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 slowing down HB 525.
Your advocacy helped HB 58 pass the House State Government Committee unanimously. This bill would restore the $10,000 reduction in pension income exempted from state income tax, raising the exemption back to $41,110. Don Hines, co—chair of KRTA’s State Legislative Committee, was as at the table in support of this bill on Tuesday. KRTA appreciates the efforts of Rep. Regina Huff, chair of the House Education Committee, for sponsoring this bill. Much work remains to have this exemption restored, so please watch your email and mobile phones for action alerts.
HB 58 still needs to pass the full House of Representatives. Please call your representative to support this legislation and urge the House of Representatives to continue to oppose HB 525.
HB 504 – a bill relating to the Teachers’ Retirement System that is sponsored by Rep. Scott Lewis and co-sponsored by Reps. Travis Brenda, Jim Glenn, and Robert Goforth – now has an actuarial analysis. HB 504 saves the state $563 million over the next 20 years. To see the actuarial analysis click on this link:
https://apps.legislature.ky.gov/recorddocuments/note/19RS/hb504/AA.pdf
We owe thanks to Rep. Lewis for his hard work on HB 504 and also for working WITH educators to address the pension “hysteria” in Frankfort. KRTA has not endorsed the bill, and we look forward to working with Rep. Lewis and other legislators to craft public policy that protects retirees and supports the future of public education. Stay tuned – we may need you soon on this measure.
KRTA legislative team will continue to be actively engaged with lawmakers in Frankfort and will alert our membership on important developments, including if we need your voices to advocate on key policy issues. Our thanks for your ongoing support.