Here’s the latest anti-teacher-morale provision. While teachers are continuing to make their recently-increased KPERS contributions, the state is delaying making theirs until the fall, with 8% interest. Who believes that if they can’t make the payment now, they’ll be able to pay the original amount plus 8% in September? Would you feel confident about your retirement plan if your employer did this?
Quoting from Johnson County Educators Facebook, which quoted http://m.ljworld.com/news/2016/feb/15/budget-negotiaors-agree-ku-bonding-language/?templates=mobile
“The two chambers also agreed on language that would allow Gov. Sam Brownback to delay an estimated $100 million payment into the Kansas Public Employees Retirement System fund at the end of this fiscal year, if doing so is necessary to prevent the state from ending the year with a negative balance. But that payment would have to be repaid in full by Sept. 30, plus 8 percent annual interest, and the KPERS fund would be off limits for any more delayed payments for the next year.”