A proposal examined by a House committee would shift certified teachers — but not all school employees — from the modest tier 3 plan in the Kansas Public Employee Retirement System to the more robust tier 2 plan in KPERS.
The Kansas Senate voted to support a 50% increase in the lump-sum death payment for retirees in KPERS and elevation to 20% the maximum amount of the pension system’s portfolio tied to alternative private equity or infrastructure investments.
Thousands of retired public employees in Kansas have never seen an increase to their pension pay, and inflation is eating away the value of the those payments. Advocates argue the Legislature owes them a boost.
Trustees of the Kansas Public Employee Retirement System deferred Friday until at least next month a decision about lowering the assumed rate of return on pension investments below the current 7.75% target and dramatically inflating the system’s unfunded liability.
Screen capture/Kansas Reflector
Originally published by Kansas Reflector on March 6, 2021 TOPEKA — Kansas retiree advocate Ernie […]
