TOPEKA — The head of Kansas’ state pension system says lawmakers will have to contribute $177 million more funds next year to keep it on track.
KPERS director Alan Conroy told the pension system’s board Monday in Topeka the figure represents a $61 million employer contribution increase called for in the fiscal year beginning in July 2017. The Topeka Capital-Journal says there also a $115 million payment due in June 2018 that lawmakers put off earlier this year.
Conroy says the call for additional funding comes amid “challenges” with the state’s general fund. Those include a $350 million shortfall in the current year and a reduction of more than $850 million in anticipated revenue for the next year.
Delayed and reduced payments may require greater future investments to catch up.
