An update on the Mayberry pension litigation and a reminder that:
•KPPA investigative report still hidden•
"The board of the Kentucky Public Pensions Authority — the new name of the restructured Kentucky Retirement Systems — voted last month to not intervene in the lawsuit, just as it chose to do in the original lawsuit.
"Late last year, the KPPA signed a $1.2 million contract with New York law firm Calcaterra Pollack to complete an investigative report into any 'improper or illegal activities' related to its past investments.
"This report was completed and delivered to the attorney general's office last month, shortly before the vote to not intervene in the pension lawsuit.
"The KPPA and attorney general's office have both denied open records requests from The Courier Journal for a copy of the Calcaterra report, arguing it is exempt from the Kentucky Open Records Act because it's a "preliminary draft" and protected by attorney-client privilege.
"Two of the hedge fund defendants in the pension litigation have sued KPPA in other states, alleging the pension system breached their contracts by supporting the original lawsuit. Those lawsuits are ongoing."
While other states and states' officials push for public pension accountability, Kentucky and its officials are content to hide behind specious claims of statutory exemption and privilege.
