pension

Kentucky Retirement Systems (kyret.ky.gov)

A western Kentucky dermatologist selected to replace a state pension board’s chairman has declined Governor Matt Bevin’s appointment. William Smith of Madisonville informed the governor in a letter that after careful consideration he decided to respectfully decline the appointment.

Kentucky Retirement Systems (kyret.ky.gov)

Governor Matt Bevin appointed a Madisonville dermatologist to the Kentucky Retirement Systems Board of Trustees Friday. William F. Smith, M.D. replaces Thomas K. Elliott.

Bevin removed Elliott earlier this week seeking “a fresh start” to for the beleaguered pension system.

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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. 

LRC Public Information

Significant public pension debt has led to consternation among state officials during the almost-completed General Assembly session. 

LRC Public Information

Lawmakers’ state-run retirement funds would be subject to open records requests under a bill that a House committee approved Wednesday morning.

The Illinois Supreme Court today struck down a recently passed law designed to fix the nation's worst funded public pension system, putting Illinois lawmakers and the state's new Republican governor back to square one as they try to solve a huge state budget crisis.

The law enacted in December 2013, would have eliminated annually occurring 3% cost of living increases in pension benefits. It also would have upped the retirement age for state workers and limited the amount of salary that could be used to calculate pensions.

Increase to Paducah Police/Firefighter Pension Pay-out Fails

Sep 3, 2014
paducahky.gov

An ordinance to increase payment from the Paducah Police and Firefighters’ Pension Fund by 2 percent to retirees did not pass at Tuesday night’s City Commission meeting. The ordinance failed by a 2 to 2 vote with one commissioner not present.

 Commissioners Carol Gault and Richard Abraham voted to approve the increase. Abraham says Paducah’s police and firefighters are among the most deserving of increased support from the city’s budget.

Beshear Pleased With Appeal in Seven Counties Case

Jun 12, 2014
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Kentucky Governor Steve Beshear says he is pleased with a decision by the Kentucky Retirement Systems to appeal a recent ruling that would allow quasi-governmental agencies to withdraw from the beleaguered public pension system.

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A group of Louisville teachers are planning to file a class-action lawsuit against the governor and leaders in the Kentucky General Assembly, claiming they violated the state's contract with teachers by deliberately underfunding teachers' retirement fund by billions of dollars.

Gov. Pat Quinn and Senate President John Cullerton have met to discuss the stalemate over a solution to Illinois' pension crisis, but House Speaker Michael Madigan didn't show up.

Aides to all three leaders had no details on Tuesday's roughly hour-long meeting in Quinn's Chicago office. Neither Cullerton nor Quinn addressed reporters.

Both the House and Senate remained deadlocked on a solution to the nearly $100 billion problem.

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