prudent if you avoid gatherings of people for a while. We are in uncharted territory regarding this coronavirus situation. Each day we are seeing more and more cases across the commonwealth. Our membership is at the highest risk for […]

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New Pension Bill Filed by Rep. Jerry Miller – HB576

New Bill Filed by Rep. Jerry Miller – HB576 Late last night, Rep. Jerry Miller filed House Bill 576 (HB 576) a pension reform bill. We are currently reviewing the bill in detail to understand both the intended and unintended consequences of the legislation. From our conversations with Rep. Miller, it is modeled after HB504, […]

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New Budget Includes Provisions for Retired Teachers, Contact Your Legislator and Encourage Them to Support

Last night, Kentucky Gov. Andy Beshear unveiled his budget to the General Assembly. This is the first step in a long and arduous process that is required to finalize and approve a budget for our government over the next two fiscal years. This proposed budget now goes to the General Assembly, where many details and […]

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In Kentucky’s Pension Fight, Teachers Want to Remind You: They Don’t Get Social Security.

USA Today – 5/20/2018 (reprinted) By Deborah Yetter, Louisville Courier Journal Click here to view the full article   As a young teacher, Lauri Wade didn’t think much about the fact that in Kentucky, public school teachers are not eligible for Social Security benefits upon retirement. “When you’re in your early 20s, you don’t think […]

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In Kentucky and Louisiana, Sheriffs and Teachers Mattered More than Trump

Saporta Report – 11/18/2019 (reprinted) By Tom Baxter Click here to view the full article You can’t blame Donald Trump for everything, or give him all the credit either. Trump’s opponents have trumpeted Democratic victories in the Kentucky and Louisiana governor’s races as a personal defeat for the president because he campaigned for Republicans Matt […]

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How Not to Reform Teacher Pensions

Governing.com – 6/12/2019 (reprinted) By Max Marchitello – Contributor, a senior analyst at Bellwether Education Partners Click here to view the full article West Virginia’s experience offers lessons in what states can do to provide retirement systems that benefit educators and taxpayers alike. Nationally, increases in teachers’ pension and post-retirement health care costs are outpacing growth in […]

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NRTA talks with Tim Abrams

NRTA, AARP via Vimeo – 7/26/2019 (reprinted) Click here to view the full article Tim Abrams talks with the NRTA, which is the AARP’s Educator Community.

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‘Do I even want to continue doing this?’ Lexington’s substitute teacher dilemma

Lexington Herald-Leader – 7/26/2019 (reprinted) By Valarie Honeycutt Spears Click here to view the full article The shortage of substitute teachers in Fayette County has left one of those educators so concerned about the effects on students that she approached school board members at their Oct. 28 meeting. “I have been frustrated,” substitute teacher Kiah […]

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Where are the teachers? Thousands of unfilled teaching jobs threaten education in Kentucky

Lexington Herald-Leader – 7/26/2019 (reprinted) By Valarie Honeycutt Spears Click here to view the full article Ryan Brown taught high school in Rowan and Montgomery County for three years before he left the teaching profession in May because he thought the current climate “was very troublesome.” While Brown had school administrators who offered as much […]

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Kentucky’s state pension fund might have hit bottom. Now the repair job gets harder.

Lexington Herald-Leader – 11/14/2019 (reprinted) By John Cheves Click here to view the full article Nurses of the Garrard County Health Center voice concern about keeping their pensions in light of a new pension law that provided incentives for quasi-governmental entities to exist the state pension system. BY MARCUS DORSEY Gov. Matt Bevin and the General Assembly […]

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Tim Abrams, KRTA Executive Director on Bill Cunningham 700WLW

On November 7 Tim Abrams joined The Bill Cunningham Show, which airs weekdays 12p-3p on Cincinnati’s News Radio 700WLW The discussion covers reaction to the Kentucky Governor’s race, the general state of pension reform talks, and the shortage of teachers throughout Kentucky among other things. Tim’s segment runs about for about 17 minutes at the […]

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Frustration in the Schools

PDK Poll – 08/05/2019 (reprinted) Click here to view the full article Broad discontent leads half of teachers to consider quitting their jobs. Download the complete 2019 PDK poll report Frustrated by poor pay and underfunded schools, half of public school teachers nationally have seriously considered leaving the profession in the past few years — […]

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Lawrence County, Ky., Prepares for Start of School as it Faces Teacher Shortage

WAVE3 News – 08/02/2019 (reprinted) By Gil McClanahan Click here to view the full article LAWRENCE COUNTY, Ky. (WCHS/WVAH) — Summer vacation is quickly coming to an end for some Kentucky students. Wednesday the school year begins in several districts, including Lawrence County. On Tuesday morning, teachers and staff had a pep rally because Wednesday […]

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Moody’s: Results of Kentucky Special Session ‘Credit Negative’

WAVE3 News – 08/02/2019 (reprinted) By David Nichols Click here to view the full article LOUISVILLE, Ky. (WAVE) – The credit rating agency Moody’s has released its thoughts on a new law crafted by Kentucky Gov. Matt Bevin and passed by the General Assembly in a special session last month. A Sector Comment published by […]

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Kentucky Faces Teacher Shortage as Kids Head Back to School

LEX18 News – 08/07/2019 (reprinted) By David Nichols Click here to view the full article LEXINGTON, Ky. (LEX 18) — With students heading back to classrooms across the state, Kentucky is facing a major teacher shortage. In fact, Kentucky education officials say more than 2,000 positions remain unfilled. Officials are working to address the shortage […]

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The Dangerous Consequence Of Cutting Public Safety Pensions

Forbes – 10/30/2018 (reprinted) By Diane Oakley Click here to view the full article Management consulting firm McKinsey reports that organizations that appear on “best places to work” lists often make the cut because their business strategy is premised on a long-term relationship with their employees. McKinsey credits companies for both the large and small signals sent […]

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Public Pension Relief Passed in Special Session

Lane Report – 07/24/2019 (reprinted) Click here to view the full article FRANKFORT, Ky. — Five options for over 100 quasi-governmental agencies in Kentucky to get a handle on their rising pension costs have passed the Kentucky General Assembly in a five-day special session. The options found in House Bill 1 would allow the state’s […]

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Kentucky Special Session to Discuss Pension System Begins Friday

WYMT Mountain News – 07/18/2019 (reprinted) by The Associated Press Click here to view the full article FRANKFORT, Ky. (AP/WKYT) – Governor Matt Bevin has formally set the agenda for a special legislative session that begins Friday. The lone issue in his proclamation on Thursday is pension relief for regional universities and quasi-governmental agencies strapped […]

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Palm Beach speeds up work to stop exodus of police, firefighters

Palm Beach Daily News – 02/01/2019 (reprinted) by William Kelly Click here to view the full article The town is fast-tracking efforts to stop an exodus of police and firefighters leaving for other agencies that offer better pay and benefits. A consultant’s study, comparing compensation of town employees to the local market, is weeks away from completion. That’s […]

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Judge rules Bevin wrongly withheld analysis of original pension proposal

Courier Journal – 05/09/2019 (reprinted) by Tom Loftus Click here to view the full article   FRANKFORT — The Bevin administration illegally withheld from public release an actuarial analysis of the governor’s original “Keeping the Promise” plan to reform Kentucky’s troubled pension system, Franklin Circuit Judge Phillip Shepherd ruled Thursday. Moreover, Shepherd, who was able […]

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Retirement Insecurity 2019: Americans’ Views of the Retirement Crisis

National Institute on Retirement Security – March 2019 (excerpts reprinted) by Diane Oakley and Kelly Kenneally Click here to view the full article Executive Summary Changes to the U.S. retirement system during the past several decades have put retirement in peril for most working Americans. When all working individuals are considered, the typical American has […]

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Why 401(k)s Have Failed

Forbes – 04/24/2013 (reprinted) by John Wasik Click here to view the full article Last night’s “Frontline” show on PBS did Americans a great service. It showed the folly of the 401(k) structure, which has been a problem for decades. Unfortunately, while Frontlne’s Martin Smith and his many great guests focused on costs (too high), […]

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

NEA Today – 03/23/12 (reprinted) by Cindy Long Click here to view the full article Pensions provide secure – and higher — retirement benefits. 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 […]

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The Recession Hurt Americans’ Retirement Accounts More Than Anybody Knew

The Atlantic – 10/16/2015 (reprinted) by Teresa Ghilarducci Click here to view the full article Most people think IRAs and 401(k)s have pretty much recovered from deep losses in 2008. They haven’t. The morbid joke about the Great Recession was that it turned Americans’ 401(k)s into 201(k)s. Indeed, the nation’s 401(k)s and IRAs lost about […]

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Legislative Update 3/15/19, Look Ahead

As the 2019 General Assembly winds down, we hope a new day of collaboration is ahead. I know that by working collaboratively, retired teachers, legislators and other education groups can accomplish great things. Collaboration has worked well in the past, and I am confident it will work well in the future to help protect the […]

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Legislative Update 3/8/2019

In the waning days of the 2019 General Assembly, Kentucky’s retired teachers once again showed great resolve throughout the week advocating for their financial security, as well as the financial security of future retired teachers in the state. Your calls and emails in recent days have made a BIG difference in moving HB 58 and […]

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All Eyes On Frankfort As HB 525 Vote Looms

Lex18 – 3/04/2019 (reprinted) By Melissa Ratliff Click here to view the full article FRANKFORT, Ky. (LEX 18 )- Teachers filled the annex at the State Capitol Monday evening in anticipation of the state house voting on HB 525, a bill which would change the general administration and management of the Teachers Retirement System Board […]

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Supporters Asked to Urge Their Legislators to Vote “NO” on HB 525 Ahead of Monday, March 4 Vote

KRTA members and supporters are asked to call and leave one of the following two messages, or both, Monday morning. House Bill 525 was passed out of committee and is due for consideration in the House on Monday afternoon. Members are also encouraged to attend the vote on Monday in Frankfort to voice their opposition. […]

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HB 525 Could Change Structure Of TRS Board Of Trustees

Lex18 – 2/27/2019 (reprinted) By Melissa Ratliff Click here to view the full article FRANKFORT, Ky. (LEX 18)- A House Bill could change the structure of the Teachers’ Retirement System Board of Trustees. HB 525 was filed by Republican Representative Ken Upchurch of the 52nd district. The bill seeks to change the general administration and […]

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HB 58 Introduced, Members Asked to Support

HB 58 was recently introduced in the General Assembly. This bill is designed to raise the state-tax exclusion for pension income from $31,110 to $41,110 and retroactively apply to this exclusion to the 2018 tax year. This bill also would require the Kentucky Department of Revenue to automatically issue any applicable refunds. If you recall, […]

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Pension Bill’s Sponsor Hopes Support from Kentucky Teachers Builds Momentum

WDRB – 2/21/2019 (reprinted) By Kevin Wheatley Click here to view the full article and video coverage FRANKFORT, Ky. (WDRB) – A sponsor of a pension bill that would alter benefits for future teachers while keeping them in a defined-benefit retirement plan said Thursday that he believes support from educators will be pivotal for the […]

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Public Pension Working Group in KY Suspends Meetings Until After Legislative Session Ends

WCHS News – 2/18/2019 (reprinted) By Gil McClanahan Click here to view the full article The Public Pension Working Group made up of Kentucky lawmakers have suspended their meetings until after General Assembly session ends. (COURTESY: KY Educational Television) FRANKFORT, Ky (WCHS/WVAH) — The Public Pension Working Group, the bi-partisan group of Kentucky lawmakers charged […]

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Pension Update 2/11

The second part of the 2019 legislative session began on Feb. 2 and the first week of the session ended on Friday afternoon. Just like every year, legislators have filed hundreds of bills that both houses will consider. KRTA will continue to focus on our core mission as an organization, which is to look out […]

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KEA, Other Education Associations Testify for Pension Working Group

Spectrum News – 1/24/2019 (reprinted) By Michon Lindstrom Click here to view the full article FRANKFORT- It was the educators turn to testify in front of the Public Pension Working Group. The five organizations had a chance to give their recommendations on how to help fix Kentucky’s troubled pension systems. Kentucky Education Association, Kentucky Retired […]

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Public Pensions Working Group

The 2019 General Assembly has kicked off and KRTA staff and volunteers were in Frankfort early last week meeting with newly elected legislators, legislative leadership, and veteran legislators. Late Friday afternoon Senate President Robert Stivers and House Speaker David Osborne announced a panel to “conduct a review of the pension systems’ structures, costs, benefits and […]

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Pensionomics 2018: Measuring the Economic Impact of Defined Benefit Pension Expenditures

National Institute on Retirement Security – January 2019 (reprinted) By Ilana Boivie Click here to view the full article Click to Download Report Download State Fact Sheets Read Press Release Watch Webinar Download PowerPoint Report Details Economic gains attributable to defined benefit (DB) pensions in the U.S. are substantial. Retiree spending of pension benefits in […]

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New Pension Panel Formed by Kentucky Legislature

The 2019 General Assembly has kicked off and KRTA staff and volunteers were in Frankfort early last week meeting with newly elected legislators, legislative leadership, and veteran legislators. Late Friday afternoon Senate President Robert Stivers and House Speaker David Osborne announced a panel to “conduct a review of the pension systems’ structures, costs, benefits and […]

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Kentucky Legislature Forms Bipartisan Pension Working Group

WPSD Local 6 – 1/11/2019 (reprinted) By Associated Press Click here to view the full article FRANKFORT, Ky. (AP) — After a tumultuous year of failed attempts to change one of the country’s worst-funded public pension systems, Kentucky’s Republican-controlled legislature is hitting the reset button. Lawmakers on Friday announced a bipartisan “pension working group” to […]

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Restart Pension Debate with Openness, Respect

Herald Leader – 4/9/2018 (reprinted) OpEd By Shirley Wolf, KRTA President Click here to view the full article The Kentucky Supreme Court recently ruled that Senate Bill 151 — the wastewater/pension bill adopted by the General Assembly during the last legislative session — was unconstitutional. This decision should not be construed as a victory for […]

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Ky Supreme Court Unanimously Overturns SB 151 – Statement From KRTA Executive Director

The Kentucky Supreme Court’s decision today to overturn Senate Bill 151 provides the citizens of our state with a unique opportunity to put aside partisan rhetoric and come together to craft a legislative solution to our current pension issues, one that insures dignified retirement for the thousands of our retired school teachers and those who […]

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Teachers’ Retirement System Fact Sheet

To download full file click here: PDF  |  Word Doc The Kentucky Teacher’s Retirement System (TRS) is independent from the Kentucky Retirement System (KRS) and the other state retirement systems. TRS is not associated with Kentucky’s other retirement systems. TRS has its own investment and administrative management structure and an independent board of directors. Many […]

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Participate in AARP’s Kentucky Town Hall with Kentucky Educators on October 29th @ 7:20pm.

In an effort to keep our membership informed, we encourage you to participate in AARP’s Town Hall via telephone. This is a non-partisan informational session. It is as easy as clicking on the link below and filling out the information. Critical issues are on the line in the midterm elections. State pensions, family caregiving, and […]

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VOTE in November!

VOTE!  The Stakes Couldn’t Be Higher The midterm elections are just a few days away, and the votes of retired teachers couldn’t be more important. The pension reform bill passed by the state legislature this year is before the Kentucky Supreme Court, and that means we could see another pension battle in 2019. And retiree […]

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2018 Election Guide: 10 Questions to Ask Candidates for State Office

While the Kentucky Retired Teachers Association (KTRA) does not specifically endorse candidates, we do take legislative positions designed to protect the interests of our current and future members. We offer our members a list of 10 questions to ask candidates for state to determine if these candidates are aligned with the interests of KRTA and […]

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Podcast: Professor Christian Weller on the Importance of Pensions for Both Teachers & School Districts

Listen to the audio here:     Read the full transcript of the interview below: Pat Crowley:  Hello, I am Patrick Crowley with the Kentucky Retired Teachers Association. Today we are joined by Christian Weller. He’s a professor of public policy at the McCormick Graduate School of Policy and Global Solutions at The University of […]

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A Message from Tim Abrams, Executive Director on Recent Court Decision on Pension Reform

Dear KRTA Members: Hope you are having a wonderful summer with your families and loved ones. If you haven’t already heard, the Sewer Bill which was stripped and replaced with pension reform at the end of the 2018 legislative session was deemed unconstitutional by Franklin Circuit Court Judge Phillip Shepherd. In his 34-page ruling, Judge […]

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KRTA Express June 2018

KRTA- Express June 2018

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KRTA Express May 2018

KRTA- Express May 2018

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Podcast: Dr. Rhee on Her Report “Most Kentucky Teachers are Significantly Better Off with Pensions than 401k’s”

Listen to the audio here:   Nari Rhee, Ph.D., is Director of the Retirement Security Program at the UC Berkeley Center for Labor Research and Education. Her current research focuses on the retirement crisis facing California and the US in the context of declining pension coverage, and policies to improve the retirement income prospects of […]

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New Analysis Suggests Public Pension Cuts Hurt State and Local Governments’ Ability to Recruit Workers

PR Newswire – 4/11/2018 (reprinted) By Center for State and Local Government Excellence Click here to view the full article A new research brief that explores the impacts of public pension reform from 2005 to 2014 suggests that cuts to pension benefits have reduced the ability of public sector employers to compete with private sector […]

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Saying ‘the money’s not there,’ Gov. Matt Bevin vetoes tax and budget bills

Courier Journal – 4/9/2018 (reprinted) By Tom Loftus and Morgan Watkins Click here to view the full article FRANKFORT, Ky. — Gov. Matt Bevin on Monday vetoed both the state budget bill and the tax bill that his fellow Republicans in control of the Kentucky House and Senate passed a week ago. “The budget has […]

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Gov. Bevin Announces He Will Veto Entire Budget and Tax Reform Bill

Gov. Bevin’s veto of House Bill 200 and Senate Bill 366 are a setback to public education in Kentucky. While these bills are far from perfect, it fully funds TRS the next two years and addresses important KRTA legislative priorities, including allocating $59.5 million in Fiscal Year 2019 from the general fund to cover the […]

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Update Concerning Recent Pension Legislation

  Statement from Tim Abrams, Executive Director of KRTA We hope you and your families had a wonderful Easter weekend. We have received many calls asking about the impact of the legislation that was recently passed. As you know, much of this legislation was thrust upon us at the last minute, so it took us […]

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Statement Concerning Passing of Senate Bill 151

We are still in process of analyzing the 291-page pension-reform amendment that yesterday was unexpectedly tacked-on to a sewage wastewater bill, which was passed by both chambers of the General Assembly late last night. Based on our initial review of the bill, it retains cost-of-living adjustments for all current and future retired teachers. Our biggest […]

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Kentucky Lawmakers Resurrect Pension Bill

US News & World Report – 3/29/2018 (reprinted) By Associated Press Click here to view the full article Republican lawmakers in Kentucky have resurrected a bill to overhaul one of the nation’s worst-funded pension systems. Republican lawmakers in Kentucky have resurrected a bill to overhaul one of the nation’s worst-funded pension systems. The 291-page proposal […]

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Surprise Kentucky Pensions Bill Wins Speedy Approval in Legislature

Herald Leader – 3/29/2019 (reprinted) By By Daniel Sesrochers, John Cheves and Jack Brammer Click here to view the full article Republicans uncorked a surprise 291-page proposal Thursday afternoon to overhaul Kentucky’s ailing public pension systems and gave it final approval hours later as the chants of angry teachers echoed through the Capitol late into […]

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Your Advocacy is Needed

We are in the final days. Your calls, emails, and contacts with your legislators have never been so important as we enter the final days of the 2018 General Assembly. Since the House and Senate budget are quite different, a conference committee has been formed to iron out the final budget. Please call your legislator […]

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Bevin accuses some pension bill opponents of displaying ‘thug mentality’

Hearld Leader – 3/21/2018 (reprinted) By Daniel Desrochers Click here to view the full article People who oppose a bill to overhaul Kentucky’s ailing pension systems are trying to destroy the state, Gov. Matt Bevin said Tuesday. “Right now, they’re only hearing from the angry people who want to destroy what’s good for this state,” […]

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America Has A Retirement Crisis

The Hill – 3/21/2018 (reprinted) By Deborah Murrell, Opinion Contributor Click here to view the full article I know all eyes are on Washington these days, watching to see what the Trump administration and Congress will do next. But retired teachers in Kentucky, and in other states across the country, are focused a little closer […]

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Matt Bevin, it’s appalling how much these ‘selfish’ Kentucky teachers give their kids

Courier-Journal – 3/16/2018 (reprinted) By Joseph Gerth, Opinion Columnist Click here to view the full article I got to thinking about what Gov. Matt Bevin said on Wednesday about all the “selfish” teachers in Kentucky public schools. You know the ones he’s talking about. The ones who are so self-centered that they don’t want to […]

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Legislative Update 3-16-18

The advocacy of retired teachers is inspiring and making a difference for a better Kentucky and stronger public schools. Keep visiting Frankfort and keep the legislative message line ringing during the remaining days of the 2018 General Assembly It is anticipated the Senate version of the budget will be released early next week. It is […]

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Dark Money Political Organizations Making RoboCalls in Kentucky

Out-of-state, politically motivated “dark money” groups are now funding robocalls in Kentucky that tell citizens that they will face higher taxes if they do not support Senate Bill 1, the pension-reform bill. “dark money” groups receive unlimited donations from corporations, individuals, and others to influence elections and legislation, but they are not required to disclose […]

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Group that backs Bevin making automated calls pushing pension bill in GOP districts

Herald-Leader – 3/15/2018 (reprinted) By Jack Brammer Click here to view the full article Kentucky Senate Republicans opposed to a controversial public pension overhaul bill are being targeted by a national conservative group that says it is “proud” to stand with Gov. Matt Bevin in support of the bill. FreedomWorks, based in Washington, D.C., this […]

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Broken promise puts us on dangerous ground

Kentucky Today – 3/08/2018 (reprinted) By Mark Wohlander Click here to view the full article At the risk of offending the proponents of pension reform to the Kentucky Teachers’ Retirement System, let me share a quote from George Washington about the importance of education. In December of 1784, Washington wrote, “[t]he best means of forming […]

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A Pension “Reform” Story: First We Need Gas

By: Allen J. Schuler, KRTA legislative volunteer So, your car stops running. You have it towed to the nearest service station where the mechanic insists he must remove and rebuild the engine. You HAVE to have an operating car in order to get to work. At great expense—to you—the engine is overhauled and reinstalled, yet […]

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Let’s Finish Strong – 13 Days remain in the 2018 General Assembly

By Tim Abrams, Executive Director of Kentucky Retired Teachers Association We are in the home stretch, so keep the pressure on and finish strong! Your voice is working!!!! Our momentum is tremendous, don’t slow up!!!! Even though we don’t have millions of dollars in “Dark Money” we have our voices and we have the best […]

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Legislative Update on Pensions from KRTA Executive Director

Kentuckians love basketball and we love March Madness. This year March Madness arrived a day early in Frankfort. On Wednesday, February 28 KRTA members filled committee rooms and the hallways of the Capitol Annex. Reporters who have covered the General Assembly for over 30 years said they have never seen a crowd like that for a committee meeting.  […]

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New Analysis Released Concerning SB1

Pension Trustee Advisors (PTA) has conducted a review of the proposed changes to the pension and retiree healthcare benefits for current and future Kentucky public employees under Senate Bill 1 on behalf of the Kentucky Public Pension Coalition. While the recommendations include adequate funding of the retirement systems, the changes to the pension benefits proposed […]

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Retired teachers voice opposition to Kentucky pension overhaul

WCPO Cincinnati – 2/28/2018 (reprinted) By Bruce Schreiner | Associated Press Click here to view the full article FRANKFORT, Ky. (AP) — Retired public school teachers and their allies crammed into a legislative committee hearing in an election-year show of force against a public pension overhaul that Kentucky lawmakers began reviewing Wednesday. A Republican-led Senate […]

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Editorial: The General Assembly “A-TAX” Kentucky Teachers

by Allen J. Schuler, Retired Teacher Finally, the other shoe has dropped. Since October, when the first pension “reform” proposal fell upon pensioners like a meat cleaver, we’ve been waiting for a new proposal. Late Tuesday, February 20, the state legislative leadership cabal that worked in secret for weeks on a new “reform” bill, came […]

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FEB. 28 – Supporters Asked to Attend Hearing Planned for New Pension Bill

Senator Joe Bowen’s office has confirmed that the plan is to hear SB 1 in the Senate’s State and Local Government Committee meeting next Wednesday, February 28 at noon in room 154 of the Capital Annex.  Members of the Senate State Government Committee are as follows: Joe Bowen [Chair] Sen. Stan Humphries [Vice Chair] Sen. […]

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Teachers face big cuts in pension plan that would save state $4.8 billion

Reprinted from the Herald Leader. Click here to view the article. By John Cheves and Daniel Desrochers The newly-filed Senate Bill 1 eventually would eliminate Kentucky’s unfunded public pension liabilities — estimated at $40 billion to $60 billion, depending on whom you ask — while saving the state $4.8 billion, legislative leaders said Wednesday at a Capitol […]

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Statement from Tim Abrams, Executive Director of KRTA, regarding latest pension proposal

  While we applaud Frankfort for recognizing that switching to a defined contribution plan would be disastrous for both retired teachers and Kentucky taxpayers, we still are extremely concerned about certain provisions in SB1 that essentially shore up the pension fund on the backs of our current and retired teachers. This is especially disappointing in […]

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Podcast: Executive Director of National Institute on Retirement Security, Diane Oakley

Listen to the audio here:   The National Institute on Retirement Security is a not for profit organization that does nonpartisan research to address what a quality retirement means for employees, employers and the economy. Diane Oakley, Executive Director at NIRS joins Pat Crowley, a former Kentucky journalist and current representative for the Kentucky Retired […]

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Not just Kentucky: This week, we saw the real agenda behind pension push

Lexington Herald-Leader – 2/14/2018 (reprinted) Editorial by Tom Eblen Click here to view the full article Corporations have spent four decades taking traditional pensions away from most American workers. Now they and their allies want to do the same to school teachers and other public employees. Kentuckians recently got a reminder that efforts to replace […]

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Anti-pension missive does not compute, House Republicans should keep asking smart questions

Lexington Herald-Leader – 2/13/2018 (reprinted) Editorial by Herald-Leader Editorial Board Click here to view the full article Lawmakers balking at the idea of moving Kentucky’s public employees into individual retirement accounts have a solid reason for their reluctance: The change would cost taxpayers more, and the outcomes would be worse. Bravo then to the House Republicans […]

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Senate President Stivers Says Let Process Play Out When it Comes to Pension Bill

Spectrum News – 2/08/2018 (reprinted) by Don Weber Click here to view the full article FRANKFORT – We’re nearly 30 days through the 2018 General Assembly session, and everyone is still waiting for a pension bill to surface. Many Kentuckians and some legislators are surprised that, after not being able to address the issue in a […]

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JCPS Leaders Are Worried that Pension Reform Will Push Too Many Teachers Out the Door

Courier-Journal – 1/29/2018 (reprinted) by Grace Schneider Click here to view the full article Take a look at a few things that teachers object to in proposed pension reform in Kentucky. Mary Ann Gerth/Louisville Courier Journal Jan Taylor strolled into a classroom in Trimble County in her mid-20s and discovered she’d found her calling. Working with young children […]

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Some retired teachers may see health premiums spike

Richmond Register – 1/23/2018 (reprinted) by Ronnie Ellis Click here to view the full article When Carla Breeding thought last summer about retiring as a public school administrator, she considered the financial needs of her two adoptive children, ages 13 and 15. Breeding, 55, taught for 33 years, 27 of them in Kentucky, teaching special […]

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This Retired Teacher’s Health Insurance Would Jump to $978 A Month Under Bevin’s Plan

Herald Leader – 1/23/2018 (reprinted) by John Cheves Click here to view the full article Members of the General Assembly are getting an earful from the 8,554 retired teachers younger than 65 whose health insurance costs could quadruple under Republican Gov. Matt Bevin’s two-year budget proposal, which would end the $145 million state subsidy that keeps their coverage […]

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‘Devastating’ Cut Could Mean Some Retired Kentucky Teachers Pay Thousands More in Insurance

Courier Journal – 1/26/2018 (reprinted) by Tom Loftus Click here to view the full article FRANKFORT, Kentucky – Many retired teachers would pay thousands of dollars per year more for health insurance under Gov. Matt Bevin’s proposed 2018-20 state budget, say advocates for retired teachers. While Bevin’s proposed budget fully funds pension benefits for teachers […]

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Rep. Shell Expects Pension Bill in Two-Three Weeks; Likely Reforms to KTRS

Spectrum News – 1/22/2018 (reprinted) by Nick Storm Click here to view the full article FRANKFORT — Majority Floor Leader Jonathan Shell, R-Lancaster, expects leaders from the House and Senate to reach an agreement on a pension reform proposal in the coming weeks. Currently the House and Senate leaders are making tweaks to the legislation, […]

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Statement from Tim Abrams of the KRTA on Governor Bevin’s Budget Proposal

While the budget funds the pension system, as required by law, the Bevin Administration is proposing stripping $54 million from retired teacher’s health care. This is beyond devastating for a retired teacher on a fixed income, putting the financial livelihood of thousands of retired teachers in real jeopardy if this budget is enacted. These cuts […]

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Smoke, Mirrors, and Pension ‘Reform’

neaToday – 9/24/2014 (reprinted) by Mary Ellen Flannery Click here to view the full article Public pensions are under attack across the U.S. From Arizona to Florida, state governors and legislators have been moving to cut pension benefits for retired teachers and other public employees, and enroll new workers in 401K-style “defined contribution” funds instead […]

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Pension fight brings out hundreds of NKY teachers

Cincinnati Enquirer – 10/24/17 (reprinted) by Scott Wartman Click here to view the full article EDGEWOOD – Hundreds of teachers filled a gymnasium in Northern Kentucky on Tuesday night. They weren’t there for basketball. They were there to save their pension plans. Faced with a $40 billion shortfall in the state’s pension system, Kentucky Gov. […]

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A Push to Revive Alaska’s Pension System State Employees Could Regain Pension System Dead 12 Years

Juneau Empire – 3/28/2017 (reprinted) by James Brooks Click here to view the full article A push to revive Alaska’s public pension system is under way in the state House of Representatives, where a Juneau lawmaker has suggested a measure that would directly affect more than 41,000 people statewide. Rep. Sam Kito III, D-Juneau, held […]

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Press Release: Report Shows Switch to 401k System Will Cause Added Harm

Kentucky Center for Economic Policy – 8/22/2017 (reprinted) by Kenny Colston Click here to view the full article A new report released today by the Kentucky Public Pension Coalition (KPPC) shows how switching to a 401(k)-type retirement plan (also known as a defined contribution system) will not help Kentucky’s pension funding challenge but make it harder to […]

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Pensions Aren’t Just A Kentucky Problem. Here’s What Other States Have Done

89.3 WFPL – 11/01/2017 (reprinted) by Ryland Barton Click here to view the full article As Kentucky lawmakers consider moving most future and thousands of current workers into 401(k)-style retirement plans, the commonwealth can look to a few other states that have had to address pension issues in the wake of the recession. Many states […]

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Pensions Are A Critical Tool for Recruiting and Retaining Teachers, Offer Best Path to Retirement

National Institute on Retirement Security – 10/26/2017 (reprinted) by Kelly Kenneally Click here to view the full article WASHINGTON, D.C., October 26, 2017 –  A new report finds that defined benefit (DB) teacher pension plans work for both schools and teachers, and that there are important policy reasons to continue offering these retirement plans. The research […]

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William “Flick” Fornia, Former Boeing Actuary, Discusses Why A Switch From Pensions to 401k Plans Would Only Make Problems Worse

Listen to the audio here:   William “Flick” Fornia, President of Pension Trustee Advisors, one of the nation’s leading actuaries, sits down to discuss Kentucky lawmakers’ proposed changes to the pension system with Pat Crowley, a former Kentucky journalist and current representative for the Kentucky Retired Teachers Association. The discussion includes how a failure to […]

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Public Pension Shocker: Shutting a Pension Plan Actually Costs Taxpayers Money

Los Angeles Times – 8/21/2015 (reprinted) by Michael Hiltzik Click here to view the full article Amid the nationwide panic over the rising costs of public employee pensions, one proposed solution is nearly universal: States and municipalities should shutter their traditional defined benefit plans and place all new employees in a 401(k)-style defined contribution plan […]

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Obituary for Former KRTA Executive Director Dr. Robert “Bob” Wagoner

Dr. Robert “Bob” Wagoner, age 66 of New Castle passed away Tuesday, January 9, 2018. Bob was a native of Sellersburg, Clark County, Indiana. Bob was a member of the Eminence Baptist Church and was the son of the late Vernon & Mildred (Kopp) Wagoner. He began his tenure with KRTA on January 1, 2002 […]

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Sen. Thayer Says Switch to 401(a) Plans Will Happen, New Reform Bill is Written but Being Scored for Impact

Spectrum News – 1/2/2018 (reprinted) by Don Weber Click here to view the full article FRANKFORT – Senate Majority Floor Leader Damon Thayer, R-Georgetown, feels that the General Assembly must get a pension reform bill together as soon as possible. Thayer, who supported Gov. Matt Bevin’s original plan, believes that both the House and Senate […]

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Use Twitter to Pressure Your Lawmakers

Tweeting at your legislators repeatedly can be one of the most effective ways to ensure your opinion heard and not forgotten. Many public officials manage their own Twitter accounts, rather than having their staff do so. This means that tweets directed at those legislators are more likely to be heard and considered. Check out the […]

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A New Years Message from KRTA Executive Director

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Happy Holidays! Keep Up The Momentum!

Dear Supporter, We just wanted to take a moment to express our sincere gratitude for supporting our efforts in 2017 to protect retired teachers. Your support and voices halted unfair and poorly-crafted pension legislation that would harm the financial security of Kentucky’s teachers. The 2018 legislative session is right around the corner, and we will […]

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KY Attorney General Opinion: COLA Changes Illegal, Go Against “Inviolable Contract”

Statement from Kentucky Retired Teachers Association (KRTA) Executive Director Tim Abrams regarding Attorney General opinion on COLA and inviolable contract: Today’s opinion by Kentucky Attorney General Andy Beshear that proposed changes to the COLA formula would violate state law and Kentucky’s inviolable contract with participants in the state’s public pension confirms what the KRTA and […]

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Michigan Agency: Switching New Teachers to 401(k) Costs Billions

Associated Press via US News and World Report – 5/24/2017 (reprinted) by David Eggert Click here to view the full article Legislative economists estimate that it would cost $410 million in the first year to close Michigan’s pension system to newly hired teachers and instead provide them a 401(k) only. LANSING, Mich. (AP) — Making […]

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On Pensions, Kentucky Should Heed W. Virginia’s Hard-Learned Lessons

Herald-Leader – 10/10/2017 (reprinted) Op-Ed by David Haney Click here to view the full article Gov. Matt Bevin and the Kentucky legislature are about to make a terrible mistake with the pension plans of public employees — one that West Virginia made. Switching newly hired public employees to a defined contribution 401(k)-style account will hurt […]

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Sen. Joe Bowen Believes Final Pension Bill Must be Passed Within First Two Weeks of Regular Session

Spectrum News – 12/18/2017 (reprinted) By Don Weber Click here to view the full article FRANKFORT – Now that the time for a special session has passed, the big question in Frankfort is how long it will take to pass a pension reform bill once lawmakers return to the state Capitol on January 2. Public […]

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The Champions of the 401(k) Lament the Revolution They Started

Wall Street Journal – 1/2/2017 (reprinted) By Timothy W. Martin Click here to view the full article Herbert Whitehouse was one of the first in the U.S. to suggest workers use a 401(k). His hope in 1981 was that the retirement-savings plan would supplement a company pension that guaranteed payouts for life. Thirty-five years later, the […]

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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 Bob […]

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

Spectrum News – 12/7/2017 (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 adamant […]

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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 Courier […]

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New Talking Points for Teachers

A majority of benefit payouts for retired teachers is generated from investment income. Taxpayers only pay for approximately a quarter of benefit payouts. Actuaries have stated that if TRS continues to be funded properly, the pension system will be actuarially sound regardless of ratio of active workers to retirees. Kentucky has three different retirement systems […]

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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 have […]

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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 on […]

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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 or […]

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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 it […]

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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 promise […]

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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. Last […]

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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 is […]

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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 than […]

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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 bill […]

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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 financial […]

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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 the […]

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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. […]

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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 pension […]

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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 Board […]

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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 the […]

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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 frighten […]

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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 prospects […]

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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, 2017 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 […]

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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 have […]

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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 fund […]

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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:   […]

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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 schools […]

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Shirley Wolf

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David Sayers

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Jane Dalton

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Doris Farley

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Maggie Napier

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Sally Smith

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Georgeanne Lovely

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Steve Gilliespe

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Cookie Henson

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Edwin Cook

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Charles Lovely

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Carol Falin

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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 be […]

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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 Teachers […]

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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.  A […]

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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 and […]

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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, […]

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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 treated […]

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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 prohibit […]

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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 legally […]

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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, the […]

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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. […]

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Key Facts

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About the Issue

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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 State […]

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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 expecting […]

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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 earlier […]

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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 brothers […]

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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 its […]

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