Kan. Gov. Backs Using Casino Funds On Pensions

By: AP, Posted by Chris Fisher
By: AP, Posted by Chris Fisher

TOPEKA, Kan. (AP) _ Kansas Gov. Sam Brownback has endorsed a
proposal to use revenues from state-owned casinos to bolster the
long-term financial health of the pension system for teachers and
government workers.

Brownback said in his most recent Statehouse news conference
that a measure to divert some casino revenues to the Kansas Public
Employees Retirement System would help keep the state's credit
ratings from slipping. The proposal has passed the House in a
larger bill aimed at shoring up KPERS.

The pension system projects an $8.3 billion shortfall between
anticipated revenues and retirement benefits promised to public
employees through 2033. Supporters think casinos could provide
several billion dollars for KPERS over that time.

Kansas has licensed developers to operate casinos in the Dodge
City, Kansas City and Wichita areas.


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