Paying $171 million in management fees to lose 1 percent is an absolute rape of the Kentucky Teachers Retirement System.
A blind lobotomized monkey could have done better in this positive investment environment. I admit that I receive retirement funds from this source, so this scam is not acceptable.
Why am I not surprised that the judges’ and legislators’ fund made a decent return? It’s obvious that something is very wrong with management of the entire pension system. Yet, this newspapers continues to excoriate Gov. Matt Bevin when he tries to break up some of these oversight boards.