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Kansas House Debates, Gives Preliminary Approval to KPERS Overhaul Bill

KPERS building in Topeka. (Photo by Stephen Koranda)

A bill that would overhaul the Kansas Public Employees Retirement System, or KPERS, has been given first-round approval in the Kansas House. The plan currently offers a traditional pension, with retirement benefits based on salary and years of service.  The bill would change KPERS to an investment plan offering workers a guaranteed 5 percent return. Lawmakers also added a second option, a 401(k)-style plan, where workers manage their own retirement investments. Representative Gene Suellentrop (SULLEN-trop), a Wichita Republican, supported the 401(k) provision.

Lawmakers also added an amendment to use gaming revenue to help pay down the $8 billion deficit KPERS is facing. Final action on the bill could come tomorrow (TUE).


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