Kansas lawmakers negotiating on plan to issue pension bonds UPDATE

TOPEKA, Kan. (AP) — The chairmen of the Kansas Legislature’s pensions committees say a proposal to issue $1 billion or more in bonds doesn’t represent the state backing off commitments to properly fund public pensions in the long-term.

Republican Sen. Jeff King of Independence and GOP Rep. Steve Johnson of Assaria said Monday that the state has an opportunity to improve the short-term financial health of the Kansas Public Employees Retirement System.

Supporters of the idea say KPERS would get an immediate infusion of funds and the earnings from investing the dollars would more than cover bond payments.

Critics see the move as risky and worry that it would delay efforts to erase a long-term KPERS funding gap.

The House and Senate began negotiations Monday over the final version of a bonding bill.

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TOPEKA, Kan. (AP) — Kansas legislators are starting to hash out a plan for issuing $1 billion or more in bonds to shore up the short-term financial health of the pension system for teachers and government workers.

House and Senate negotiators met briefly Monday and planned to reconvene Tuesday.

Republican Gov. Sam Brownback has proposed $1.5 billion in bonds.

Supporters of the idea say the Kansas Public Employees Retirement System would get an immediate infusion of funds and the earnings from investing the money would more than cover bond payments.

The move also could lower the state’s annual payments to KPERS in the short-term.

Critics see issuing bonds as risky.

The House passed a bill last week authorizing $1.5 billion in bonds. The Senate passed a measure last month for $1 billion in bonds.

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TOPEKA, Kan. (AP) — Kansas legislators are working on the final version of a bill allowing the state to issue $1 billion or more in bonds to shore up the short-term financial health of its pension system for teachers and government workers.

House and Senate negotiators planned to meet Monday.

Republican Gov. Sam Brownback has proposed issuing $1.5 billion in bonds.

Supporters of the idea say the Kansas Public Employees Retirement System will get an immediate infusion of funds and believe the earnings from investing the money will more than cover bond payments.

The move also would allow the state to lower its annual payments to KPERS in the short-term.

The House passed a bill last week authorizing $1.5 billion in bonds. The Senate passed a measure last month for $1 billion in bonds.