George “Lisle” Cheatham II succeeds Betty Pendergrass, who had been CERS Board Chair since 2021, J. Michael Foster elected CERS Vice-Chair. Lynn Hampton and C. Prewitt Lane continue their roles as KRS Chair and Vice Chair, respectively. Jerry Powell becomes chair and Keith Peercy vice chair on the KPPA Board.
FRANKFORT, KY – George “Lisle” Cheatham II was selected as the new Chair of the Board of the County Employees Retirement System (CERS) at the Board’s Annual Meeting on April 8. He succeeds Betty Pendergrass, who had served as the CERS Board Chair since 2021, when legislation passed by the General Assembly took effect that separated the governance of CERS from the Kentucky Employees Retirement System (KERS) and the State Police Retirement System (SPRS).
Mr. Cheatham was appointed to the CERS Board by Governor Andy Beshear in 2021. He was nominated for appointment by the Kentucky School Boards Association. Mr. Cheatham was elected CERS Vice Chair in 2023. He is also a member of the CERS Investment, Finance, and Personnel committees.
Mr. Cheatham is president and a founding member of American Financial Consultants, Inc., a Kentucky-based financial services firm. He earned degrees in Economics and Political Science from the University of Kentucky. He holds a Certified Financial Fiduciary® designation through the National Association of Certified Financial Fiduciaries. He also served as the mayor of Greensburg, Ky., for 16 years and was a member of the Kentucky League of Cities (KLC) Board of Directors for more than 14 years.
J. Michael Foster is the managing member of the Hopkinsville, Ky., law firm Foster, Soyars, & Associates PLLC. Prior to that he served as Christian County Attorney for 43 years. During his time as County Attorney, he served as President of the Kentucky County Attorney Association, as well as the Kentucky Association of Counties (KACo). He was appointed by Governor Andy Beshear in 2021. He was nominated by KACo.
Ms. Hampton and Mr. Lane were re-elected as Chair and Vice Chair, respectively, of the Kentucky Retirement Systems (KRS) Board at its annual meeting on April 9. The KRS Board oversees the KERS and SPRS pension and insurance trusts.
Ms. Hampton spent 23 years with the Metropolitan Washington Airports Authority (MWAA), which manages Ronald Reagan Washington National Airport and Washington Dulles International Airport. She was appointed president of the MWAA in 2010. She returned to Kentucky in 2019 when she retired and founded Lynn Hampton Associates to provide financial consulting services to national and international airports. She was appointed to the KRS Board in 2022 by Governor Beshear.
Mr. Lane is a self-employed financial consultant to several banks, insurance companies, and law firms. Prior to retiring in 2017, he had 40 years of experience in financial services. He was appointed to the board by former Governor Bevin in 2019. Mr. Lane serves as the chair of the KRS Investment Committee.
As of June 30, 2023, the CERS Board oversaw $17.2 billion in pension and insurance assetsin plans covering 277,371 active, inactive, and retired members. The KRS board oversaw $7.7 billion in pension and insurance assets covering 144,238 active, inactive, and retired state employees and state police officers.
The KPPA Board, which is composed of members from the CERS and KRS boards, elected officers at its annual meeting on April 25. CERS Board member Jerry Powell was elected chair of the KPPA Board and KRS Board member Keith Peercy was elected vice chair. The CERS and KRS boards agreed to alternate the chairmanship of the KPPA Board between the two systems. Mr. Powell and Mr. Peercy have essentially exchanged roles as chairs of the KPPA Board since its formation in 2021. This is Mr. Powell’s second time as the chair of the KPPA board.
Mr. Powell is one of three elected CERS Trustees. He was first elected in 2017. He has more than 37 years of law enforcement experience, including 15 years in supervisory roles. He is chair of the Joint Retiree Health Plan Committee and has been a member of the CERS Investment Committee, the Joint Administrative/Disability Appeals Committees, and the KPPA Ad Hoc Regulation Committee.
Mr. Peercy is a retired Kentucky State Police Lieutenant Colonel. He directed the Commercial Vehicle Enforcement Division after serving as a State Trooper for more than 20 years. He has represented the State Police Retirement System (SPRS) as an elected member of Kentucky Retirement Systems Board since 2015. He is a member of the Joint Administrative/Disability Advisory Committees, the Joint Retiree Health Plan Committee, and the KPPA Ad Hoc Regulation Committee.
For more information about the systems, and KPPA, visit the About section of the KPPA website.
The Kentucky Public Pensions Authority is responsible for the investment of funds and administration of pension and health insurance benefits for over 421,000 active and retired state and local government employees, state police officers, and nonteaching staff of local school boards and regional universities.
(David Eager, KPPA Executive Director)