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Committee advances bill to redirect teacher contributions to pension once TRS medical fund is fully funded
Summary
House Bill 694 would redirect certain employer contributions currently going to the Kentucky Teachers' Retirement System medical fund to the pension side once the medical fund reaches full funding; the Appropriations and Revenue Committee advanced the bill after witness testimony and debate (8–1, 1 pass).
The Kentucky Senate Appropriations and Revenue Committee voted to give House Bill 694 a favorable report after an extended discussion and testimony from education stakeholders. The measure, described by the sponsor and committee members, would redirect employer contributions that currently go to the Kentucky Teachers' Retirement System (TRS) medical insurance fund to the pension side of TRS once the TRS medical fund reaches 100% actuarial funding.
Chair McDaniel explained the bill's intent, saying the change would occur "once the plan is 100% funded" and that employer contributions from local districts that currently flow to the health side would be redirected to pension funding at that point. Senator Neal questioned the mechanics and fairness of…
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