KPERS is 68% funded – up more than 12% since 2012. While we're making progress toward full funding, it's important to remember that 80% and rising is good for pensions like ours, with the goal of 100%. So we're on the right track! But there's no getting around it. We have a long-term funding shortfall and we can't invest our way out.

The difference between our Trust Fund assets and projected future benefits is the unfunded actuarial liability. Currently at $9.2 billion, it's mainly from two recessions and KPERS receiving less than the required employer contributions for more than 25 years. It will take time and the right amount of employer contributions to improve the System's funded status. As your fiduciary, we're working with employers and State leaders to ensure sound funding for your promised benefits.