Governor Laura Kelly signed bipartisan legislation, Senate Bill 421, that transfers more than $1 billion from the State General Fund to the Kansas Public Employees Retirement System (KPERS). Senate Bill 421 will provide immediate and long-term benefits to the state by eliminating debt from the state’s balance sheets and reducing future employer contributions. “Balancing the budget, paying off debt and providing financial relief for Kansans has always been my top priority – and today we delivered on that promise,” Governor Kelly said. “We’re fixing the damage done to KPERS because our public service employees and retirees deserve their retirement fund to be replenished after the previous administration skipped payments to cover reckless tax policy.” SB 421 will provide immediate and long-term benefits to the state by reducing the debt owed to the fund and further enhancing the state’s historic financial strength.
Source: The Sabetha Herald
