TOPEKA, Kan. (AP) The Kansas Senate has passed a bill aimed at stabilizing the long-term financial health of the state pension system for teachers and government workers.
The measure, approved on a 35-2 vote Thursday, is a compromise drafted by negotiators who settled differences between the two chambers. The House also expected to vote on it Thursday, and its approval would send the measure to Gov. Sam Brownback.
The compromise would set aside casino revenues to bolster the long-term financial health of the Kansas Public Employees Retirement System.
The legislation also includes a new retirement plan for public employees hired after 2014. The proposal calls for moving away from traditional plans guaranteeing retirement benefits based on a worker’s salary and years of service. But the new plan also isn’t a 401(k)-style plan.
