I've been waiting for a week to get information about the toxic mortgage-backed securities held by the $17 billion Kentucky Retirement Systems (KRS).
I specifically asked for the cost-basis of the mortgage-backed securities they hold and their current market value. This morning, after I asked again, I was told that the information is not available.
Poor investment returns combined with fiscal mismanagement by the General Assembly for more than 25 years have combined to create a $28 billion actuarial deficit in the state public employee benefits accounts.
