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Governor Steve Beshear's Communications Office
Governor signs teacher retiree health care legislation
HB 540 provides long-term funding for retired teachers’ medical benefits
FRANKFORT, Ky. – Gov. Steve Beshear today ceremonially signed House Bill 540 establishing a plan for long-term funding of teacher retiree health care. The measure helps ensure that Kentucky’s retired teachers, as well as active teachers once they retire, will continue to receive health benefits.
“I applaud Kentucky’s education community and the General Assembly for working together to create this plan,” said Gov. Beshear. “Pension and medical benefits are critical tools for recruiting and keeping the best teachers in our state. Protecting the integrity of these tools continues the Commonwealth’s commitment to education and Kentucky’s future.”
House Bill 540 provides a shared responsibility solution that ends the long history of under-funding of medical benefits for Kentucky’s retired teachers. It calls upon active teachers, retired teachers, school districts and the state to share in a piece of the solution by investing a little more now to receive substantial returns later.
“HB 540 is the prime example of how the legislative process should work,” said sponsor Rep. Carl Rollins. “This is the result of all the parties coming together to find a workable solution to an important problem.”
“House Bill 540 allows Kentucky’s public school teachers to continue retiring with dignity and security,” said Dr. Bob Wagnoner, executive director of the Kentucky Retired Teachers Association.
The governor also signed House Bill 545 which changes various regulations of the Kentucky Teachers’ Retirement System (KTRS) including establishing a medical insurance trust fund.
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