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Taxpayers benefit as Kentucky public pensions grow


(The Center Square) – Kentucky lawmakers received an update this week on the state of several public pension programs during a meeting of the Public Pension Oversight Advisory Board.
The Kentucky Teacher Retirement System (TRS) reported growth of 3.44% on its investments for the quarter. While that fell below the benchmark of 3.75%, it still ranked among the top half of gainers across the country, according to Beau Barnes, the TRS deputy executive secretary and general counsel.
Barnes, according to a release from the Kentucky House Majority Caucus, told the board that private equity investments performed well. However, international investments faltered as the TRS portfolio focused on growth stocks. ....

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Why Some Public Pensions Could Soon Look Much Worse


Why Some Public Pensions Could Soon Look Much Worse
A
Governing analysis shows how a new accounting rule dramatically changes some plans pension liabilities and will likely force many states to finally face their obligations.
March 13, 2015 • 
Standing in a crowded hallway outside a committee room in the Kentucky State Capitol, House Speaker Greg Stumbo is surrounded by thankful teachers and skeptical reporters. It is mid-February and the committee has just approved his proposal to borrow $3.3 billion to shore up the state’s teacher retirement system. Stumbo has argued that current, historically low interest rates are a window of opportunity to solidify funding for the troubled system. But, notes one reporter, borrowing $3.3 billion would be a challenge since it would be the largest bond offering in Kentucky’s history.  ....

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