KPERS Faces Growing Unfunded Liabilities in Kansas
Kansas lawmakers weigh long term fixes for KPERS the $12.2 billion state retirement system with 250000 members. The unfunded liability rose from $4.7B in 2004 to $5.1B in 2005 driven largely by school contributions. Experts warn of higher future costs and potential funding gaps if investment downturns recur.
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KPERS
Glenn Deck
Deck
Mike Yoder
Journal-World Photo
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Tiana Daniels
Burnett
Kansas Public Employees Retirement System
KPERS weighs new retirement plan for future public workers
WHAT'S NEXT EPERS eyes a new retirement plan for future public employees similar to Senate Bill 281. The bill would offer a basic defined benefit and an optional defined contribution plan like a 401(k). KPERS officials will present Friday to the KPERS board, then to a House Senate pensions committee. The Sept 26 committee vote could launch a KPERS bill for January's session.
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West Junior High School
Harvard Road
Burnett
Deck
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Epers
Senate
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Kslegislature.org
Kansas KPERS debate highlights proposed fixes and views
Gov Kathleen Sebelius cites two steps to balance KPERS a 500 million pension obligation bond and higher annual state employer contributions. She says future retirement plan changes would be reviewed upon proposal. Sen Jim Barnett argues for addressing the unfunded liability while limiting tax increases and aging the retirement system for new hires possibly via a 401 k style plan.
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Kathleen Sebelius
KPERS
Sebelius
Jim Barnett
Kansas
Barnett
Staff writer contact line appears in report
Staff writer Scott Rothschild can be reached at 785 354 4222 for follow up.
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Scott Rothschild
Former fugitive Phillips appears in Chemung court
Ralph Bucky Phillips, longtime fugitive on the FBI ten Most Wanted list, surrendered after a five month manhunt and faced eight counts in Chemung County court, including attempted murder. He did not enter a plea, arriving in an orange jumpsuit and flanked by guards.
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Ralph “Bucky” Phillips
Chautauqua County
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Chemung County
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