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Minutes for HB2086 - Committee on Financial Institutions and Insurance
Short Title
Adjusting the KPERS 3 dividend interest credit by lowering the dividend interest credit threshold to 5% and increasing the dividend share to 80%.
Minutes Content for Thu, Mar 6, 2025
Chairperson Dietrich opened the hearing on HB2086. Revisor Eileen Ma provided a summary of the bill and stood for questions from the Committee.(Attachment 1)
Shannon Kimball of the Kansas Association of School Boards spoke as a proponent of the bill. (Attachment 2) She stated that school board members consistently express significant concern about teacher and support staff recruitment and retention. They believe improvements to KPERS is critical for the future of the teaching profession in Kansas. There is an on-going teacher shortage and this issue with KPERS has been a multi-year priority for their organization. She stood for questions after her testimony.
Tim Graham of the Kansas National Education Association also supported the bill.(Attachment 3) He explained that teacher shortage are real and KPERS reform is needed. He observed that although teachers may start their career in Kansas, they will most likely not finish here and go to another state or end up making a career change. This bill does not fix the entire problem with recruitment and retention but is part of a first step solution for helping educators. He answered questions from the Committee.
Written proponent testimony was also received from Lori Greenfield a Kansas educator (Attachment 4), Amber Schmidt a private citizen (Attachment 5), Troy Findley of Keeping the Kansas Promise Coalition (Attachment 6), and Mary Sinclair for the Kansas PTA.(Attachment 7)
Neutral testimony was given by Alan Conroy of KPERS.(Attachment 8) He explained the KPERS retirement plan's design and calculations for dividend amounts are determined. He noted that the bill would create a new dividend formula which would increase dividend share from 75% to 80% and lower the threshold from 6% to 5%. He also explained that actuarial cost considerations of the proposed bill. He stood for questions from the Committee.
Chairperson Dietrich closed the hearing on HB2086.
