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House moves modest KPERS 3 benefit change after debate over long-term costs
Summary
Lawmakers approved a change shifting some CAPERS 3 excess investment gains to employees (raising the employee share above a lower threshold) and debated long-term budget and intergenerational equity consequences.
The House reported favorably on House Bill 20-86, a measure adjusting the distribution of excess investment returns for KPERS (Kansas Public Employees Retirement System) members in the KPERS 3 tier.
What the bill would change Sponsors described the change as a minor adjustment to the KPERS 3 dividend formula: instead of sharing 75% of returns above 6% with employees, the bill lowers the threshold to 5% and would allocate 80% of returns above that threshold to employees. Proponents…
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