Kentucky Employment Retirement System (KERS)

Classified Employees

• Contributions:  Member pays 5 percent of monthly wage and University pays 8.03 percent of monthly wage.
• You are vested after five years of service.
• Vesting entitles you to membership in the retirement system's group medical insurance plan.
• The normal retirement age is 65.
• You can retire with full benefits regardless of age after 27 years of service.
• The retirment plan is not portable.
• Any premature withdrawal of your contribution to the retirement fund will be subject ot substantial penalties unless transferred to a recognized retirement fund.
• The retirment system offers a number of payout options upon retirement.
• Retirement income is based on member's contributions and years of service.  For information on the appropriate formula to use to determine benefit see www.krs.state.ky.us