After promising more transparency in its expenses, Kentucky's pension plan for public employees has reported investment fees that are more than double what's been previously made public.
According to WFPL's Kentucky Center for Investigative Reporting in Louisville, the Kentucky Retirement Systems Board of Trustees made the disclosure last week in a meeting.
A memo to board members said the agency revised the amount it paid to outside investment firms as part of a "proactive transparency change."
KRS Chief Investment Officer David Peden said the system's net income was not affected.
WFPL reports the numbers give the nearly 350,000 public employees and retirees that depend on the pension system a better idea of how much the board pays to firms to invest about $16 billion in assets.
