TOPEKA, Kan. (AP) – Kansas officials are considering lowering the expected rate of return for public employee pension investments.
The Topeka Capital-Journal reports that the Kansas Public Employee Retirement System has assumed an annual return on investment of 8 percent for three decades. A transition wouldn’t change pension benefits to KPERS’ members. But a lower expected return on investments would mean taxpayers and possibly employees would need to chip in more money.
Consultants have been meeting with the pension’s board for months to weigh options. Retirement system executive director Alan Conroy says the board is “in the thick of considering it.”
A final decision might be made at the Nov. 18 meeting or put off until January.