Contribution All members contribute 9.855% of compensation on a pre-tax basis. [9.105% is contributed to the member's retirement account and .75% is contributed to the medical insurance fund for retiree medical benefits]
Eligibility Service credit will be earned for days worked. When 5 years of service credit have been accumulated, a member will be vested in retirement and medical benefits. For membership beginning July 1, 2002, the service credit multiplier will be 2.0% for the first 9.99 years of service. After 10 years of service, all years of service will be increased to 2.5%.
- Retirement benefits can be received at age 55 with 5 years service or at any age with 27 years service. The benefit increases with each year of service beyond these minimum thresholds.
- Medical benefits - KTRS retirees will be eligible to participate in the Medical Insurance Program.
- Survivor benefits will be available for the spouse and children of qualified members*.
- Life insurance benefit of $2,000 will be available for qualified members*.
- Disability benefit will be available for qualified members*.
Refunds Members who do not become vested or who permanently terminate their employment may refund their retirement account plus any accumulated interest. Refunds will be made within 90 days of posting the annual reports from school districts/employers. Annual reports would generally be posted to member accounts in early September with requested refunds then being processed by December.
Members providing Part-time and Substitute Services shall be subject to the same limitations and conditions regarding the accumulation and use of service credit that apply to full-time services.
Important You and your employer must fill out KTRS form F1-Membership
Application in order to establish your membership and protect your right to benefits. The F1Membership Application is available from your employer.
*NOTE: Eligibility conditions will require members providing part-time and substitute services to complete at least sixty-nine hundredths of a full contract year before they and their survivors are eligible for survivor benefits and the life insurance benefits. For example, a substitute teacher in a school district which uses a 187-day contract will have to complete 129 days before these benefits are available (if the calculated number of total required days results in a fractional day, it is rounded down to the nearest whole day).