TOPEKA, Kan. (AP) _ The state's pension system has been looking healthier thanks in part to investment gains and legislative changes that boosted employer and employee contributions.
Patrice Beckham, an actuary with the Cavanaugh Macdonald consulting firm, told the Kansas Public Employees Retirements System's Board of Trustees that the state's pension system has reached an important benchmark of 60 percent funded at the end of 2013.
The state's pension system improved in part because of a 17 percent investment return last year.
The Topeka Capital-Journal reports that KPERS was last above 60 percent funded in 2010. Beckham also said the pension system's projected debt dropped by almost $500 million in 2013, from about $10.3 billion to about $9.8 billion.
Posted by: Lindsay Sax
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