By Todd Hatton
Murray, KY – Kentucky officials report losses to the state employee pension fund in recent stock market volatility weren't as severe as first thought. The Kentucky Retirement Systems financial portfolio fell from $11.4 billion to $10.9 billion, a $500 million decline, between June 30th and August 9th. That's according to a press statement distributed by Kentucky Retirement Systems spokeswoman Amy D. Fields on Wednesday. Last week, Kentucky Retirement Systems had calculated the losses for the period at $1.7 billion. That figure was inflated, according to the statement, because it was based on preliminary totals. Volatility in the financial markets had hit pension funds hard in several states, including California, which lost some $18 billion over the same period.