Kansas Proposal For $1.5 Billion In Pension Bonds Advances

By: Associated Press
By: Associated Press

Stay up-to-date with KAKE News:

Tuesday, March 26, 2013

Kansas House members have given first-round approval to a bill authorizing $1.5 billion in bonds to boost the financial health of the state pension system for teachers and government workers.

The bill advanced Tuesday on a voice vote. House members expected to take final action on the bill by Wednesday, when passage would send it to the Senate.

The bill follows two years of legislation overhauling the Kansas Public Employees Retirement System to eliminate a projected $9.3 billion gap between anticipated revenues and benefits promised to public employees through 2033.

Supporters contend that injecting bond proceeds into KPERS will accelerate the pace at which the gap closes. But critics say the state is gambling that KPERS investment earnings will outstrip what the state pays on the bonds.

Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus
KAKE TV 1500 N. West Street Wichita, KS 67203-1323 (316) 943-4221
Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 200086511 - kake.com/a?a=200086511
Gray Television, Inc.