The Kansas Senate Ways and Means Committee approved a proposal for $1.5 billion of taxable pension bonds to bolster the Kansas state employee retirement system late last week.

The committee gave the go-ahead after amending House Bill 2403 to provide for a maximum interest rate of 4% on the taxable debt for Kansas Public Employee Retirement System. The original version adopted by the House on March 26 had a 5% cap on the interest rate.

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