TOPEKA (AP) – A study commission is recommending that Kansas contribute an additional $189 million next year to pensions for teachers and government workers.
The proposal endorsed by the commission Thursday is an attempt to close a long-term funding gap for the Kansas Public Employees Retirement System more quickly than previously planned. That gap is projected at $8.3 billion.
The law setting up the study commission this year already has committed the state to increasing its annual contributions to KPERS. But it ramps up those increases over the next five years.
Under current law, the state’s contribution to KPERS would go from $392 million under the current budget to $432 million for the budget year beginning July 1. The commission’s plan would bump next year’s amount to more than $620 million.
