WKYT - Morehead - Headlines

2 agencies seek to withdraw from state pensions

FRANKFORT, Ky. (AP) - Two agencies are seeking to withdraw from the state's troubled pension system.

The Courier-Journal (http://cjky.it/16NgAUK) reports the quasi-governmental agencies Frontier Housing in Morehead and Housing Oriented Ministries Established for Service in Whitesburg filed the request last week in Franklin County Circuit Court.

The agencies argue in the complaint that they shouldn't have been allowed to join the County Employees' Retirement System more than 10 years ago. The system is facing more than $6.2 billion in unfunded liabilities.

Kentucky Retirement Systems Director William Thielen said Thursday that the agency would fight the matter in court.

At least two other organizations have also sought to leave the program.


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