Judge says he will issue ruling in retirement case Tuesday

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FRANKFORT, Ky. (AP) – The Kentucky Retirement Systems will decide how to invest millions of dollars in public money on the same day a state judge is expected to rule on whether the new board appointed by the governor that controls those investments has the authority to act.

Franklin Circuit Court Judge Phillip Shepherd says he plans to issue a ruling in the case on Tuesday. Meanwhile, the retirement system’s investment committee is scheduled to meet Tuesday to decide how to invest tens of millions of dollars.

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Republican Gov. Matt Bevin abolished the retirement systems board earlier this year and replaced it with a new board. Thomas Elliott, the chairman of the old board, and Democratic Attorney General Andy Beshear sued saying Beivn’s order was illegal.

 

Copyright 2016 The Associated Press.