General Government Teachers' Retirement System
Actual FY 2024Actual FY 2025Revised FY 2026Recommended FY 2027Recommended FY 2028
SOURCE OF FUNDS
General Fund
Regular Appropriation767,731,100846,740,7001,037,231,2001,225,339,0001,277,624,600
Budget Reserve(39,325,100)40,000,00040,000,000
Special Appropriation
Total General Fund728,406,000886,740,7001,077,231,2001,225,339,0001,277,624,600
Restricted Funds
Balance Forward184,366607,5081,174,500
Current Receipts118,756(109,944)
Non-Revenue Receipts19,068,33220,479,68620,959,90023,326,30024,418,700
Total Restricted Funds19,371,45520,977,25122,134,40023,326,30024,418,700
TOTAL SOURCE OF FUNDS747,777,455907,717,9511,099,365,6001,248,665,3001,302,043,300
EXPENDITURES BY CLASS
Personnel Costs14,834,99315,606,39117,477,80017,763,00018,055,400
Operating Expenses3,928,9544,163,8884,580,7005,487,4006,287,400
Grants Loans Benefits728,406,000886,771,1431,077,231,2001,225,339,0001,277,624,600
Capital Outlay75,90075,90075,900
Construction2,024
TOTAL EXPENDITURES747,169,946906,543,4471,099,365,6001,248,665,3001,302,043,300
EXPENDITURES BY FUND SOURCE
General Fund728,406,000886,740,7001,077,231,2001,225,339,0001,277,624,600
Restricted Funds18,763,94619,802,74722,134,40023,326,30024,418,700
TOTAL EXPENDITURES747,169,946906,543,4471,099,365,6001,248,665,3001,302,043,300
EXPENDITURES BY UNIT
Teachers' Retirement System747,169,946906,543,4471,099,365,6001,248,665,3001,302,043,300
TOTAL EXPENDITURES747,169,946906,543,4471,099,365,6001,248,665,3001,302,043,300
The Teachers' Retirement System, as defined in KRS 161.220 to 161.716, was established in 1940 to provide a broad program of retirement benefits, death and survivor benefits, medical insurance benefits, and disability benefits to its membership.
Administration of the System is the responsibility of the eleven member Board of Trustees. Two of the members, the Commissioner of Education and the State Treasurer, are ex officio, serving by reason of their constitutional offices. Two members with investment experience are appointed by the Governor and subject to Senate confirmation. The members of the Retirement System elect the remaining seven trustees for four year terms and cannot exceed three consecutive terms. Four of these must be active members of the Retirement System, one must be a retired member, and two must be persons from outside the teaching profession. The Board of Trustees appoints an Executive Secretary who is responsible for the administration of the affairs of the Retirement System under policies established by the Board.
Membership is comprised of all persons occupying positions in the public elementary or secondary schools for which certification is required. In addition, staff members of Western Kentucky University, Eastern Kentucky University, Morehead State University, Murray State University, Kentucky State University, professional staff of the Department of Education, Department of Workforce Development, faculty members of the School for the Deaf, the School for the Blind, as well as faculty of the state and area vocational schools are members. Membership is mandatory for all persons teaching in the public schools or other institutions covered by the statutes governing teachers' retirement.
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