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The Disastrous KRS Falls To 24% Funding Level

December 5th, 2012 · 3 Comments

At 11:00 A.M. today, Kentucky Retirement Systems reported that the KERS – the state’s largest fund for state employees – has the lowest funding ratio of any state plan in the entire country.

That’s a whopping 24.5%.

State officials, for some reason, weren’t aware of just how bad things are. We can chalk that up to a complete lack of transparency.

KRS resisted disclosing this level for a month.

Tags: Corruption · Wasted Money

3 responses so far ↓

  • 1 E // Dec 5, 2012 at 12:54 pm

    Vomit!
    Gee…maybe NOW the mainstream might get busy on this subject ?

  • 2 Wayne Fielder // Dec 5, 2012 at 12:59 pm

    Screw the media. Too much interest in college sports in this state for anything serious to ever be discussed. Only way this will be resolved is for Kentuckians to take over LRC and demand something be done about it. Who’s with me!? Yeah…thought so.

  • 3 Steve Magruder // Dec 5, 2012 at 1:40 pm

    I understand your sentiment Wayne. A lot.

    There’s actually very few citizens around who are interested in acting as, well, citizens. And I’m not pristine by any measure.