Kentucky Retirement

Government
9:27 am
Fri August 22, 2014

Kentucky Retirement Systems to Get $23 Million in Big Bank of America Settlement

Credit Kentucky Retirement Systems

 

Bank of America has agreed to pay $23 million in restitution to Kentucky Retirement Systems over fraudulent mortgage-backed securities that fueled the 2008 financial crash. 

The agreement is part of a $16.65 billion settlement with six states attorneys general, which the U.S. Department of Justice announced in a news conference Thursday.

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Government
3:00 pm
Thu August 21, 2014

Bank of America to Pay $23 Million to KRS

Tommy Elliot, chairman of the Board of Trustees, and Executive Director Bill Thielen listen to a presentation during the meeting of Kentucky Retirement Systems on May 15, 2014.
Credit Credit Alix Mattingly / WFPL

Bank of America has agreed to pay $23 million in restitution to Kentucky Retirement Systems over fraudulent mortgage-backed securities that fueled the 2008 financial crash.

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Government
6:36 am
Tue May 20, 2014

Fitch Names KRS Pension Worst-Funded in Nation

Kentucky's employee pension has been rated among the worst in the nation.
Credit iStockPhoto

Global credit agency Fitch Ratings has named one of Kentucky’s pensions the worst in the nation. The non-hazardous pension under the Kentucky Employee Retirement System has about a quarter of the money it would need to pay out what will be owed to pensioners. 

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Government
5:37 pm
Sat February 9, 2013

KY Lawmakers Meet With Public to Discuss Pension Problems

Credit John Walker

Lawmakers and citizens met this weekend in Murray State’s Wrather Auditorium to discuss Kentucky’s ongoing pension crises. Cameron Smith of the Alabama Policy Institute gave a presentation explaining Kentucky’s current pension problems while lawmakers answered questions. Smith said it’s important for the state to keep its promises.

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Government
1:57 pm
Thu July 19, 2012

Think Tank Refutes Needs to Cut State Pension Benefits

iStockPhoto

A relatively new economic think tank in Kentucky has released a report that pushes back on calls to cut the state's pension benefits. 

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