Comments on: Kentucky’s big pension mess Bridges, budgets, bonds Mon, 24 Nov 2014 00:29:08 +0000 hourly 1 By: Cate_Long Tue, 10 Jun 2014 17:03:21 +0000 The Kentucky Retirement Systems’ Board of Trustees will have plenty to discuss behind closed doors Wednesday, as recent legal actions could send shockwaves through the underfunded pension program. adlines/2014/06/07/legal-decision-could- leave-krs-with-huge-liability

By: Cate_Long Fri, 06 Jun 2014 13:43:34 +0000 Appealing a judge’s ruling that would allow Seven Counties Services to withdraw from Kentucky Retirement Systems ought to be a no-brainer for officials of the troubled pension program.

If the ruling goes unchallenged, dozens of other quasi-governmental organizations could follow the Louisville-area nonprofit mental health agency’s lead in trying to avoid rising pension costs by filing for Chapter 11 bankruptcy.

That would exacerbate the problems at KRS, which already has an unfunded liability in excess of $17 billion. An exodus also would undermine legislative efforts to strengthen the system

Read more here: 85/appeal-ruling-on-pension-system.html# storylink=cpy

By: Cate_Long Thu, 05 Jun 2014 11:36:46 +0000 Stivers said state’s pension funding might have to be adjusted as a plan B
06/04/2014 08:16 PM
by Ryan Alessi • @cn2Alessi • 1 Comments • Filed under: From Frankfort
Kentucky leaders need to come up with a plan B for the financially teetering Kentucky Employee Retirement System if a bankruptcy court decision stands that allows a mental health center to leave the fund, said the Senate president Wednesday.

Senate President Robert Stivers said it’s too early to say whether the General Assembly will have to kick in more money to shore up the fund, which covers pension benefits for more than 200,000 workers, including state employees. For one thing, Stivers said, he’s been in contact with the governor’s office and House Speaker Greg Stumbo’s office about whether the bankruptcy judge’s decision should be appealed. tate-s-pension-funding-might-have-to-be- adjusted-as-a-plan-b

By: Cate_Long Thu, 05 Jun 2014 04:57:30 +0000 “Maybe Our KRS Coverage Really Has Mattered” ybe-our-krs-coverage-really-has-mattered  /

Facebook page for Kentucky retirees: entRetirees?