Workers suing over Kentucky's public pension shortfall allege firms and officials breached fiduciary duties. (Photo: Shutterstock)

State retirement system officials and three asset management firms are being sued by a group of Kentucky state workers as a result of the state having one of the country’s most underfunded pension funds.

U.S. News reports that the workers’ lawsuit says the firms and officials breached fiduciary duties by using high-risk, high-fee investments that yielded lackluster returns.

Complete your profile to continue reading and get FREE access to, part of your ALM digital membership.

Your access to unlimited content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and events.
  • Access to other award-winning ALM websites including and

Already have an account?

Dig Deeper


Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join now!

  • Unlimited access to - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including and
  • Exclusive discounts on and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2023 ALM Global, LLC. All Rights Reserved.