State Auditor Crit Luallen says she found no evidence of wrongdoing in an audit of the Kentucky Retirement Systems. But Luallen says the audit does raise several areas of concern. The audit primarily focused on the use of placement agents, who act as middlemen to secure investments from entities like KRS. Placement agents have been at the center of "pay-to-play" scandals in other states, but Luallen says that does not appear to be the case in Kentucky.

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KRS Audit Finds No Wrongdoing