Kan. lawmakers to resume review of pension woes

AP News
|
Posted: Nov 12, 2009 10:53 AM

A panel of Kansas legislators meets next week to address the state pension system's long-term funding problems.

The Joint Committee on Pensions, Investments and Benefits is scheduled to meet Tuesday to discuss the Kansas Public Employees Retirement System.

A recent report by University of Kansas economists describes the pension system as "bankrupt."

KPERS officials, Gov. Mark Parkinson and some legislators say the description is inaccurate because retirees' current benefits aren't in danger.

But they acknowledge there's a big gap between the system's projected income and expenses over the next 25 years. At the end of last year, KPERS said the shortfall was $8.3 billion.