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Kan. gov. signs bill addressing pension fund woes

Gov. Sam Brownback signed legislation Wednesday to bolster the long-term health of Kansas' public pension system.

By JOHN HANNA, AP Political Writer | Updated on May 26, 2011
Kansas Gov. Sam Brownback signs legislation attacking the long-term funding problems facing the state pension system. (AP Photo/John Hanna)

TOPEKA, Kan. (AP) — Gov. Sam Brownback signed legislation Wednesday to bolster the long-term health of Kansas’ public pension system, but he also said he’s hoping a study commission set up by the new law hashes out the details of moving the state toward a 401(k)-style plan for new teachers and government workers.

The new law will inject more taxpayer dollars into the Kansas Public Employees Retirement System to help close a projected $7.7 billion shortfall between its anticipated revenues and the benefits promised to public employees through 2033. Workers also will be forced to make concessions.

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