(AP) – A commission examining Kansas’ public pension system still must tackle the daunting issue of closing the system’s long-term funding gap

The task is likely to prove expensive no matter what emerges from its discussions.

The pensions study commission plans to consider drafting a proposal to start a 401(k)-style plan for new hires. Yet bolstering the long-term financial security of KPERS will require the commission and legislators to consider other ideas likely to cause heartburn.

The pension system projects a gap of nearly $8.3 billion between its anticipated revenues and the benefits promised to both retirees and current employees, through 2033. The commission plans to discuss committing even more state tax dollars to KPERS and issuing as much as $5 billion in bonds to eliminate the funding gap.