Kentucky Retirement System's Secret Investments
About 340,000 state, city, & county workers and retirees are part of the Kentucky Retirement Systems. The KRS is responsible for $15.7 billion of pension-holder money and is one of the more under-performing pension funds in the U.S.
It has a $17.6 billion shortfall as of mid-2013. It's also one of the least transparent. State law exempts KRS investments from open records laws, so if you're one of the 340,000 who wants to know where your money's going, you're out of luck.
That lack of transparency is the subject of an article published last week by the Kentucky Center for Investigative Reporting. Its author, James McNair, speaks with Todd Hatton to bring some clarity.