Tag Archives: Pension Obligation Bond

The State Of Kansas Pension Is Desperately Underfunded

Not that the State of Kansas public retirement pension system is in much worse condition than just about every other State’s public pension fund.  I know for a hard fact that Colorado’s is significantly underfunded.  I think the tax revenues from weed sales is helping defer the day of reckoning in terms of having to raise taxes or debt.   But not for Kansas.   Kansas is looking at issuing a “Pension Obligation Bond.”  This is a muni bond that would be the general obligation of the taxpayers of Kansas BUT the cash raised would be given to the pension fund managers to play with and try to earn impossible rates of return.   I go into detail about how this deal would work in this podcast with my colleague Rory Hall of The Daily Coin:

This is nothing more than just another scheme to kick the can down the road on the fiscal nuclear bomb that big State pension retirement systems have become to the taxpayers…