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Archive for Tuesday, October 13, 2009

KPERS problems to be reviewed in Tuesday hearing

October 13, 2009

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— Kansas legislators are examining the long-term funding problems faced by the state pension fund for teachers and government workers.

The House Appropriations Committee was to start its discussion Tuesday with a report from the University of Kansas about the Kansas Public Employees Retirement System. Report author Art Hall is scheduled to testify.

The report has raised eyebrows throughout state government for describing KPERS as "bankrupt" because of its long-term funding issues. Many state officials say the description is too harsh.

Late last year, KPERS projected the gap between its income and expenses over the next 25 years at $8.3 billion. However, KPERS officials say no current retirees' benefits are in danger.

Comments

ockhamsrazor 5 years, 2 months ago

Look a little closer...

The study (which was called a “KU study” in the press) came out of the Center for Applied Economics at KU. The center is funded by Koch Industries and under the direction of Art Hall, a former Koch executive. It was written by Barry Poulson, an extreme anti-government agitator from Colorado whose Taxpayer Bill of Rights (TABOR) limiting government spending in Colorado nearly destroyed their state services until the voters suspended it in an effort to save their roads, schools, and public safety budgets. So…it’s not a KU study; it’s a Koch study.

As for Art Hall, among his other efforts is “Proposition K,” a property tax limitation for Kansas modeled on California’s famed Proposition 13. Proposition 13 has had such a negative effect on the budget in California that it is a major contributor to the problems faced in closing their budget gap. Hall wrote Proposition K for the Flint Hills Center for Public Policy, a “think tank” looking for ways to starve the state budget here in Kansas. The Flint Hills Center is closely allied with Americans for Prosperity (AFP), a Washington, DC based “think tank” funded primarily through the Kochs that organized the anti-tax “tea parties” and is leading efforts to derail health care reform and global warming initiatives.

Poulson and Hall chose the word “bankrupt” for one purpose – to get media attention.

ralphralph 5 years, 2 months ago

So the term "bankrupt" was chosen for publicity ... is it inaccurate?

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