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Retirement


 

Important Information:

TRS

FULL RETIREMENT ELIGIBILITY CRITERIA

  • You are eligible for service retirement at any age once you have earned 27 years of service credit.
  • You are eligible for service retirement at the age of 60 with at least 5 years of service credit.

EARLY RETIREMENT ELIGIBILITY CRITERIA

  • If you became a member prior to July 1, 2008, you are eligible for service retirement at age 55 with at least 5 years of service credit at a reduced benefit of 5 percent for each year you are under age 60 or have earned fewer than 27 years of service, whichever is less.
  • If you became a member on or after July 1, 2008, you are eligible for service retirement at age 55 with at least 10 years of service credit at a reduced benefit of 6 percent for each year you are under the age of 60 or have earned fewer than 27 years of service, whichever is less.

 

KERS – participating prior to September 1, 2008

FULL RETIREMENT ELIGIBILITY CRITERIA

  • You are eligible for service retirement at any age once you have earned 27 years of service credit.
  • You are eligible for service retirement at the age of 65 with at least 48 months of service credit.

EARLY RETIREMENT ELIGIBILITY CRITERIA

  • You can receive a reduced benefit at any age once you have earned 25 years of service credit.
  • You can receive a reduced benefit at the age of 55 with at least 5 years of service credit.

 

ORP

FULL RETIREMENT ELIGIBILITY CRITERIA

  • You may start taking normal 403(b) plan distributions without penalty once you reach age 59 ½. Distributions are fully taxable at ordinary income rates.
  • You may take early distributions if you are at least 55 when you separate from service.
  • Employees are strongly advised to contact their ORP provider concerning distribution options and financial planning.

 

 

Administrator's Contact Information:

KERS

Website: https://kyret.ky.gov

Phone: 800-928-4646

 

TRS

Website: https://trs.ky.gov

Phone: 800-618-1687

 

Fidelity

Website: www.fidelity.com/atwork

Phone: 800-393-0860

 

TIAA

Website: www.tiaa.org

Phone: 866-842-2292

 

VALIC

Website: www.valic.com/wku

Phone: 502-295-2400

 

VOYA

Website: www.voya.com

Phone: 800-451-4702

 


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 Last Modified 1/13/21