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Pension move described as 1-time Kansas budget fix

KSAL StaffDecember 20, 2014

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.

Copyright © Rocking M Media, 2020. All Rights Reserved. No part of this story may be reproduced without Rocking M Media’s express consent.

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