Judge Declines to Approve $227.5 Million Kentucky Pension Settlement

A Frankfort-based judge reviewing a proposed $227.5 million settlement between Kentucky’s retirement systems and four hedge funds accused of mismanaging the state’s money has punted on approving the deal, allowing for more negotiations in a years-long legal feud with huge financial implications.

In a May 12 opinion, Franklin Circuit Court Judge Thomas Wingate wrote the proposed settlement “asks the Court to make findings that are not possible or appropriate for the Court to make.”

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