Salina, KS

Now: 32 °

Currently: Cloudy

Hi: 38 ° | Lo: 22 °

Pension Funding Gap Jumps To $10.2B

KSAL StaffSeptember 5, 2013

the Kansas public pension system says it had robust investment gains last year but still saw its long-term funding gap grow to $10.2 billion.

The gap widened because the Kansas Public Employees Retirement System was still booking deferred losses from the 2008 collapse of financial markets.

A Kansas House committee reviewed the figures Wednesday.

The gap represents the difference between anticipated revenues and promised benefits through 2033. The figure for the end of 2011 was about $9.2 billion.

KPERS reported earning 14.5 percent on its investments last year. Also, legislators enacted laws in 2011 and 2012 to overhaul the pension system to boost its long-term financial health.

But the system’s assets would cover only 56 percent of its long-term commitments.

___

Associated Press information from: The Topeka Capital-Journal

Copyright © Rocking M Media, 2019. All Rights Reserved. No part of this story may be reproduced without Rocking M Media’s express consent.

CATEGORIES :

COMMENTS

RELATED POSTS

Changes Coming For Kansas License Buyers

December 2, 2017 10:15 am

Proposed Kansas Tyson Plant Paused

November 21, 2017 6:19 am



STAY IN TOUCH!

GET OUR APP!

LATEST POSTS

Zoo Mourning Loss of Oran...
December 14, 2019Comments
Salina Presbyterian Manor...
December 14, 2019Comments
Good Samaritan rescues Ab...
December 13, 2019Comments
Stolen Cadillac
December 13, 2019Comments

LATEST TWEETS

Read all tweets
© 2007 - 2019 - EEO  - KDJM  - KABI  - KSAL-AM  - KSAL-FM  - KVOB  - KYEZ  - KZUH