Retirement

Kentucky State University supports the efforts of our faculty and staff to plan a fulfilling, financially secure retirement. As part of our total rewards package, the university offers mandatory and voluntary retirement options to help you meet your financial goals.

All regular, benefits-eligible employees are required by state law to participate in one of four retirement programs offered by the university. In addition to these two programs, all benefits-eligible employees may participate in  voluntary savings options as well. .

Descriptions of the programs and eligibility requirements are noted in the program overviews below:   

MANDATORY PLAN OPTIONS                                     

Teachers' Retirement System Kentucky : TRS is applicable for all positions that require either certification or graduation from a four (4) year college or university as a condition of employment. All full-time faculty and professional staff meeting the eligibility criteria are covered by TRS. Part-time employees who hold positions equal to 70% time or greater are also covered by TRS.   Retirement plan selection between TRS and the ORP must be made within the first thirty (30) days of employment. If no election is made, the employee is automatically enrolled in TRS. Retirement plan selection in TRS is irrevocable.   

Kentucky Retirement System : KRS is applicable for all positions that do not require certification or a four (4) year college degree. Regular full-time employees must participate by law. Part-time employees who average 100 or more hours of work per month over a calendar or fiscal year must also participate. 

Teachers Insurance and Annuity Association-College Retirement Equities Fund: TIAA the optional retirement plan (ORP) is available to those individuals who would otherwise be required to participate in the Teachers' Retirement System (TRS). Employees may elect the OPR as an alternative to TRS, only upon initial employment. The ORP is a Defined Contribution Plan qualified under Section 403 (b) of the Internal Revenue code and pays benefits based strictly on contributions and interest earned on those contributions. Both the employee and the University contribute a percentage of salary to the selected provider for funding the employee's individual retirement account. An employee who has elected the RP as his/her retirement may make a one time, lifetime change and elect to participate in TRS.  

AIGthe optional retirement plan (ORP) is available to those individuals who would otherwise be required to participate in the Teachers' Retirement System (TRS). Employees may elect the OPR as an alternative to TRS, only upon initial employment. The ORP is a Defined Contribution Plan qualified under Section 403 (b) of the Internal Revenue code and pays benefits based strictly on contributions and interest earned on those contributions. Both the employee and the University contribute a percentage of salary to the selected provider for funding the employee's individual retirement account. An employee who has elected the RP as his/her retirement may make a one time, lifetime change and elect to participate in TRS.  

VOLUNTARY PLAN OPTIONS

KY Deferred Compensation: Kentucky’s official supplemental retirement plan.  Kentucky Public Employees’ Deferred Compensation Authority (KDC) is authorized under the Kentucky Revised Statutes (18A.230 – 18A.275) to provide administration of tax-deferred supplemental retirement plans for all state, public school and university employees, and employees of local political subdivisions that have elected to participate.