Legislative Session - TRS pension reform

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.