NEW PROPOSAL TO INCREASE YOUR MANDATORY KPERs CONTRIBUTION!

A proposal has been moving through the committees that affect public employee retirements in the past few days. This proposal calls for:

• All Tier 2 employees to increase their contribution over the next few years to 8% of their base salary
• Tier 1 employees would face a 6% increase.

From 2013 to 2023 that will equal $1,487.9 billion in employee contributions and by 2034 it will be nearly $400 billion!

Can you afford to give up 8% of your salary?  We all know there is an unfunded liability for KPERs for the long term. But we must not resort to balancing this liability on the backs of public employees for the short tem.

Our small pension and small salaries didn’t create this liability.  House Assistant Minority Leader Jim Ward says: “State employees need to contact their legislators and let them know state workers can’t afford these increases!”

CONTACT THESE LEGISLATORS NOW!

Joint Committee on Pensions, Investments and Benefits

House Select Committee on KPERs

Senate Subcommittee on KPERs