House advances bond for KPERS

Kansas retiree advocate Ernie Claudel enthusiastically supported taking advantage of low interest rates to issue $1 billion in bonds to infuse investment cash into the Kansas Public Employees Retirement System.

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March 9, 2021 - 7:44 AM

TOPEKA — Kansas retiree advocate Ernie Claudel enthusiastically supported taking advantage of low interest rates to issue $1 billion in bonds to infuse investment cash into the Kansas Public Employees Retirement System.

“This appears to be an ideal time to attempt an issuance of the proposed bonds,” said Claudel, who works with the Kansas Coalition of Public Retirees and the Kansas Association of Retired School Personnel. “It would also seem to be the proper time to use part of this proposed funding for a modest benefit increase for your KPERS’ retirees and beneficiaries.”

The Kansas House didn’t buy the cost-of-living adjustment suggestion, but overwhelmingly approved the concept of $500 million to $1 billion in bonding — depending on where interest rates stand — to refinance a portion of the pension system’s unfunded liability.

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