Legislative Session - TRS pension reform
IMPORTANT MESSAGE FROM KEA
During this uncertain time, KEA is taking steps to be responsible neighbors and citizens. In keeping with Governor Beshear's recommendations and recent Executive Orders, all KEA staff are working from home. Even though we aren't operating in our normal ways, KEA remains dedicated to supporting our members. If you need assistance or have a question, please call our main line at 1-800-231-4532, and dial extension 1323 to leave a message. Calls will be routed to the appropriate staff person as soon as possible, but not later than the next business day. You can also reach your UniServ Director or any other KEA staff member via email; just go to www.kea.org under "About us" and use the "UniServ Directors" page or the "Staff Directory" page to find the person you want to contact. You can email directly from the link on the page.
Like all of you, we look forward to the time when our lives and business operations can return to normal. Until then, please know that we are still here for you., as we have always been. Be safe and well. We look forward to seeing all of you again soon.
HB258: Rep. Ed Massey filed HB258, which, if passed, will create a new tier of TRS for certified personnel hired on or after January 1, 2022. The bill is co-sponsored by Rep. Jerry Miller and Rep. James Tipton. The changes proposed by HB258 do not affect any current TRS participant, nor do they affect any TRS retiree.
- This chart compares the current provisions of TRS to the proposed provisions for new hires
- This summary document describes the changes proposed in HB258
- This document offers an example of the salary replacement levels that participants in the new tier could expect to receive
- This is the Actuarial Analysis of HB258
The KEA Board of Directors voted to TRACK this bill. As of Thursday, Feb. 4, HB258 passed out of the House unchanged and is headed to the Senate. As with all legislation, the bill as originally filed can change substantially once it starts moving through the legislative process. Although KEA is currently tracking this bill, that position could change if the bill is amended.
JCTA President, Brent McKim, explained the provisions of the bill in this video. It's about 30 minutes long, but is an excellent resource if you want to learn more.
This guiding principles document sets out the concepts we required as part of any new hire tier.