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Kansas lawmakers working on plan to issue pension bonds

By Associated Press - | Mar 30, 2015

? Kansas legislators are starting to hash out a plan for issuing $1 billion or more in bonds to shore up the short-term financial health of the pension system for teachers and government workers.

House and Senate negotiators met briefly Monday and planned to reconvene Tuesday.

Republican Gov. Sam Brownback has proposed $1.5 billion in bonds.

Supporters of the idea say the Kansas Public Employees Retirement System would get an immediate infusion of funds and the earnings from investing the money would more than cover bond payments.

The move also could lower the state’s annual payments to KPERS in the short-term.

Critics see issuing bonds as risky.

The House passed a bill last week authorizing $1.5 billion in bonds. The Senate passed a measure last month for $1 billion in bonds.