Mortgage News

Delay in paying KPERS liability would cost state extra $3.7 billion

Decades of lower, delayed and missing employer contributions.. As long as there is a plan to pay for it in a reasonable amount of time. KPERS' unfunded liability is paid for as part of employer contributions. downturns for an extra 12 years. Pay. gain is projected to cost the State $7.4 billion over time. $ in billions. Billion.

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Extra Points: Tax Items Of Note by McGrath North Tax Group. has instituted a 30 day delay on all California tax refunds and other payments starting February 1st – because the state is running out of money to pay the refunds.. The Controller stated that he must delay $3.7 billion in.

$1.3 billion to the unfunded liability. On that basis, lowering the investment return assumption to 6% would take the UAAL to $15.3 billion. At 4%, the UAAL is $20.5 billion. In 2011, KPERS said funding the plan at a 6% return would cost $3.3 billion more between 2013 and 2023. Return History KPERS assumes 8 percent annual return.

KPERS current has an unfunded liability of more than $8 billion. That’s the difference between promised benefits and projected costs. Alan Conroy, the executive director of KPERS, says the proposed changes would grow that unfunded liability by another $6.5 billion. "You can not pay it now, but it is sort of like that mortgage on the house.

One-time payment to federal government for debt setoff settlement. add .7 million, including $2.4 million from the State General Fund, for. State back to the FY 2020 statutory level after the 4.0 million kpers delay in FY 2019. FY 2019 to share expenses for the Kansas Prescription Monitoring.

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The cost of delaying resolution of the deficit in KPERS could cost the state as much as $9 billion – nearly double the existing unfunded liability – when carried forward over three decades.

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An Open records request fulfilled by the Kansas Public Employees Retirement System (KPERS) shows record-setting payouts in 2016 of $1.6 billion.. The number of KPERS ‘millionaires’ also set a new record, with 2,007 government retirees expected to receive more than $1 million in pension benefits over their first 20 years of retirement.

KPERS 457 – State of Kansas Public Employees 457(b) deferred compensation plan Features and Highlights Read these highlights to learn more about your Plan. If there are any discrepancies between this document and the Plan Document, the Plan Document will govern. About the 457(b) Deferred Compensation Plan