Members of a House panel wrestled Monday with how best to dispose of Gov. Laura Kelly’s plan to refinance the pension system for state workers.
They settled on advancing the proposal without recommendation to the House floor, where the Republican-dominated chamber can amplify rejection of a cornerstone in the Democratic governor’s budget.
Kelly’s plan for reamortizing the state’s decades old debt to the Kansas Public Employees Retirement System would extend the payment plan from 15 to 25 years, lowering annual payments before they balloon in the coming years. Opponents of the plan gawk at the $4.4 billion in interest that would be added to the debt.
They settled on advancing the proposal without recommendation to the House floor, where the Republican-dominated chamber can amplify rejection of a cornerstone in the Democratic governor’s budget.
Kelly’s plan for reamortizing the state’s decades old debt to the Kansas Public Employees Retirement System would extend the payment plan from 15 to 25 years, lowering annual payments before they balloon in the coming years. Opponents of the plan gawk at the $4.4 billion in interest that would be added to the debt.
Source: Local – The Topeka Capital-JournalRead the full story ↗
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