Delay in paying KPERS liability would cost state extra $3.7 billion
Changes to the state’s pension system proposed by Gov. Sam Brownback could cost Kansas $3.7 billion in the long run, lawmakers learned Tuesday. Delay in paying KPERS liability would cost state.
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The state of Kansas has delayed its obligation to pay roughly $90. Stories and photos may be republished at no cost with proper attribution and a link back to. KPERS has billions of dollars to cover retirement benefits for.
would have offset the Department's costs for set up and cleanup of events in. million from the State General Fund to KPERS that the.. severance tax ( increased by $3.7 million), motor carrier. school district extra.. kpers Actuarial Liability.. delayed payment totaling $194.0 million in FY 2019.
Trump’s golf havens fight taxes and shrink local revenues So we ain’t going nowhere until the House votes on revenue." Those districts that rely heavily on state tax dollars are hit hardest by the bill backlog – and are the most worried about a prolonged.
KPERS payment delay raises fiscal questions. to pay roughly $90 million into the Kansas Public Employees Retirement System, or KPERS, which covers educators and most employees in state and.
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New revenue-generating initiatives are expected to bring in $616 million in fiscal 2018, growing to more than $1 billion by fiscal 2022, according to the financial plan. Meanwhile cost. the state..
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Paying for approved school funding without gimmicks (transfers, KPERS delays, ignoring the ending balance law, etc.) will cost another $2.1 billion and if elected officials decide to meet KSDE’s $365 million estimate of the latest court demand, another $940 million tax hike will be needed.