The Political Bridge

AFSCME Report Recommends Best Practices for Public Pension Plans

Among the report's findings are the following positions on ethics for member of state retirement systems:

· Prohibition on Insider Trading

· State and/or Local Conflict of Interest Laws

· Avoidance of Appearance of Nepotism

· Limitation on Receipt of Gifts

· No-Contact Policy

· Disclosure of Communications

· Prohibition on Campaign Contributions

· (Pay-to-Play)

· Disclosure of Third-Party Relationships and Payments; Permanent Ban on Current or Former Board Members or Employees from Providing Placement Agent Services in Connection with the System

 

To read the report Download AFSCME-report-pension-best-practices

The Kentucky Retirement System's "Pension Millionaires"

The average pension for retired KY state workers(through the Kentucky Retirement System--KRS) is approximately $30,000 a year. There is an elite ggroup of people with political influence, that are “Pension Millionaires.”  Their pensions generate over $100,000 a year.  UL's Jim Ramsey is a member of this club (see below).

 Ever wonder how many Kentuckians are getting $100,000+ pensions.   KRS still wants to keep it secret but in California  judges are ruling it is public record.

http://www.mercurynews.com/crime-courts/ci_13601267?nclick_check=1#

 http://www.kentucky.com/news/state/story/980414.html#

UofL's Ramsey paid $1.9 million for retirement loss

MONEY PROVIDED BY FOUNDATION

By Ryan Alessi - [email protected]

The University of Louisville Foundation paid U of L President James R. Ramsey $1.9 million in 2007 to compensate him for state retirement benefits he forfeited, according to the foundation's most recent filing with the IRS.

Ramsey, who became president of Kentucky's second largest public university in 2002, had spent 17 years working for state government, including serving as state budget director under former Gov. Paul Patton between 1999 and 2002.