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Retired teachers discuss benefits, insurance plans provided by KRTS

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The Carroll County Retired Teachers Association met  Oct. 26 for lunch at Two Rivers Restaurant at General Butler State Resort Park lodge. Eight members were present.

During the meeting held after lunch, Secretary Velma Hunt read the minutes and president/treasurer Cassandra McBurney gave the treasurer’s report. She reported that the local group has a total of 29 members.

After setting aside money for the district food bank project and for district dues, it was decided that there would be enough money for the organization to buy a food angel during the Christmas season. The membership directed the treasurer to make the purchase.

McBurney reported that the information papers concerning the grandparent essay contest had been dropped off to the fifth-grade teachers at Cartmell Elementary School. Association members are hopeful that all students will take part in the contest.

Pat Supplee gave a report on health insurance for the under-65 age group. The members were reminded that when they hear about things concerning the Kentucky Retirement System, they are not meaning the Kentucky Retired Teachers’ System.

The president handed out copies of a letter  she received from Kentucky Retired Teachers’ Association that included some points to remember concerning the retirement system. First, retired teachers are not covered by Social Security. KRTS was established in 1938 because Kentucky retired teachers were not permitted by the Social Security Administration to participate in their program.

About 43,000 retired teachers, beneficiaries and survivors receive annuity payments each month. More than $1.6 billion in annuity and medical payments are disbursed yearly, providing a significant positive economic impact on all of Kentucky’s local communities.

Historically, about 70 percent of the retirement allowance distributed annually comes from investment earnings to KRTS.

There was some discussion concerning candidates ‘position on two key issues. The first is to keep KRTS as a defined benefits group retirement plan, and the second is to make sure there are no changes to its governance structure.

The next meeting of CCRTA is March 15. Members will be notified by e-mail or phone of the time and location.