T.J. CARLSON’S DEPARTURE A BLOW TO KRS We believe T.J. Carlson did an excellent job as chief investment officer for Kentucky Retirement Systems. We found him to be cooperative and willing to explain complex financial issues that we sought to understand in our mission to “pay attention to our pension.” His departure is a blow to KRS. We wonder whether he is a casualty of the new regime in which political appointees hold sway on the KRS board. T.J. had been working without an employment contract during his tenure at KRS, and in the spring, he proposed such an agreement. The board’s human resources committee examined the issue and recommended a contract to the full board. This was met with objections voiced mostly by the appointed members of the board who, while praising T.J.’s work, took issue with the terms (which were not publicly disclosed.) The matter was delayed indefinitely. Yet at its next regular meeting in August, the board didn’t even bring up the contract issue, at least in open session. We have no idea whether there had been any negotiations in the interim. This is a critical time for Kentucky Retirement Systems. Both the board and the management staff have seen upheaval in the past couple of years at a time when our KERS non-hazardous fund has plummeted in value. We didn’t need this. We will of course keep you apprised of the job search going forward. Will we as stakeholders have an opportunity to provide any input into the process or will it be secret? At any rate, we wish T.J. the best of luck in his new position.
Posted on: Wed, 16 Oct 2013 19:35:12 +0000
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