Lexington is playing host to the 32nd annual Kentucky Public Retirees meeting. A big crowd with a vested interested in the issue gathered Thursday.
The hotel conference room was full of former state workers including George Hoffman, who worked for three decades in state transportation. He's optimistic the legislature will continue to monitor pension fund issues. "I've got hope that they won't let it just crumble, because there are people that really depend on it," said Hoffman.
A Kentuckian known for decades of public service in state government was publicly sworn inFriday as the Commonwealth's Lieutenant Governor. A public oath of office ceremony was performed before a packed rotunda at the state capitol for Crit Luallen. In her address to the audience, Luallen paid homage to the state's founding fathers. "We are here to carry out the hopes of those who could only dream of what lay ahead for our state, but laid these stones and built the foundation of a state government that would serve every Kentuckian in every corner of the Commonwealth with quality and int
Lawmakers are promising legislation addressing issues raised in a state audit of the Kentucky Retirement Systems. The 118-page audit made 92 recommendations for strengthening Board of Trustees’ oversight and governance of the Kentucky Retirement Systems. The board manages investments of nearly $13 billion for 300,000 active and retired state workers. State Auditor Crit Luallen says the audit primarily focused on the use of placement agents, which she defined for House and Senate State Government Committee members.
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.