Topeka Kansas isn't maintaining its long-term public pension obligations according to a report from the Pew Center for the States that was released Thursday.
The report found that nationally there was a a $1 trillion gap between what states have promised employees in retirement and what is on hand to pay.
“Our analysis found that many states shortchanged their pension plans in both good times and bad, and only a handful have set aside any meaningful funding for retiree health care and other non-pension benefits,” the report said.
Kansas was rated as below par.
Last year, the Kansas Public Employees Retirement System had a record unfunded actuarial liability of $8.3 billion. Glenn Deck, executive director of KPERS, has said that current retirement benefits are safe, but that the state needs a longterm strategy to reduce the liability.
Jane Carter, executive director of the Kansas Organization of State Employees, said the Pew report shows “the sheer neglect of our Legislature to make good on its commitment to the public retirees of Kansas.”
Carter said the state has failed to make adequate contributions to the system.