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Kansas Legislature Will Discuss Public Pensions in 2014 Session

Kansas lawmakers will once again discuss public pensions during their upcoming session.

Rep. Allan Rothlisberg
Rep. Allan Rothlisberg

Despite major changes to the Kansas Public Employees Retirement System inĀ 2011 and 2012, the gap between anticipated revenues and commitments to employees through 2033 approaches $10.3 billion.

Republican Representative John Rubin of Shawnee has said that he will propose creating a 401 (k) -style plan for public employees hired after 2015.

According to Republican Representative Allan Rothlisberg of Grandview Plaza the proposed plan would help shorten that gap.

“It’s my understanding that each individual will be able to pick certain things on a 401 (k), mutual funds, merging markets etc. and then that’s where the money that they put in will go to,” Rothlisberg said. “That way the government will have to match the money every pay-check and not put it off for later.”

Rothlisberg added that to his knowledge public employees who already have a 401 (k) will have the option to keep their current plans or switch to the new proposed ones after 2015, “they don’t have to go to it unless they want to.”

“Employees will be able to control their own retirement rather than have the government make the decisions for them,” Rothlisberg explained.

The 2014 session begins January 13th.

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