KPERS Hits 60 Percent Funded Benchmark

By: AP
By: AP

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


Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus
631 SW Commerce Pl. Topeka, Kansas 66615 phone: 785-272-6397 fax: 785-272-1363 email: feedback@wibw.com
Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 267801401 - wibw.com/a?a=267801401
Gray Television, Inc.