The executive director of the Kansas Public Employee Retirement System said Friday he wasn’t concerned about the effect of the market downturn on the recent sale of $1 billion in KPERS bonds.
The bonds sold last month are long-term, said Alan Conroy at a news conference with Gov. Sam Brownback, and no doubt will weather many ups and downs. Plus, the bonds were sold at historically low rates, he said.
Brownback said his purpose in calling the press conference was to point out that the long under-funded pension system for teachers and government workers was finally on the right track.
He credited the Legislature for approving contribution changes in 2012 and, earlier this year, authorizing the $1 billion in bonds .
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“KPERS is on solid footing,” Brownback said. “We’re headed in the right direction.”
Past administrations and Legislatures have “kicked the can down the road” in repairing the system, but that has ended, he said.
Asked if he would ever consider proposals to privatize the system, Brownback said, “We are always reviewing options.”