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Veterans' Guide to Retiring in Kentucky

By    |   Friday, 01 Apr 2016 06:09 PM

Kentucky offers a smorgasbord of veterans' benefits across categories such as income tax breaks, financial assistance, preference points for government jobs, and healthcare. For veterans looking at retirement in Kentucky, here is more information.

1. Income Tax Breaks for Veterans

Kentucky income tax exclusion of up to $41,100 for pensions covers military pensions in addition to civil service, state and local government, and qualified private pensions and annuities, notes the Retirement Living Information Center.

In addition, Kentucky exempts Social Security, Roth individual retirement account distributions, and railroad retirement benefits from income taxes.

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2. Preference Points for Government Jobs

For military retirees thinking about a second career in government, Kentucky provides five hiring preference points for honorably discharged veterans and former members of the Kentucky National Guard, along with 10 preference points to veterans with service-connected disabilities.

Preference points are also available to some spouses of veterans with service-connected disabilities and to surviving spouses and financially dependent parents of veterans who died under honorable conditions while on active duty.

In addition, veterans who have served during a wartime period are authorized to get an extra five percentage points on any local or county civil service examination for employment, according to Military.com.

3. Financial Assistance to Veterans

Kentucky runs two programs that can provide financial assistance to veterans.

The Homeless Veterans Trust Fund can assist with rent or utilities to help a veteran in need from becoming homeless.

The Veterans Loan Program, on the other hand, sometimes provides loans of up to $10,000 to Kentucky veterans at below-market interest rates.

4. Educational Benefits for Families

Kentucky also offers free tuition to state-operated two-year, four-year, and vocational schools to family members of certain disabled veterans and those who died during active service.

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Qualified individuals include children, stepchildren, adopted children, spouses, and unremarried widows and widowers, according to Military.com.

5. Educational Benefits for Veterans

The Kentucky Department of Veteran Affairs refers those seeking information about educational benefits under post-9/11 G.I. Bill legislation to the United States Department of Veterans Affairs.

The USDVA says only that the law
"gives veterans with active duty service on, or after September 11, 2001, enhanced educational benefits that cover more educational expenses, provide a living allowance, money for books and the ability to transfer unused educational benefits to spouses or children."

6. Long-Term Healthcare for Veterans

KDVA operates three long-term care facilities for veterans. Each provides physical therapy and recreational activities and is fully equipped to provide care for dementia- and Alzheimer's disease-afflicted residents, according to Military.com.

7. Homeless Veterans Program

The KDVA has also collaborated with Volunteers of America to run a 40-bed drug and alcohol transitional residential and treatment center in Lexington, says Military.com.

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Kentucky offers a smorgasbord of veterans' benefits across categories such as income tax breaks, financial assistance, preference points for government jobs, and healthcare. For veterans looking at retirement in Kentucky, here is more information.
retirement, kentucky, veterans, guide
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2016-09-01
Friday, 01 Apr 2016 06:09 PM
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