TOPEKA, Kan. (AP) — Kansas legislators have voted to commit more than $1.1 billion in surplus state funds to shoring up the state pension system for teachers and government workers.
The Republican-controlled state Senate on Thursday voted 26-10 for a bill that would put the funds into the pension system between now and the end of the year.
The GOP-controlled House approved the measure last month, and it goes to Democratic Gov. Laura Kelly.
Lawmakers opened their annual session in January with Kansas projecting record-high cash reserves for the end of June 2023.
The state pension fund has a $4.4 billion gap between its projected funding and long-term commitments for benefits to retirees.