HB2298

Kansas HB2298 transfers $1 billion from the budget stabilization fund to the liability reduction fund of KPERS, uses interest earnings to fund a 2%.

Kansas HB2298 establishes the liability reduction fund of the Kansas Public Employees Retirement System (KPERS) and transfers $1 billion from the budget stabilization fund to this new fund. The bill uses a portion of the interest earnings from the liability reduction fund to provide a 2% cost-of-living adjustment (COLA) for certain retirees who retired before July 1, 2020. The bill also mandates annual transfers from the state general fund to the budget stabilization fund and sets requirements for the expenditure or transfer of moneys from the budget stabilization fund.