Saturday, August 28, 2010
Beshear Seeks Audit Of Kentucky Retirement Systems
KENTUCKY....
Kentucky Governor Steve Beshear has asked State Auditor Crit Luallen to examine the investment practices of the Kentucky Retirement Systems. Beshear sent a letter to the retirement system’s board recommending an outside audit to delve into the nearly $13 million in fees paid since 2004 to “placement agents,” the middlemen who bring private investment deals to the KRS, a public agency that provides benefits to state and county retirees. The board released an internal audit on August 12th that disclosed the names of placement agents and their fees but identified no serious problems.
# posted by Homer Owens @ 1:52 AM 
