What Should You Know About the Kentucky Retirement System?


Quick Answer

The Kentucky Retirement System offers three tiers of benefit plans that vary based on participation date, notes the organization's website. Members can become part of the Kentucky Retirement System by accepting employment with a participating agency.

Continue Reading
Related Videos

Full Answer

Each Kentucky Retirement System plan requires a different participation date, and members can determine their eligibility by visiting the Member Self Service section. In addition, users can view the participation date on the Account Summary tab. The participation date represents the at which a member began paying contributions and earning service credit with the Kentucky Retirement System. This date does not necessarily coincide with a member's hiring date, notes the organization's website. Employees who are part of a nonparticipating position are not eligible to pay into the Kentucky Retirement System and do not earn service credit.

Members must register for self service by entering Social Security number, date of birth and PIN number, reports the frequently asked questions section of the organization's website. Members can also call the office to speak with an available benefits counselor. Members looking to officially retire must complete and submit Form 6000 along with a copy of a birth certificate. In addition, members can obtain an account balance by calling the office and requesting a letter by mail. Employees may purchase 31 types of service to increase service credit as well.

Learn more about Financial Planning

Related Questions