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Financials

Kentucky's governor abolishes state pension system administration

NEW YORK, June 17 (Reuters) - Matthew Bevin, the Republican Governor of Kentucky, issued an executive order on Friday abolishing and immediately reorganizing the administration of the state’s underfunded public pension system.

The order abolishes the Kentucky Retirement Systems Board of Trustees and immediately creates the Kentucky Retirement Systems Board of Directors, which Bevin said would include more investment expertise among its expanded membership.

Reporting By Daniel Bases; Editing by Diane Craft

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