🌟 Your Retirement Benefits at Nelson County Schools
We want to make sure you have a clear path to a secure retirement.
Your retirement plan has two main parts: a Guaranteed Pension and Optional Savings.
1. Your Guaranteed Pension (Mandatory)
This is the main retirement benefit you automatically contribute to, and it provides a guaranteed income for life once you retire.
Who is covered by KTRS?
Certified Employees (Teachers, Principals, etc.)
System Name: Kentucky Teachers’ Retirement System (KTRS)
Who is covered by KPPA/CERS?
Classified Employees (Bus Drivers, Custodians, Office Staff, etc.)
System Name: Kentucky Public Pension Authority (KPPA)
2. Optional Retirement Savings (Voluntary)
Our district also offers voluntary supplemental savings plans. These plans let you set aside extra money from your paycheck, often with immediate tax benefits, allowing your savings to grow faster.
The Kentucky Public Employees’ Deferred Compensation Authority (KDC)
457(b) Plan (tax-deferred)
401(k) Plan (you can choose to make tax-deferred contributions or after-tax contributions under a Roth 401(k) option)
Deemed IRAs (an option within the 401(k) plan)
403(b) or Tax-Sheltered Annuity (TSA) Plans through TSA Consulting Group
Voluntary retirement savings plans available exclusively to employees of public schools.
You can contribute on a Pre-Tax basis (lowers your current income tax) or a Roth (After Tax) basis (withdrawals in retirement are tax-free)
Your contributions and earnings grow tax-deferred until withdrawal (or tax-free in the case of Roth).
Funds are invested in approved annuity contracts or mutual funds
-
The Kentucky Teachers’ Retirement System (KTRS)is a statewide, defined benefit pension plan for the commonwealth's educators. KTRS provides essential benefits including a lifetime retirement annuity, life insurance, and retiree health insurance to over 130,000 active and retired members.
TIER 1, 2 & 3 Service Retirement
TIER 1, 2 & 3 Retirement Basics
Contact Information:
1-800-618-1687
-
The Kentucky Public Pensions Authority (KPPA) is responsible for the investment of funds and administration of pension and health insurance benefits for nearly 444,000 state and local government employees, state police officers, and nonteaching staff of local school boards and regional universities.
Contact Information:
502-696-8800
1-800-928-4646
-
Kentucky Public Employees’ Deferred Compensation Authority (KDC) is authorized under the Kentucky Revised Statutes (18A.230 – 18A.275) to provide administration of tax-deferred supplemental retirement plans for all state, public school and university employees, and employees of local political subdivisions that have elected to participate. It is an agency attached to the Personnel Cabinet of the Commonwealth of Kentucky for administrative purposes only.
We offer two retirement plans for employees like you to save from each paycheck and invest toward retirement. These plans can help bridge the gap between what you have in your pension and Social Security (if applicable), and how much you will need in retirement. The available deferred compensation plans include:
Three pre-tax options:
457(b) Plan - tax-deferred
401(k) Plan - tax-deferred
Deemed Traditional IRA
Three after-tax options:
Roth 457(b)
Roth 401(k)
Deemed Roth IRA
Kentucky Deferred Comp website
Local Retirement Specialists: Brent Music, 859-230-3500, musicb1@nationwide.com
-
The 403(b) is a voluntary, tax-advantaged retirement plan available to employees of Nelson County Schools. It’s a way for you to save extra money for retirement, supplementing your state retirement plan (TRS/KRS). A 403(b) is a way to invest money from your paycheck automatically before it even hits your bank account.
Nelson County Schools uses a Third-Party Administrator (TPA) to manage our list of approved investment providers (vendors). You must choose a vendor from this official list.
TSA Consulting Group is the TPA for Nelson County Schools. Please visit their website to view the list of approved vendors and for more information on starting a 403(b) plan.
FAQ’s
-
Contact your retirement system to discuss eligibility and available benefits:
Certified/Classified Professional - KTRS (Kentucky Teachers Retirement System) 800-618-1687
Classified - KPPA (Kentucky Public Pensions Authority) 800-928-4646
Once your retirement date is confirmed, upload your retirement notification through TalentEd.
-
At least 45 days before the intended retirement date.
-
Yes. A retirement packet will be forwarded from the retirement specialist after confirmation of retirement has been received.
-
This could affect your service credit. June 1 retirees will not receive a full service credit since the contracts end June 30. It is the retiree’s responsibility to to contact their retirement system with questions and concerns.
-
The KTRS 9b change is an audit done by KTRS. If the audit finds you have paid too much in contributions or paid in error, you will be notified of a refund. The district will receive the same notification. KPPA pension spiking is an audit done by KPPA. If the audit determines a significant increase in salary, KPPA will reach out to the district for review and confirmation.
-
30 percent of your sick leave and 100 percent of your vacation leave.
-
You have the option to receive a check or shelter with a NCS partnered annuity vendor. If sheltering, you must notify the selected annuity vendor of your intent to shelter within 30 days of your retirement date. It is also the retiree’s responsibility to ensure that the vendor has set up their account to receive funds the closer it gets to their retirement date and that NCS HR and payroll departments have been notified with the proper documentation.
-
All active benefits, including voluntary benefits, will end on the day before your retirement date. Ex. Retiring 07/01/2026, your benefits terminate on 06/30/2026. Discuss health coverage with your state retirement counselor.
-
If you want to continue voluntary benefit coverage, you need to contact the vendors directly to discuss individual rates.
-
Yes, it is the retiree’s responsibility to reach out to the Department of Employee Insurance regarding porting life insurance.
Department of Employee Insurance 888-581-8834
-
Yes, However, you can not volunteer or work in any capacity during your break in service.
KPPA retirees, 30-day break in service
KTRS retirees, 90-day break in service
-
No. You will lose access to your NCS email and all other accounts on your termination date. We advise that you cc: your personal email on all retirement correspondence
After retirement, you will be defaulted to mail W2 forms, which are ready by Jan. 31 each year. The 1095 forms are ready by March 1.