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Archive for Monday, February 24, 2014

Kansas lawmakers staying course on public pensions

February 24, 2014

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— Kansas legislators don't appear enthusiastic this year about altering the course they've set in previous years for improving the long-term financial health of the state pension system.

The House Pensions and Benefits Committee rejected a bill Monday to create a 401(k)-style plan for teachers and public employees hired after 2015. The action came on a voice vote.

The committee rejected another bill to increase benefits for teachers and government workers who retired on or before July 1, 2009. It also failed on a voice vote.

Cost was an issue for both measures. The state pension system projects a $10.3 billion gap between anticipated revenues and its commitments to retirees through June 2033.

In 2011 and 2012, the state enacted laws that are expected to close the gap.

Comments

James Howlette 10 months ago

I suppose that's the one bright spot with their legislative sweetheart deal on KPERS. It's harder to screw over the teachers and firefighters when you're also screwing over yourself on that one.

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