Kentucky Teachers' Life Insurance Plan is a public pension fund based in Frankfort, Kentucky. Effective June 30, 2000, the Teachers' Retirement System provides a life insurance benefit for its members who are retired for service or disability. This life insurance benefit shall be payable upon the death of a member retired for service or disability to the member's estate or to a party designated by the member on a form prescribed by the retirement system. The plan also provides benefits to its active contributing members. This life insurance benefit shall be payable upon the death of an active contributing member to the member's estate or to a party designated by the member on a form prescribed by the retirement system. The assets of the pension fund are managed by the executive management team.