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Kan. Senate reviewing leader’s plan on pensions

TOPEKA, Kan. (AP) – The Kansas Senate is tackling long-term funding problems facing the pension system for teachers and state government workers.

The Senate’s debate calendar for Tuesday includes a bill increasing the state’s annual contribution to the Kansas Public Employees Retirement System, starting July 1, 2013.

The measure also would require most public employees to pay a larger percentage of their salaries into the pension fund, though many of would see a boost in benefits. The plan was drafted by Senate President Steve Morris, a Hugoton Republican. He and other Senate leaders are hoping the plan attracts bipartisan support.

KPERS faces a projected $7.7 billion gap between its anticipated long-term revenues and the benefits it has promised public
employees over the next few decades.

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