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The Disastrous KRS Falls To 24% Funding Level

December 5th, 2012 by jake · No Comments

At 11:00 A.M. today, Kentucky Retirement Systems reported that the KERS – the state’s largest fund for state employees – has the lowest funding ratio of any state plan in the entire country.

That’s a whopping 24.5%.

State officials, for some reason, weren’t aware of just how bad things are. We can chalk that up to a complete lack of transparency.

KRS resisted disclosing this level for a month.

Tags: Scandal · State Government · Transparency

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