Kentucky Teachers' Retirement System is now known as Teachers' Retirement System Kentucky.
Through "Shared Responsibility" the Commonwealth changed the Teachers' health insurance benefit from a pay-go benefit to a prefunded trajectory. Three funding notes were issued by the Commonwealth of Kentucky Asset/Liability Commission in 2010, 2011 and 2013. The notes reimbursed, in full, the pension plan for its reallocated contributions and provides stabilization funding so that the phased-in contributions from active teachers, school districts and retired teachers could reach their full impact.
In 2010, the Kentucky Asset/Liability Commission won The Bond Buyer's Deal of the Year Award for the Southeast Region for its first issuance of $467.55 million of funding notes.