To the Editor:
The meeting at the Forum in Hazard on Feb. 14 was formed to bring some clarity to the problems of the Kentucky Retirement System.
There are two major retirement systems in Kentucky:
• Kentucky Retirement System
• Kentucky Teachers Retirement System.
Most people don’t know the difference between the two and confuse them.
Kentucky Teachers Retirement System is not connected to the Kentucky Retirement System and is not part of their problems.
The Kentucky Legislature is required to provide a certain amount of funding to both these systems.
I was told by one legislator that during the boom times when there were high returns on investments, the legislature felt they didn’t need to contribute their part, but, when the recession hit in 2008, they neglected to start providing funds again.
In 2010, House Bill 540 was passed to shore up the legislators’ responsibility to KTRS for their health care. To get this done is a shared endeavor by retired teachers, active teachers, Boards of Education and the Chambers of Commerce, among others. It was a shared responsibility.
Letcher County Retired Teachers