Senate To Vote On Pension Bill

By: Associated Press
By: Associated Press

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Thursday, May 17, 2012

The Kansas Senate is preparing to vote on a bill designed to bolster the long-term financial health of the state pension system for teachers and government workers.

The measure on the Senate's agenda Thursday is a compromise drafted by negotiators who settled differences between the two chambers. If the House also approves it, the plan will go to Gov. Sam Brownback.

The compromise includes a plan to use casino revenues to bolster the long-term financial health of the Kansas Public Employees Retirement System.

The legislation also includes a new retirement plan for public employees hired after 2014. The proposal calls for moving away from
traditional plans guaranteeing retirement benefits based on a worker's salary and years of service. But the new plan also isn't a
401(k)-style plan.

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