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Archive for Thursday, April 21, 2011

Kansas legislators to begin pension talks next week

April 21, 2011

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— Kansas legislators are beginning work next week on the final version of a bill dealing the long-term funding problems of the pension system for teachers and government workers.

Three House and three Senate negotiators are scheduled to meet Monday afternoon at the Statehouse.

They're supposed to reconcile the differences between the two chambers, which have passed different pension measures.

The Kansas Public Employees Retirement System projects a gap of $7.7 billion between anticipated revenues and the benefits it has promised over the next several decades.

Both bills boost the state's annual contribution to KPERS.

The Senate plan increases contributions by most public employees to KPERS, starting in 2013. The House plan decreases future benefits and establishes a 401(k)-style plan for employees hired after June 2013.

Comments

William Weissbeck 3 years, 8 months ago

A promise is a promise, unless it's made by a Republican.

Centerville 3 years, 8 months ago

It takes a lot of administrations to run up a $7.7 billion (and that's probably not all) pension deficit. Maybe this one can pull KPERS out of its dive.

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