Kentucky Senate sends pension bill to Gov. Matt Bevin’s desk
FRANKFORT, Ky. (AP) – The Kentucky state Senate has agreed to make changes to three of the state’s public pension systems.
Senate Bill 2 would impact the Kentucky Retirement System, the Kentucky Teachers’ Retirement System and the Judicial Retirement System. It would require the governor to appoint people with investment experience to the various pension governing boards. And each appointment by the governor would have to be first be confirmed by the state Senate.
The bill also requires the systems to post more detailed financial information for the public, including fees and commissions paid to investment managers.
Kentucky has one of the worst funded public pension systems in the country. The bill now heads to Republican Gov. Matt Bevin’s desk.