Update: Joint Committee on Pensions, investments, and benefits

​The outcome of the committee was as positive as we have seen in recent years. They can only make recommendations in their report back to the legislature.

• Recommendation of $500 million contribution be made to the KPERS Trust Fund to reduce the unfunded liability.
• Recommendation that a COLA for KPERS members be studied.
• Recommendation that the DROP program be considered as an option for School members.

Approximately 20 retirees from KNEA Retired, KARSP, and the KCPR Steering Committee attended.  Consensus from attendees and several legislators was retiree attendance positively impacted the outcome.

After an hour and a half presentation on SB282 ("KRISP Bill") the committee conducted no further discussion on the bill and no recommendations were made. 

The DROP program was instituted for the Kansas Highway Patrol to bolster their retention and recruitment several years ago. It then expanded to include KBI and KP&F. The legislature’s acceptance of the program was due to being cost neutral to KPERS. Qualifiers for participation in DROP limits the number of participants.

There are two major concerns about adding School to DROP:

• Substantial numbers of participants would lead to dramatically increasing administrative costs.
• How does the continuing contract policy for educators impact their ability to participate?

​Again, thanks to all who attended!