Pension move described as 1-time Kansas budget fix
Associated Press - December 20, 2014 2:10 pm
Gov. Sam Brownback’s budget director says Brownback doesn’t plan to divert funds from the state’s public pension system again to help close budget shortfalls.
Budget Director Shawn Sullivan told a legislative committee Friday that the diversion of nearly $41 million from the pension system for teachers and government workers to general government programs is a one-time event.
The Republican governor diverted the money to help close a projected $279 million shortfall in the current budget. The state also faces a $436 million gap in its budget for the fiscal year beginning in July.
The diversion sparked bipartisan criticism because the pension system’s benefits are only 60 percent funded through 2033. A 2012 law boosted contributions by both the state and workers to ensure that the system becomes fully funded.