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.