Brownback delays $92.6 million KPERS payment

Gov. Sam Brownback’s administration notified the Kansas Public Employees Retirement System on Friday that it would delay a $92.6 million payment into the pension fund that is due to be paid on April 15.

The delayed payment is not expected to impact KPERS beneficiaries, which include teachers and other state employees. Delaying the payment, though, will give the state more flexibility to deal with shortfalls in state funding, but will do so at a cost because the KPERS payment is required to be repaid with interest.

Kansas lawmakers gave the administration authority to delay the KPERS payment as part of the budget bill it passed earlier in the session.

(Read more: stories)

Leave a Comment