pension reform http://wfpl.org en Kentucky City Sues State Pension System Over Risky Investments http://wfpl.org/post/kentucky-city-sues-state-pension-system-over-risky-investments <div><span style="line-height: 1.5;">A Kentucky city is suing the state's public pension system over its investment of county employees' retirement money into "risky" hedge funds.&nbsp;</span><p></p><p></p></div><div>&nbsp;</div><div>An attorney for <a href="http://www.fortwright.com/">Ft. Wright</a>, a northern Kentucky city of 5,700, filed a class-action lawsuit Monday alleging that <a href="https://kyret.ky.gov/Pages/default.aspx">Kentucky Retirement Systems</a> improperly used money from one of its subsidiary funds to make investments that were illegal under state law.&nbsp;</p> Tue, 03 Jun 2014 22:23:45 +0000 Jonathan Meador 9482 at http://wfpl.org Kentucky City Sues State Pension System Over Risky Investments Councilwoman Marilyn Parker Declines Government Pension Benefits http://wfpl.org/post/councilwoman-marilyn-parker-declines-government-pension-benefits <p>Louisville Metro Councilwoman Marilyn Parker, R-18, is forgoing her government pension benefits, citing the lack of real reforms in the 2013 General Assembly.</p><p>By declining the benefits Parker is saving the city an estimated $8,500 annually and Metro Government will not have to contribute to the state pension system on her behalf.</p><p>Parker says the decisions is meant to send a message to state lawmakers, and alert taxpayers on how serious the pension problem is for Kentucky.</p><p>"It is an issue that deeply concerns me for our state and city budgets. I'm concerned that we're not seeing a fix coming out of Frankfort," she says. "And as time goes on it is going our state and local budgets at risk and government at risk."</p><p> Tue, 05 Mar 2013 21:22:10 +0000 Phillip M. Bailey 4343 at http://wfpl.org Councilwoman Marilyn Parker Declines Government Pension Benefits Council GOP Lobbying State Lawmakers on Pension Reform http://wfpl.org/post/council-gop-lobbying-state-lawmakers-pension-reform <p>Republican leaders in the Louisville Metro Council are headed to Frankfort this week to lobby state lawmakers on pension reform.</p><p>The city’s pension cost has more than doubled in the past decade to make up approximately 15 percent of the budget.&nbsp; In his State of the City address, Mayor Greg Fischer urged residents to call for their legislators to take action in this year’s session to change the system.</p><p>Republican Caucus Chairman Ken Fleming, R-7, and Vice-Chairman Jerry Miller, R-19, are scheduled to meet with Republican state Sen. Damon Thayer of Georgetown, who co-chaired a legislative task force on the state pension system.</p><p>Miller says rising pension costs are at critical stage and are extremely important for Louisville residents because of the potential impact on city services.</p><p>"If you’re in government you have to deal with pension cost because of it’s dramatic increase, which is really crowding out a lot of other things we’d like to do—social services and a variety of other things," he says.</p><p> Tue, 29 Jan 2013 19:05:27 +0000 Phillip M. Bailey 3680 at http://wfpl.org Council GOP Lobbying State Lawmakers on Pension Reform