HAS THE JUDICIAL RETIREMENT SYSTEM PLACED ALL OF ITS INVESTMENT EGGS IN ONE BASKET?
It has been reported to LawReader that the Judicial Retirement System is secretive, and there is a suggestion that the Judicial Retirement System has put all of its investment eggs in one basket.
We would invite comments from anyone who knows anything about the following statement.
”Kentucky Judicial and Legislative Retirement Systems have over $300 million but are one of the most secretive plans in the country . no competitive bidding for any services ever.
While the larger Kentucky Public Plans (KRS and KTRS) have over 50 investment managers from around the world Judicial & Legislative have one (Hilliard Lyons) from Kentucky
While KRS and KTRS managers trade through over 50 different brokers around the globe Judicial & Legislative have one (Lexington Investments)
While KRS and KTRS managers have independent investment consultants Judicial & Legislative have none.
Judicial & Legislative had enough clout to escape scrutiny under both recent Governors Pension studies.”