KPERS Retirees

House Bill 2055, introduced in House Federal and State Affairs committee, allocates 25 percent of the net gaming proceeds to the retirees trust fund. Half of this money would be dedicated to a COLA for retiree's and the other half would be used to shore up the long term health of the retirement system.

KPERS recipients have not received a cost-of-living increase since 1998, which is all the more reason for our Legislature to pass expanded gaming. It is estimated that expanded gaming will recapture between $50-$60 million a year in the 3rd year of operation that would go to KPERS. These dollars would ensure that the retirement program is sustainable and affordable.