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.