Attorney General Andy Beshear says current retirement board is short in number of elected retirees
08/31/2016 05:06 PM
LOUISVILLE — Kentucky Attorney General Andy Beshear said that his lawsuit against Gov. Matt Bevin involving the makeup of the state of the Kentucky Retirement Systems’ board is not about politics, but rather the retirees having a seat at the table when it comes to how their pension dollars are managed.
Beshear, who made the comments at the FED UP! Overdose Awareness Rally in Louisville, said that it comes down to enforcing the law as far as the makeup on the board is concerned.
“Under law, that retirement board is supposed to be almost 50 percent of elected retirees,” Beshear said. “But with the changes that the governor has tried to make with the executive order, those elected retirees can be outvoted on any issue. They can even hold a meeting without them with the number of gubernatorial appointees. They can have a quorum.”
Beshear says he is trying to enforce the state Constitution and statutes, which were passed by the legislature.
Beshear says that current law states that retirees should make up nearly 50 percent of the board so they can have a real stake in the decisions that the board makes.
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