TOPEKA, Kan. (AP) — Kansas would issue $1.5 billion in bonds to improve the short-term financial health of its pension system for teachers and government workers under a bill receiving first-round approval Tuesday in the state House.
The measure would allow the state to inject a big dose of new dollars into the Kansas Public Employees Retirement System so that its assets would cover more of its long-term obligations to provide retirement benefits to workers. Also, supporters believe that the state's annual contribution of tax dollars to keep KPERS financially stable wouldn't have to grow as much as it would now, even with the bond payments.
House members advanced the bill on a voice vote. They expected to take a final action on the bill by Wednesday, and passage then would send the measure to the Senate.
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