Greetings KRTA Family:
Legislators have returned this week for part 2 of the 2025 Legislative Session and the Kentucky General Assembly has been very busy. As of Friday, we completed day eight of the 30 day session. Once again, the biggest headline is HB 1, which reduces the income tax from 4% to 3.5%. It passed the House in bi-partisan fasion 90-7 before the break. On 2/4/25 it passed the Senate 34-3. It was signed by the Governor on 2/6/25. There have been several more bills filed this week, but nothing that impacts retired teachers. See below of updates.
WEP/GPO-The Social Security Administration has updated their website with new information. Lastly, there is a Proclamation being signed on February 25th if you able to attend. Information for all items are listed below:
An act relating to taxation of retirement distributions. This bill would increase the retirement distribution exclusion from $31,110 to $41,110 for taxable years beginning on or after January 1, 2026.
Status- introduced to Appropriations & Revenue 2/4/25
KRTA FULLY SUPPORTS THIS BILL AND WILL BE WATCHING IT CLOSELY.
An act relating to cost-sharing requirements for prescription drugs; require rebates to be passed through; establish confidentiality requirements for the rebate information; create a new section of KRS to provide the actual amount of rebates received.
Status- sent to Banking & Insurances 1/9-25
TRS HAS REVIEWED THIS BILL AND DOES NOT IMPACT RETIRED TEACHERS, BUT WILL CONTINUE TO MONITOR.
CLICK HERE TO GO TO OUR KRTA LEGISLATIVE RESOURCE PAGE
CLICK HERE TO RECEIVE OUR TEXT ALERTS FROM OUR TEXTING SERVICE
WEP/GPO Update– The Social Security Administration released new information on 2/3/25. See below for details:
NEW! What should people do now that the Social Security Fairness Act is law?
The Act applies to benefits you get on your own record (retirement or disability benefits) and to spouse’s or surviving spouse’s benefits on another person’s record. What action you need to take depends on your situation and on what type of benefits you qualify for.
If you never applied for retirement, spouse’s, or surviving spouse’s benefits because of WEP or GPO:
You may need to file an application. The date of your application might affect when your benefits begin and your benefit amount. However, each case is different, and all other Social Security laws and policies, such as benefit reductions for claiming benefits before the full retirement age, the retirement earnings test, and others, still apply.
The most convenient way to apply for retirement or spouses’ benefits is online at www.ssa.gov/apply. Please note that the online application continues to collect pension information until we are able to update it; however, we will not offset the benefit.
The survivor benefit application is not available online.
NEW! We will take an application by telephone for people who did not previously apply for retirement benefits because of WEP or spouse’s or surviving spouse’s benefits because of GPO. If you meet these conditions, call 1-800-772-1213 Monday through Friday, from 9:00 a.m. to 6:00 p.m. ET. When the system asks, “How can I help you today?”, say “Fairness Act.” Then, you’ll be asked a few questions. Your answers will help us connect you to a WEP-GPO trained representative to take your claim.
If you are not sure whether you ever applied for retirement, spouse’s or surviving spouse’s benefits:
You may need to file an application. The date of your application might affect when your benefits begin.
If you are entitled to retired or disabled workers’ benefits, and your benefits are currently being reduced by WEP; OR if you are entitled to spouse’s or surviving spouse’s benefits, and your benefits are currently being reduced or eliminated by GPO
Consider reviewing the mailing address and/or direct deposit information that SSA has on file for you. This will allow SSA to adjust your benefits as quickly as possible. Generally, no other actions are needed at this time.
The easiest way for most beneficiaries to update their address or direct deposit information with SSA, if needed, is online with a personal my Social Security account. There is no need to call or visit SSA. Visit www.ssa.gov/myaccount to sign in or create an account.
What if a person pays their Medicare premium directly to the Centers for Medicare & Medicaid Services due to the Windfall Elimination Provision or Government Pension Offset reduction?
NEW! Why did I receive a request from SSA regarding my pension amount?
WEP and GPO still apply to months prior to January 2024. In some instances, we may need to request the amount received for your pension from work not covered by Social Security to verify we are paying you correctly for these months.
2025 National Public Schools Week Proclamation
The Governor and Lt. Governor will be signing a 2025 National Public Schools Week Proclamation on February 25th at 10:00 AM in the Capitol Rotunda. We would love to fill the room for this event if you are able and interested in attending.
Click on the PDF to see all of the bills that have been filed related to education along with their status.