Local News Politics

Hit to Pension Fund Not as Severe as Expected

Kentucky is reporting that losses to the state employee pension fund in recent stock market volatility weren’t as severe as first thought.

The Kentucky Retirement Systems financial portfolio fell $500 million between June 30 and Aug. 9. Last week, KRS had calculated the losses for the period at $1.7 billion. That figure was inflated, according to a statement, because it was based on preliminary totals.

Volatility in the financial markets had hit pension funds hard in several states, including California, which lost some $18 billion over the same period.

From the Associated Press

State of Affairs

Understanding the Issues: The Kentucky Retirement System

Friday, May 15, 2009
Understanding the Issues: The Kentucky Retirement System
Pensions, pension reform, the budget, shortfall, special session, HB 1, what do these terms have in common? They’ve been used in combination over the past few years when talking about the retirement benefits for state employees. But what exactly is the pension system for Kentucky state employees? Who is covered and who is not? And who are the “players” with a stake in the system? Join us on Friday when we explore the ins, outs and issues of the Kentucky Retirement System.

Listen to the Show

Related Links: