• close shot of old balance scales. The copy reads: Defined Benefit Retirement Systems are the most effective and taxpayer efficient way of providing a dignified retirement for Kentucky’s teachers.

A pension isn’t a bald promise or a luxury. Rather, it’s an agreed-upon form of compensation established under Kentucky law that provides our teachers with retirement benefits in exchange for a lifetime of educating our children.

Ever since the Teachers’ Retirement System (TRS) was initially funded in 1940, Kentucky teachers have faithfully, dutifully, and consistently contributed into this retirement system each pay period while our elected officials have failed to live up to their end of the bargain. For almost a decade — from 2007 to 2016 — state officials failed to make the required contributions to TRS – despite funding their own pensions and relaxing their own pension rules.

Now, with our retirement system in crisis, our elected officials in Frankfort have proposed significant reform plans without seeking any input from affected stakeholders, essentially asking retired teachers to write off this debt without the state making any financial sacrifices of its own. New legislation must include input from all affected parties.

We must teach Frankfort that it needs to pay its debts and provide the more than 52,000 retired public-school teachers, administrators, and staff members with the secure retirement benefits they were promised and they expected when they retired.
 

Our Priorities in 2019:

Transparency is Critical for any Future Pension Reform
The Teachers’ Medical Trust Fund Must be Funded
TRS Must Maintain Independence

How can you help?

Send a pre-written message to your local officials using the form below.  

Are you a retired teacher who now lives outside the Commonwealth of Kentucky? click here

News

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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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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How can you help?

Send a pre-written message to your local officials using the form below.  

Are you a retired teacher who now lives outside the Commonwealth of Kentucky? click here

For any additional questions or concerns, contact info@teachfrankfort.org.
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