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KPERS reports record trust-fund value and ongoing IT modernization during budget presentation
Summary
KPERS told the Committee on General Government Budget that its trust fund reached a record high and that investment-management fees rose because fees are percentage-based on assets and performance; KPERS also described an ongoing pension-administration modernization project and said the committee should concur with the LBC budget recommendations.
KPERS staff briefed the Committee on General Government Budget on the agency’s FY2025 and FY2026 operating budgets, investment-related expenses, and a multi-year pension-administration modernization project. The committee later concurred with the Legislative Budget Committee recommendation for KPERS’ budgets.
Trust-fund size and investment fees: testimony said KPERS manages trust-fund assets of about $26–28 billion (trust‑fund asset figures were presented as a range) and that the operating budget uses a small portion of trust assets to fund administration. KPERS reported higher investment-management fees relative to the prior fiscal year because fees are paid on…
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