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The Kentucky Public Pensions Authority (KPPA), formerly known as The Kentucky Retirement Systems (KRS), [1] is the administrator of defined-benefit pension and insurance plans for most of Kentucky's state and county employees and retirees.
The Senate budget includes 2.6% pay raises for the next two fiscal years, while the House budget proposed a 4% raise in fiscal 2025 followed by a 2% raise in fiscal 2026.
Beshear’s budget proposal included $100 million for the 13 th check — a one-time additional payment for retirees of the Kentucky Employees Retirement System and State Police Retirement System.
Senate Bill 151, also known as SB 151, is a pension bill passed on March 29, 2018, by the Kentucky Senate and the Kentucky House of Representatives.The bill includes increases for cost of living, ends the inviolable contract for new teachers hired after January 1, 2019, and requires employees hired between 2003 and 2008 to pay an additional 1 percent of their pay for health care benefits in ...
Federal Employees Retirement System - covers approximately 2.44 million full-time civilian employees (as of Dec 2005). [2]Retired pay for U.S. Armed Forces retirees is, strictly speaking, not a pension but instead is a form of retainer pay. U.S. military retirees do not vest into a retirement system while they are on active duty; eligibility for non-disability retired pay is solely based upon ...
Kentucky has shoveled billions of dollars into recent state budgets to make up for a huge pension shortfall. KY pension fund kept gains in 2023 but faces 22% funding and $12.3 billion deficit Skip ...
Kentucky ranks 44th in starting teacher pay and 40th in average salary, according to the National Education Association (NEA). Both candidates for governor in 2023 called for raises for teachers.
Furthermore, teachers hired after January 1, 2021, will not receive health benefits, along with teachers having to pay $10,000 per year in out of pocket health insurance. [ 21 ] Because of a majority of the strikes being in predominantly Republican Party-controlled, conservative states, the strikes have been referred to as the "Red State Revolt".