Kentucky HB642 amends the Kentucky Teachers' Retirement System, affecting retirement benefits, survivorship benefits, and return-to-work provisions.

Kentucky HB642 modifies the Kentucky Teachers' Retirement System by adjusting retirement benefits, survivorship benefits, and return-to-work provisions for retired members. It sets specific conditions for retired members returning to work, including separation-from-service requirements and compensation limits. The bill also outlines survivorship benefits for spouses and children of deceased members, detailing the conditions and amounts payable. Additionally, it introduces a supplemental benefit component for certain members, providing alternative options for their retirement accounts.

Kentucky HB642 amends the Kentucky Teachers' Retirement System, affecting retirement benefits, survivorship benefits, and return-to-work provisions.

Kentucky HB642 modifies the Kentucky Teachers' Retirement System by adjusting retirement benefits, survivorship benefits, and return-to-work provisions for retired members. It sets specific conditions for retired members returning to work, including separation-from-service requirements and compensation limits. The bill also outlines survivorship benefits for spouses and children of deceased members, detailing the conditions and amounts payable. Additionally, it introduces a supplemental benefit component for certain members, providing alternative options for their retirement accounts.