SamCrow (Sam Crow)

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Kansas Legislature narrowly passes unbalanced budget, ending 2016 session

KPERS has assets of 16.584 billion dollars invested. The average return for the last five years was 11.7%. That is an average annual return on investments of 1.94 billion dollars.

The 92 million dollars delay is but one half of one percent of the total assets of KPERS.

Elderly retired school teachers will be fine.

May 2, 2016 at 8:52 p.m. ( | suggest removal )

Kansas tax collections in April good news after budget plan

Then there are people such as myself that owe substantial sums of additional taxes that filed an extension. We have not even paid ours yet, delaying it as long a possible.

May 2, 2016 at 8:45 p.m. ( | suggest removal )

Kansas lawmakers approve 'step therapy' and welfare reform bill

Step therapy is mandatory protocol throughout the Veterans Administration Hospital system.

Step therapy is used in by all 12 Medicare Administrative Contractors across the country, in one form or another, usually differentiated by drug class.

The Pharmacy Benefit Management Institute found that 56% of private employers had commercial insurance programs that uses step therapy.

The Pennsylvania Medicaid program uses a broad step therapy program. Some other states, including Florida, Indiana, Michigan and New York, were pioneers in instituting step therapy programs for Medicaid.

In 2003 California passed legislation for its DHS to establish step therapy for commercial insurers. Vermont, Maine and Louisiana are among states that have similar step therapy laws for private commercial insurers.

Step therapy for Kansas Medicaid is not innovative.

May 2, 2016 at 8:41 p.m. ( | suggest removal )

Kansas lawmakers grill Brownback administration over possible budget cuts

There is one other group that does not pay their fair share of 4.6% state income tax on retirement pay.

The military retirement pay received by 25,000 Kansans is also exempt from state taxes.

It is estimated that is another 1.2 Billion dollars that are not taxed in the state. At a rate of 4.6%, that is an additional 50 million dollars that is given up for political reasons.

April 22, 2016 at 5:51 p.m. ( | suggest removal )

Kansas lawmakers grill Brownback administration over possible budget cuts

Yes KPERS eligible employee contributions are paid with taxable income. I never disputed that.

People retiring today with KPERS after 30 years, paid a mere 4% of income when they started at the much lower income. KPERS says those dollars are retrurned in 3.5 years of retirement pay.

I am referring to employer contributions and investment gains in the plan not being taxed for state income.

You can try to justify KPERS retirees not paying their fair share of state income taxes, but it falls on deaf ears of those that understand finance.

It is strictly political. Remember, state legislators are covered with an even better KPERS plan. Do you think they are going to raise their own taxes ?

April 22, 2016 at 5:43 p.m. ( | suggest removal )

Kansas lawmakers grill Brownback administration over possible budget cuts

Apparently you didn’t bother to read what I wrote above:

“They are taxed on their contributions at the time. Much like Social Security.”

So I am very well aware, from a personal level, that KPERS participants pay 6% on a post-tax basis. Those employee contributions are gone in 3.5 years, according to KPERS data.

It is the employer (taxpayer) contribution and investment returns that KPERS retirees do not pay their fair share of taxes on.

Do you realize that federal employees pay 7% into their retirement plan, yet pay a fair share 4.6% on retirement pay in state income tax?

Many private defined benefit retirement plans also have employees contribute a percentage of their income into the plan. Some trade union plans included. Yet they pay their fair share 4.6% of retirements pay in state income tax.

I don’t hate public employees. I disagree with hypocrites that want everyone but themselves to pay taxes.

April 22, 2016 at 5:31 p.m. ( | suggest removal )

Kansas lawmakers grill Brownback administration over possible budget cuts

Again, KPERS employee contributions are taxed when earned.

But KPERS retirees get back those contributions, plus interest, in 3.5 years according to KPERS data.

But what about the rest of the money that comes from the taxpayers and investment gains.?

April 22, 2016 at 12:05 p.m. ( | suggest removal )

Kansas lawmakers grill Brownback administration over possible budget cuts

Blatantly incorrect.

They are taxed on their contributions at the time. Much like Social Security. Yet people pay taxes on social security income.

It is the reason taxes are not paid after KPERS retirement on the personal contributions. Those taxes have already been paid. But again, according to KPERS, those personal contributions, with interest, are recouped in 3.5 years.

KPERS isn't remotely similar to a Roth. While KPERS is a defined benefit plan with employee contributions, Roth is totally self funded.

What is unfair is those those people that are unwilling to pay their fair share of taxes on retirement income, while expecting other to.

April 22, 2016 at 11:53 a.m. ( | suggest removal )

Kansas lawmakers grill Brownback administration over possible budget cuts

And let me explain something to you.

KPERS own documents note that, on average, KPERS retirees get all their personal contributions back, with interest, in about 3.5 years. After that, it is all on taxpayers dollars and returns on investments.

And, once again, those people that retire from Hallmark or the aircraft industry or Koch or any other other private company are also what you call “old and retired”. Yet they still pay their fair share on their retirement income.

Why are you unwilling to pay your fair share?

April 22, 2016 at 10:56 a.m. ( | suggest removal )

Kansas lawmakers grill Brownback administration over possible budget cuts

Those people from Hallmark or Boeing also paid their fair share while working for 30 years. Yet they continue to pay their fair share in retirement.

Why not KPERS people ? Did the services they receive discontinue with the magical number of 85 ?

April 22, 2016 at 9:53 a.m. ( | suggest removal )

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