KPERS

Stephen Koranda / Kansas Public Radio/File photo

Part of Gov. Sam Brownback’s budget proposal would delay payments into the state pension plan, KPERS. It would also take an additional 10 years to pay off a deficit in the retirement system.

Stephen Koranda / KPR

Officials with the state’s pension plan say the system's investments won’t be paying as much as they previously expected. That grows the long-term deficit in the Kansas Public Employees Retirement System and will make it more challenging to eliminate a shortfall.

Stephen Koranda / KPR/File photo

The election next week seems likely to shift the ideology of the Kansas Legislature. It appears there could be more Democrats and centrist-leaning Republicans. Stephen Koranda reports on how the governor and these new lawmakers might get along.

Gov. Sam Brownback told reporters this week that he would work with the new Kansas legislature, even if it’s ideologically different from now. Brownback points out how he worked with the previous moderate leadership in the Senate several years ago.

Stephen Koranda / Kansas Public Radio/File photo

The return on investments made by the Kansas Public Employees Retirement System hasn't consistently lived up to estimates, and it may lead KPERS officials to lower the forecast for the rate of return next month. As Stephen Koranda reports, lowering the forecast could have significant consequences.

Stephen Koranda / KPR

The Kansas employee pension plan has not been getting a very good return on its investments recently.

Stephen Koranda / KPR/File photo

For the second time in two years, a major ratings agency downgraded Kansas' credit rating Tuesday because of the state's budget problems.

From the AP:  

S&P Global Ratings dropped its rating for Kansas to "AA-," from AA, three months after putting the state on a negative credit watch. S&P also dropped the state's credit rating in August 2014.

Pew Charitable Trust

A report out this week from Pew Charitable Trusts found that unfunded pensions are the largest claim on future revenues in the state of Kansas.

The data set looks at the debt of all 50 states, the money owed into pension funds, and future money owed for retiree health care.

Using data from 2013, the report found Kansas has a $9.8 billion shortfall between the benefits promised to teachers and government workers and the savings available to meet those obligations.

Stephen Koranda / KPR

Kansas lawmakers struggled over the weekend, working late nights as they tried to craft a budget solution. As KPR’s Stephen Koranda reports, they ultimately approved a plan in the early hours of Monday morning.

Governor Eyes Cuts To Education, KPERS To Fill Budget Gap

Apr 21, 2016
Jimmy Everson, DVM / flickr Creative Commons

The state of Kansas reduced its revenue projections for this fiscal year and the next by $228.6 million, further increasing the state's budget deficit. As a result, Gov. Sam Brownback proposed three plans for erasing the shortfall, one of which affects K-12 education.

The plan would cut spending to public schools, universities and most state agencies by nearly $140 million. Cuts ranging from 3 percent to 5 percent would reduce funding for school districts across the state by more than $57 million.

How Could KPERS Payment Delay Affect Kansas?

Apr 15, 2016
Stephen Koranda / KPR

Update from KHI News Service on 4/20/2016:

Kansas officials got the bad news they were expecting.

After reading the economic tea leaves and noting that state tax collections have been short of expectations in 11 of the past 12 months, the Consensus Revenue Estimating Group reduced its revenue projections for this budget year and the next by $228.6 million.

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