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Should CERS Join Forces With The KTRS?

January 8th, 2014 · No Comments

Louisville Metro Councilcritter Jerry Miller’s resolution calls for CERS to leave Kentucky Retirement Systems and go its own way.

Another option? Join forces with the Teachers Retirement System. More than a third of CERS members are non-teaching school employes, so it isn’t exactly a crazy notion.

In mid-December we wrote about KRS ballooning up with nearly $15 million in salaries. Meanwhile, the similarly sized KTRS paid just $6.3 million in salaries.

We’ve also written about KTRS outperforming in investments – 14% to 11% last year, or roughly $420 million in the last fiscal year alone. All while paying nearly half the fees to Wall Street. KRS spent $50 million, KTRS spent about $28 million.

Don’t worry – it’ll never happen.

Tags: Corruption · Flashback