State auditor to examine state retirement systems - wave3.com-Louisville News, Weather & Sports

State auditor to examine state retirement systems

LEXINGTON, KY (AP) - The Kentucky state auditor has begun a review of state pension agencies.

The Lexington Herald-Leaders reports Auditor Crit Luallen's office will examine the Kentucky Retirement Systems, including its Board of Trustees, employees, purchases, business practices and ethics policies. Auditors will also determine whether the system's audits and financial reports are adequate.

In a letter sent to retirement systems officials on Oct. 5, Luallen said the audit was prompted by complaints to her office about "certain activities and financial transactions."

The system covers 330,000 state employees and retirees.

The newspaper reported KRS board chairman Randy Overstreet was in Louisville on Wednesday and did not return reporters' phone calls seeking comment.

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