TITLE

Kansas Gets $500M Pension Bond Authorization in Under the Wire

AUTHOR(S)
Williamson, Richard
PUB. DATE
May 2003
SOURCE
Bond Buyer;5/8/2003, Vol. 344 Issue 31631, p1
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The Kansas Public Employee Retirement System (KPERS) won authorization to sell 500 million of pension obligation bonds under one of the bills passed in the 2003 legislative session. The proposal for KPERS to sell its first pension bonds surfaced last year when plummeting investments and funding deficiencies left the system with a 1.8 billion dollars unfunded liability. To cover part of the gap, KPERS proposed a 750 million dollar bond issue and an increase in the contribution rate from state, county, city, and school district employers.
ACCESSION #
9845569

 

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