The terms you'll see on Pathway, in TRS of Kentucky letters and on this site, each in a sentence or two, with its source.
These are the words you'll meet in TRS of Kentucky letters, on Pathway and on these pages. To put them to work, try the TRS of Kentucky calculator, or start with your account type and the benefit formula.
Your TRS of Kentucky group, set by the date you first entered TRS of Kentucky: TRS 1 before July 1, 2002; TRS 2 to June 30, 2008; TRS 3 to Dec. 31, 2021; TRS 4 from Jan. 1, 2022.
TRS Basics 1-3 p. 1, TRS Account Types; TRS Basics 4 p. 1More on this →The two parts of the TRS 4 multiplier: an age factor (1.7% to 1.9% for school districts) plus a career factor (0.25% at 20 years, 0.5% at 30).
TRS 4 SPD p. 8More on this →Cost-of-living adjustment: the 1.5% increase every July 1.
KRS 161.620(2); TRS 1-3 SPD (2011) p. 41More on this →The average of your five highest annual salaries, or three highest for TRS 1-3 members 55 or older with 27 years.
KRS 161.220(9); TRS 1-3 Service Retirement bulletin p. 1More on this →TRS 4's lifetime pension, figured with the age and career factors. It is subject to the board's risk controls.
TRS 4 SPD pp. 6-9More on this →Kentucky Employees' Health Plan: the health plan for TRS of Kentucky retirees under 65 who aren't on Medicare.
TRS 4 SPD p. 17More on this →Medicare Eligible Health Plan: TRS of Kentucky's plan for retirees 65 and older or on Medicare.
TRS 4 SPD p. 17; 2026 Turning 65 booklet p. 5More on this →The percentage applied to each year of service. When you reach a higher multiplier, it applies to all your years (up to 30).
TRS 1-3 Service Retirement bulletin pp. 1-2More on this →Non-university members work for school districts and other education agencies and don't pay Social Security on that pay. University members also pay into Social Security and have lower multipliers.
TRS Basics 1-3 p. 1, MembershipMore on this →Straight life annuity with refundable balance: the largest monthly payment, for your life only; any balance left in your account goes to your beneficiary.
TRS 4 SPD p. 14More on this →TRS of Kentucky's secure online site for estimates, statements and retirement applications.
TRS 4 SPD p. 5More on this →Service in Kentucky Public Pensions Authority or Judicial Form systems counts toward TRS of Kentucky eligibility if you retire all accounts at the same time; each system pays its own share.
TRS 4 SPD pp. 13-14; KRS 161.600(4)-(5)More on this →Total years in TRS-covered work or purchased; at most one year per fiscal year (July 1-June 30).
TRS 4 SPD p. 7More on this →TRS 4 only: a savings account funded by contributions and annual interest, which you can annuitize, roll over or take as cash at or after retirement.
TRS 4 SPD pp. 8, 15-16More on this →You have five years of Kentucky service, so you can draw a benefit later even if you stop working.
TRS 4 SPD p. 10More on this →Giving up your annuity to return to full-time TRS of Kentucky work; after a full contract year your benefit is recalculated.
KRS 161.605(14)More on this →Source: TRS Summary Plan Descriptions and Service Retirement bulletins, TRS 4 SPD January 2022; TRS 1-3 SPD 2011; Service Retirement bulletins March 2023, TRS 4 SPD pp. 5, 6-9, 7, 8, 10, 13-14, 14, 15-16, 17; TRS 1-3 SPD (2011) p. 41; TRS 1-3 Service Retirement bulletin pp. 1, 1-2. Also: TRS Basics 1-3 p. 1; TRS Basics 4 p. 1; 2026 Turning 65 booklet p. 5; KRS 161.220, 161.600, 161.605, 161.620. Last reviewed .