2 Agencies Seek to Withdraw from State Pensions

By: Associated Press
By: Associated Press

FRANKFORT, Ky. (AP) — Two agencies are seeking to withdraw from the state's troubled pension system.

The Courier-Journal reports the quasi-governmental agencies Frontier Housing in Morehead and Housing Oriented Ministries Established for Service in Whitesburg filed the request last week in Franklin County Circuit Court.

The agencies argue in the complaint that they shouldn't have been allowed to join the County Employees' Retirement System more than 10 years ago. The system is facing more than $6.2 billion in unfunded liabilities.

Kentucky Retirement Systems Director William Thielen said Thursday that the agency would fight the matter in court.

At least two other organizations have also sought to leave the program.

(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)


WBKO.com is happy to provide a forum for commenting and discussion. Please respect and abide by the house rules:

Keep it clean, keep it civil, keep it truthful, stay on topic, be responsible, no links, share your knowledge, and please suggest removal of comments that violate these standards.

powered by Disqus
WBKO 2727 Russellville Road Bowling Green, KY 42101-3976 Phone: 270-781-1313 After Hours Hotline: 270-781-6397 Fax: 270-781-1814
Gray Television, Inc. - Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 225504022