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Senate committee recommended $500 million state transfer to KPERS trust fund to reduce unfunded liability
Summary
Researchers recommended a $500 million one-time transfer from the State General Fund to the KPERS trust fund to reduce an estimated $10 billion unfunded actuarial liability; committee and KPERS staff discussed who would shoulder future contribution obligations and the timeline for a $75 million modernization project.
The committee heard a recommendation to transfer $500,000,000 from the State General Fund into the Kansas Public Employees Retirement System (KPERS) trust fund in fiscal year 2026 to reduce KPERS' unfunded actuarial liability.
"Putting $500,000,000 in now will reduce the required contributions in the future," said Jared Waldner, planning and research officer at KPERS. "The idea of having a large lump sum payment earlier is like trying to pay off a mortgage earlier."
KLRD researcher Mike Ditch presented the interim committee report that listed the transfer as the first recommendation. The report also recommended supporting HB…
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