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Current Service - Current service is earned as a contributing member after the establishment of the retirement system. For each month an employer reports wages and contributions for regular full-time employment, a member earns one month of service credit.
The Kentucky Employees Retirement System (KERS) was created in 1956 by the Kentucky General Assembly in order to supplement the benefits provided by Social Security. When the first actuarial valuation was completed June 30, 1957, there were 16,000 employees participating in KERS and assets of $2.8 million.
Open Enrollment for Medicare-eligible retirees begins October 21, 2024 and runs through November 30, 2024. Enrollment is NOT mandatory for either plan. If you are a Medicare-eligible retiree, PLEASE WAIT until your Open Enrollment begins on October 21 to call with questions.
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.
Senate Bill 209 increases the non-Medicare eligible retiree health subsidy for career members of KERS, CERS, and SPRS who began participating in the system on or after July 1, 2003, who are eligible for a fixed-dollar retiree health subsidy not tied to the premium.
26 sty 2023 · MSS allows members to apply for retirement, upload documents, obtain benefit and service purchase estimates, see annual statements, and much more. To learn about MSS, visit the Managing Your Retirement Account page on our website.
(2) Changes to Current Employee and Retiree Benefits. The August recommendations contained substantial reductions in benefits for both current employees and retirees. The recent bill has not included most of those cuts. Instead, there are two significant changes to current plan participants.
