The Kentucky Retirement Systems Board of Trustees approved a new investment approach for CERS that pulls away from growth funds, even though they have outperformed fixed income funds over the past five years. They also talked about a study that's underway into assumption rates for all KRS plans.
KLC responded to a letter the governor's budget director sent to city officials warning that a lawsuit seeking to invalidate the state's new pension law poses a threat to the law providing a phase-in of CERS employer contribution rates.
The first meeting of the Interim Joint Committee on Transportation brought a dire message from the Secretary of the Kentucky Transportation Cabinet. He outlined a five-year forecast that leaves a lot of projects underfunded if the state doesn't act to change the way transportation infrastructure is paid for in Kentucky.
The Public Pension Oversight Board held its first meeting Monday since the end of the 2018 Regular Session. Chairman Joe Bowen reported that efforts are underway to form the subcommittee, required by law, to study the possibility of separating the County Employees Retirement System from Kentucky Retirement Systems.
House Bill 324, sponsored by Representative Diane Murray St Onge, was a KLC initiative that prohibits the use of a drone over a city's key infrastructure assets. Wednesday, Governor Matt Bevin held a ceremonial signing of the bill.
The Kentucky League of Cities joined dozens of other supporters and legislators Friday morning for the ceremonial signing of House Bill 400. The KLC-supported bill allows distilleries, small-farm wineries and retail package license holders to ship limited quantities of product directly to consumers.
Governor Bevin's general counsel had a letter delivered to Franklin Circuit Court Judge Phillip Shepherd on Wednesday that asked the judge to recuse himself from hearing the lawsuit filed against the governor and legislative leadership over the new pension law. The judge denied the request.
Kentuckyâ€™s Work Matters Task Force released its recommendations for how the state can help people in at-risk groups find employment.
Governor Matt Bevin and others named in a lawsuit over the pension reform law were denied a request after a Monday morning court hearing. The judge says the defendants cannot depose the three agencies that filed the lawsuit.
The Kentucky Retirement Systems Investment Committee and its consultants talked Tuesday about taking a â€œsaferâ€ approach to investments, including those made for CERS. That decision came as new data was revealed that shows CERS continues to hit benchmarks and outperform the assumed rate of return.
Lawyers for Governor Matt Bevin argued in court Wednesday morning that Attorney General Andy Beshear was violating Rules of Professional Conduct by suing over Senate Bill 151, the pension reform bill. The judge ruled that was not the case and continued his vow to expedite the case.
House Speaker Pro Tem David Osborne filed a resolution calling for a bipartisan committee to investigate the costs and delays of KentuckyWired. The project was supposed to be up and running by this year, providing high speed internet to every county in the state.