kentucky retirement systems

Ryland Barton, WFPL

The latest legal challenge against Gov. Matt Bevin had its first hearing Thursday — Attorney General Andy Beshear is attempting to join a lawsuit contesting Bevin’s reorganization of the Kentucky Retirement Systems board, which manages retirement funds for state workers.

Rob Canning

Attorney General Andy Beshear is suing Gov. Matt Bevin for abolishing and then reinstating the boards of trustees of both the University of Louisville and Kentucky Retirement Systems, the state agency that manages the pensions of most state employees.

Kentucky Retirement Systems (kyret.ky.gov)

Attorney General Andy Beshear says the Kentucky Retirement Systems board has violated the state Open Meetings Law. 

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Seeking "a fresh start" Governor Matt Bevin is removing the chairman of the Kentucky Retirement Systems board of trustees. Bevin issued the executive order saying the board was opposed to transparency under the existing leadership. 

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A top state pension executive told legislators on Wednesday that a bill requiring greater transparency of the pension systems for Kentucky’s public employees would be harmful to his agency.

Kentucky Retirement Systems (kyret.ky.gov)

  Already home to one of the most underfunded public pension plans in the nation, Kentucky Retirement Systems is losing further ground through its investment choices.

Rob Canning

Matt Bevin, the Republican candidate for governor, said he isn’t worried about the use of “alternative investments” by the state’s troubled pension system for public workers.

Alternative investments make up about 35 percent of the Kentucky Retirement Systems fund’s assets. Managers of alternative investments generally require high fees for overseeing assets invested with hedge funds, oil and gas leases, timberland and leveraged buyouts.

http://401kcalculator.org / Flickr (Creative Commons License)

The Kentucky Retirement Systems billed Hopkins County more than $51,000 last month for so-called pension spiking, or artificially raising employees’ wages to increase their benefits, but county officials are disputing the matter.

Hopkins County Attorney Byron Hobgood said the Kentucky Retirement System bill is for a retiree who lost wages during a long medical leave and then received a pay increase the following year when he returned to work.

Kentucky Retirement Systems, which runs the $16 billion pension and health care funds for state, city and county workers and retirees, will be providing more detail about the fees it pays to the managers of its so-called “alternative” investments.

Talks Between 7 Counties, Lawmakers Come Up Short

Aug 29, 2014
Photo by Bud Craft, courtesy Ky Legislative Research Commission.

 

An attempt at mediation between state lawmakers and a Louisville mental health nonprofit over its bankruptcy has yielded little progress. Earlier this month, member of Seven Counties Services and a handful of state lawmakers met to discuss what, if any, deal could be reached over the nonprofit’s bankruptcy filing.

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