TOPEKA, Kan. (AP) _ The Kansas Senate's leading advocate of starting a 401(k)-style pension plan for new teachers and government workers says he'll push fellow senators to endorse the idea.
Sen. Jeff King, an Independence Republican, says he'll offer such a proposal during Thursday's debate on legislation designed to bolster the long-term financial health of the Kansas Public Employees Retirement System.
The pension system projects an $8.3 billion gap between its anticipated revenues and the benefits promised to public employees through 2033.
The bill before the Senate would require new hires to join a plan that's not a traditional one guaranteeing benefits up front based on their salaries and years of service. But it's also not a 401(k)-style plan, in which benefits are tied to investment earnings.
Viewers with disabilities can get assistance accessing this station's FCC Public Inspection File by contacting the station with the information listed below. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, 888-835-5322 (TTY), or email@example.com.