TOPEKA, Kan. (AP) — Trustees of the Kansas Public Employees Retirement System are postponing an important decision until at least July.
The board had considered having a discussion at its meeting Friday about lowering the pension system's projections for long-term investment earnings.
KPERS currently assumes it will earn an average of 8 percent annually on its investments. Critics suggest the figure is too high, and the board reviews it every three years.
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KPERS executive director Glenn Deck said the board wants to first review a plan approved by legislators this year to address the system's long-term funding shortfall.
The projected gap is $7.7 billion between projected revenues and benefits promised to public employees through 2033. Lowering the assumption for investment earnings would increase the gap.
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