Transferring $1,000,000,000 from the budget stabilization fund to the liability reduction fund of KPERS, using a portion of the interest earnings of the liability reduction fund to provide a 2% COLA for retirants who have been retired for more than 5 years, transferring annually certain amounts from the state general fund to the budget stabilization fund and establishing requirements for the expenditure or transfer of moneys from the budget stabilization fund.

Summary

The proposal creates a Liability Reduction Fund, funded with $1 billion transferred from the Budget Stabilization Fund, to help lower the unfunded pension liability of Kansas public‑employee retirement systems. Interest earned by that fund would be used to provide a 2 percent cost‑of‑living increase to retirees who have been retired for at least five years as of July 2025. It also directs annual transfers from the General Fund to the Budget Stabilization Fund and sets rules for how those stabilization monies can be spent or moved.

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