New data released Thursday at the Kentucky Retirement Systems Audit Committee shows CERS grew 6% in Fiscal Year 2018, despite seeing a decline in investment income from the previous fiscal year. The troubled KERS nonhazardous pension plan saw a $44 million loss. KLC believes separation of CERS from KRS is the best path forward to deal with management and administration concerns and ensure its continued growth.
Taylor Mill Mayor Dan Bell and Williamsburg Mayor Roddy Harrison have been appointed to the new 911 Services Board. It was formed after the governor signed House Bill 424, a KLC initiative to return local representatives to the board.
Supporters of House Bill 114 gathered at the Governor's Local Issues Conference for a ceremonial signing of the KLC-supported bill. Governor Matt Bevin told the crowd "I'd rather you'd control your own money."
Returns posted by the Kentucky Retirement Systems for the end of the fiscal year show investments were above benchmarks, but recent changes in asset allocations may drag its numbers down. KLC continues to believe CERS separation is the best path forward for the local pension system to ensure it is not hampered by administration and management concerns.
The state's highest court has set a September 20 hearing date for the governor's appeal to a Franklin Circuit Court ruling that invalidated the pension law, Senate Bill 151. The Kentucky Supreme Court will now decide if the law was passed legally.
The KLC Board of Directors has finalized its priorities for the 2019 legislative session with separation of the County Employees Retirement System (CERS), modernization of the road funding formula and flexibility and protection of the state's tax laws topping the list.
According to a new report from the Kentucky Office Of Drug Control Policy, the state recorded an 11.5 percent increase in overdose deaths in 2017. While heroin deaths declined, fentanyl and other drugs saw a spike.
Economists in charge of mapping out Kentucky's financial future met to discuss the possible impact of tax changes made in the 2018 session. Representatives of the Office of the State Budget Director and Kentucky Department of Revenue testified that it is hard to predict how the fiscal year will fare.
The city of Hopkinsville is getting help from the state as it expands broadband service. The Capital Projects and Bond Oversight Committee approved loans for the Hopkinsville Electric System for the next phase of a project that Mayor Carter Hendricks says is vital to ensure Hopkinsville becomes a Gig City.
Governor Bevin's general counsel filed a new motion in the pension lawsuit asking Franklin Circuit Court to alter, amend or vacate a June ruling that declares Senate Bill 151 invalid.
President Trump created the Federal Commission on School Safety after the Parkland, Florida shooting. On Tuesday, it came to Kentucky to hear from Governor Matt Bevin, legislators, law enforcement, the public and others on what the state is doing to try and curb the increase of violence in our schools.
PPOB co-chair Jerry Miller announced at a Monday afternoon meeting that members of a subcommittee to study CERS separation have been selected. That information came after testimony from the Kentucky Retirement Systems Board of Trustees Chairman its and Executive Director on a recent decision to adopt a new investment strategy for all plans, including CERS.
KLC Deputy Executive Director J.D. Chaney told a Kentucky Chamber of Commerce tax panel that cities are looking to the legislature to provide more options to fund the growing demand on city services. Representative Ken Fleming is heading up a new tax task force and hopes to have tax reform by 2020.
New tax laws that go into effect July 1, 2018, may have a significant impact on your city. We are continuing to gather information on what will fall under the new requirement for the 6 percent sales and use tax and on changes that need to be made to withholding due to the flat 5 percent state income tax rate.
From CERS separation to modernizing the road funding formula and limiting the peace officer powers of untrained constables, the KLC Board of Directors voted Thursday on a wide range of priorities for the 2019 legislative session.
he KLC Board of Directors named a record number of legislators as 2018 'Friend of Kentucky Cities' award winners. Eleven senators and 18 representatives will be honored this year for performing outstanding work advocating for issues that impact cities across the state.