Monday brought the Pension and Benefits committee meeting at 9am. We have had three weeks of testimony about the history of KPERS, how it got the way it is and now what will be done to bring it back to a funded level. For those of you who do not know, KPERS is about 9 Billion Dollars underfunded. To be brief, prior legislators many years ago were given some bad information actuarially. They made decisions with that information which leads us to where we are today. So, after all of the testimony we will be hearing bills now that will endeavor to bring KPERS back to an actuarially funded state. This may be one of the most important things done this year as we have to protect KPERS retirement system for the State and School employees. The rest of KPERS is funded. The Judges, Fire and Police KPERS funds are in pretty good shape. So, we will be working these bills as they come through the committee. Happy Tuesday from Topeka.
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