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 graph below was shared and shows retirements from 2009 – 2022 have stayed somewhat consistent.

 

Mr. Barnes testified again on Wednesday before the House Budget Review Subcommittee on Personnel, Public Retirement, & Finance. During this committee meeting, he shared the actuarial 30-year projections which shows at Full Funding TRS required contributions from the state will decrease.  Graph below.

 

The entire materials shared at these committees can be found here:

TRS Materials for House Education Committee Meeting 2/7/2023

TRS Materials for BR Subcommittee on Personnel, Public Retirement, & Finance meeting 2/8/2023

 

KRTA staff, volunteers, and lobbyists will continue to be in Frankfort to monitor legislation that may impact retired teachers.

• The 2023 KRTA Legislative Priorities can be found here.
• There were several Education bills filed this week.  A total list can be found here.
• Remember you can sign up to receive KRTA Text alerts regarding the 2023 Legislative Session here.

 

Kind regards,

Tim Abrams, Executive Director of KRTA