“We’ve got to stop the bleeding,” state Rep. John Grange, R-El Dorado, said about the underfunded Kansas Public Employees Retirement System. But that will take a lot of money that the state doesn’t have right now. Currently, the pension plan has an unfunded liability of about $8 billion. The best long-term solution for KPERS may be transitioning it to a 401(k)-type plan. But that would be very difficult because it would mean even less money would be available to help pay the current liability. But as Grange noted, the Legislature needs to act. “I came here seven years ago and we were talking about this,” he said. “We’re still talking about it.”
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