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Kansas Lawmakers Working On Plan To Issue Pension Bonds

Stephen Koranda

Kansas legislators are working Monday on the final version of a bill that would allow state to issue $1 billion dollars or more in bonds to the state pension system.

Lawmakers say the bonds will shore up the short-term financial health of the state pension system for teachers and government workers.

Governor Sam Brownback has proposed issuing $1.5 billion dollars in bonds.

Supporters say the Kansas Public Employees Retirement System will get an immediate infusion of funds and believe the earnings from investing the money will more than cover bond payments.

The move also would allow the state to lower its annual payments to KPERS in the short-term.

The House passed a bill last week authorizing $1.5 billion in bonds.

The Senate passed a measure last month for $1 billion in bonds.