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KPERS seeks funding to replace 20‑year pension administration system; agency outlines budget and modernization timeline
Summary
KPERS staff briefed the committee on the agency’s FY26–27 operating budget, projected investment expenses, and a multi‑year pension administration modernization (KAPS) that will replace a system nearing 25 years of age.
KPERS Chief Fiscal Officer Chris Holmes briefed the committee on the agency operating budget request and on planned expenditures for a multi‑year pension administration modernization project. Holmes described four budget components: general operations, investment‑related expenses, death and disability administration, and the KPERS 457 deferred compensation plan. He said most itemized expenditures are paid from the KPERS trust fund and that benefit payments themselves are off‑budget for presentation purposes.
Budget numbers: Holmes gave the committee a high‑level view of KPERS’ fiscal‑year requests: the revised FY26 operating request around…
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