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Minutes for HB2503 - Committee on Financial Institutions and Pensions
Short Title
Amortizing the state and school KPERS unfunded actuarial liability over a 25-year period and authorizing the transfer of $268,412,000 from the state general fund to the KPERS fund during fiscal year 2020 and eliminating certain level-dollar employer contribution payments.
Minutes Content for Mon, Feb 3, 2020
Chair Kelly opened the hearing on HB 2503, recognized David Wiese, Assistant Revisor of Statutes, who briefed the committee on HB 2503. (Attachment1) A question and answer period followed.
Informational - Chair Kelly recognized Alan D. Conroy, Executive Director, KPERS, who provided detailed information regarding HB 2503. (Attachment2) A question and answer period followed.
Proponent - Chair Kelly recognized Larry Campbell, Director of Budget, State of Kansas Division of Budget who provided testimony in support of HB 2503. (Attachment3) A brief question and answer period followed.
Neutral - None
Opponents - Chair Kelly recognized the following individuals who provided testimony opposed to HB 2503; Ernie Claudel, Kansas Association of Retired School Personnel, (Attachment4); Jarold W. Boettcher, Former KPERS Board of Trustee Member, 1991-2008,(Attachment5); and Representative Steven Johnson, District 108, Assaria, (Attachment6). Representative Johnson fielded a number of questions from committee members.
Chair Kelly closed the hearing on HB 2503.
The next House Financial Institutions and Pensions committee meeting is scheduled for Wednesday, February 5, 2020.
Chair Kelly adjourned the meeting at 10:29 am.
