UPDATE (3/24/2020): The calculator has been disabled. It has recently come to my attention that the above-mentioned calculator has not been functioning properly and the software has not been providing estimates as intended. The calculator was initially built to illustrate the impact of proposed changes to the teachers’ pension back in 2017 & 2018. It was not intended to be an ongoing replacement for estimates of the current benefit. To prevent any future confusion with the aforementioned calculator and its estimates, I have made the decision that it has outlived its purpose and therefore should be disabled. For the most accurate figures of the current teachers’ pension benefits, call or visit the KTRS website directly. Thank you for your patience and apologies for any inconvenience this may have caused.

UPDATE (3/29/18): Full details of the changes are not yet known, but the calculator has been updated to reflect the known pension changes in the SB151 bill passed on 3/29/18.

The Proposed Pension Calculator was created in an attempt to help you and other Certified Employees take the proposed changes to the teachers’ pension from a conceptual list of bullet points to a real and actionable number. I’m not in a position to guess or predict whether the plan will be upheld, but I do think it’s important to proactively plan for the possibility that it will become reality.

Here’s what you can expect from the Kentucky Teachers’ Proposed Pension Calculator:

What it WILL do:

• Allow you to run a ‘What If’ scenario (i.e. what if I retire on…)
• Estimate the monthly benefit amount under the new plan
• Estimate the monthly benefit amount under the current plan
• Project the effects of cost-of-living-adjustments on the monthly pension benefit amounts at five years and ten years into retirement

What it WILL NOT do:

• Tell you whether or not to retire
• Project your optimal retirement date in order to maximize your monthly benefit amount

Click here to view a sample estimate from the calculator.

The proposed changes will have varying degrees of impact on each and every current and former teacher in the state. To get the most out of the calculator, I would highly encourage you to review the details of the pension proposal before projecting your retirement date, or (Warning: Shameless Plug!) talk to a financial planner who will help you consider all of your options and make the optimal retirement decision for yourself both personally and financially.

I hope you find the calculator’s estimate to be helpful and useful in interpreting how the changes will truly impact your decision-making. As always, don’t hesitate to reach out if you have questions!

IMPORTANT: This calculator was created by Pivot Point Wealth. Pivot Point Wealth is a separate entity from and is not affiliated with the Teacher’s Retirement System of Kentucky in any way. This calculator is only intended to provide an estimate of a person’s pension benefit based on known facts of the current KTRS pension plan and publicly-released details of Kentucky pension reform. The details of the proposal are not final and, as such, may change in the future. The calculator will not project or predict any monthly benefit amounts associated with the proposed hybrid cash balance plan for new teachers and any contributions directed toward to it. The pension benefit estimate is not an assurance of any benefit that a person will eventually receive. You should contact your retirement system benefits office for an official projection of your pension income and all other income options. This intended for illustrative purposes only. Retirement decisions should not be based in whole or in part upon the information obtained from using this Proposed Pension Calculator. It is recommended that KTRS members consult with a Kentucky Teachers’ Retirement System counselor to obtain detailed calculations for their unique situation.