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KPERS Gap Widens

State Pension Plan Actuaries are reporting that the gap between the retirement benefits Kansas has promised to pay teachers and government workers and the money it will have to keep those promises widened to $8.3-billion in 2010.

The losses are due in large part to some lingering effects of nearly $3-billion lost to the Kansas Public Employees Retirement System in the 2008 Wall Street meltdown.

A special KPERS study commission begins work on July 22nd to try to find solutions to the program’s funding woes. The group was created in the last state legislative session and is mandated to look at a variety of ways to fix the system’s financial problems and to offer solutions to the 2012 Legislature.

Proposed reforms already include measures that would require teachers and governmental workers to increase the percentage of their paychecks that is contributed to KPERS and increased contributions from taxpayers who put up the share state and local government employees contribute.

About Mike Schrant

Mike is one of those guys who has spent nearly a lifetime trying to figure out what he wants to do when he grows up. He has split time as a broadcaster and educator having first worked in radio in the early 1970’s while attending junior college. The two careers are directly connected because many of the 25 years as an educator were spent teaching broadcast journalism at the high school and college levels. Mike is married and has three adult children (no grandchildren yet) and enjoys sports, debating politics, gardening, landscaping-hauling rocks, and swapping stories with the "good old boys".