Ahead of an April 1 system overhaul, Steven Herbert has a ‘hundred actions’ he needs to perform.
The asset manager and former consultant is the sixth investment chief to head the fund in about 13 years. He starts Jan. 16.
At lowest funded US public pension fund, the same percentage of active worker payrolls will not net the same level of contributions as in the past.
The state’s full contribution led to a fourth straight year of higher funding levels, as the pension issue continues to roil the legislature.
Right now, the investment head can’t earn a salary above the governor’s $167,000, half what the chief could make elsewhere.
Legislation creates new panel of trustees for County Employees Retirement System.
Exclusive: Kentucky Retirement’s Executive Director Says Proposed Board Split Will Increase Taxpayer Burden
Citing under-representation in the current KRS board, the system puts forth legislation to establish its own panel.