TOPEKA, Kan. (AP) — Kansas would issue $1.5 billion in bonds toimprove the short-term financial health of its pension system forteachers and government workers under a bill receiving first-roundapproval Tuesday in the state House.
The measure would allow the state to inject a big dose of newdollars into the Kansas Public Employees Retirement System so thatits assets would cover more of its long-term obligations to provideretirement benefits to workers. Also, supporters believe that thestate's annual contribution of tax dollars to keep KPERSfinancially 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 expectedto take a final action on the bill by Wednesday, and passage thenwould send the measure to the Senate.
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