Kentucky Retirement

Kentucky Retirement Systems (kyret.ky.gov)

 

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.

Bank of America to Pay $23 Million to KRS

Aug 21, 2014
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.

Fitch Names KRS Pension Worst-Funded in Nation

May 20, 2014
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. 

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.

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.