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Court Upholds Governor Bevin’s Authority to Reorganize Pension Board

Court Upholds Governor Bevin’s Authority to Reorganize Pension Board

Bill Stephens

August 23rd, 2016

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NEWS RELEASE

FRANKFORT, Ky. (Aug. 22, 2016) – The following is a statement from the Office of the Governor:

“We are pleased the court has recognized Gov. Matt Bevin’s authority to reorganize the KRS board under KRS 12.028. The new transparency provisions and board members with substantial investment experience are critical to turning around the nation’s worst funded pension plan.

“While we disagree with the court’s decision to allow Mr. Elliott to serve on the board to which he was never appointed, we are confident the court of appeals will reaffirm that Mr. Elliot is not a member of the new KRS board.

“Under Tommy Elliott’s chairmanship the KRS had an abysmal investment track record and operated under a shroud of secrecy.

“Gov. Bevin will continue fighting to protect the pensions of state workers and bring transparency to state government. Attorney General Andy Beshear should drop his politically-motivated lawsuits and stop his efforts to fight transparency and protect the status quo. Our state workers and retirees deserve better.”

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