Kansas Proposal For $1.5B In Pension Bonds Advances

By: AP (Posted by Melissa Brunner)
By: AP (Posted by Melissa Brunner)

TOPEKA, Kan. (AP) _ The Kansas House has approved a bill authorizing $1.5 billion in bonds to improve the short-term financial health of its pension system for teachers and government workers.

The 73-49 vote sends the measure to the Senate.

The measure would allow the state to inject a big dose of new dollars into the Kansas Public Employees Retirement System so that its assets would cover more of its long-term obligations to provide retirement benefits to workers.

Also, supporters believe that the state's annual contribution of tax dollars to keep KPERS financially stable wouldn't have to grow as much as it would now, even with the bond payments.

But some House members questioned using debt to bolster the pension system.


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