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Kentucky law for TRS (KRS 161.220-716)
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Overview
TRS is administered by an 11-member Board of Trustees. Two, the education commissioner and the state treasurer, serve by reason of their office. Two, who are required to have investment experience, are appointed by the governor. The remaining trustees are elected by TRS members to staggered four-year terms. Kentucky law requires that four trustees be active members, one trustee be a retired member and two trustees be from outside the teaching profession. Day-to-day operations are led by the executive secretary hired by the board.
Board of Trustees
Regular Meetings
State law requires the Board of Trustees to meet on the third Mondays of March, June, September and December. In 2020, those meetings will begin at 12:30 p.m. (unless noted otherwise on the published agenda) on March 16, June 15, Sept. 21 and Dec. 21. Meetings are held in the boardroom of the Teachers’ Retirement System, 479 Versailles Rd., Frankfort, Ky., 40601. All meetings are open to the public. Information about each board committee is contained on the committee’s homepage, which is linked below with its list of members.
Special Meetings
Special meetings of the board or its committees also may be called, with the notice and agenda published online here at least 72 hours beforehand. Board agendas (with notice) also will appear in the “Board of Trustees meeting notices and agendas” link below, and committee agendas (with notice) also will appear on the page linked below for the respective committee.
Meeting Information
- TRS Board of Trustees approved minutes
- Board of Trustees meeting notices and agendas
- Board of Trustees meeting materials
- Minutes and agendas for board committees are linked from committee lists below
Board of Trustees Members
The laws governing the operations of the Teachers’ Retirement System of the State of Kentucky provide that the Board of Trustees is responsible for the general administration, management and proper operation of the retirement system. In satisfying this responsibility, each board member acts in a fiduciary capacity. The obligation of a fiduciary is the highest duty under law. Each TRS board member is, at all times, subject to the statutory and common law duties of a fiduciary and the board policies governing board member conduct. As such, TRS board members must file personal financial disclosure statements, sign a policy that prohibits conflicts of interest and agree not accept campaign contributions or gifts from donors who could be perceived to be influencing the trustee in the performance of TRS duties. (Details and copies of those policies are contained in the Board Governance Manual linked below.)
Standing Committees
The membership of each of the standing committees can be seen — along with notices, agendas and minutes for that committee — by clicking the link below for that committee.
Administrative Appeals
Governance & Audit
Insurance
Investment
Legislative
Nominating
Personnel
Scholarship