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.
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The 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 House approved the measure last month, and it now goes to the governor.
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.