Legislative actions have made the program financially sound
The official name for the states retirement plan is Kansas Public Employees Retirement System. Everyone knows it simply as KPERS. KPERS consists of 3 major tiers. Tiers 1 and 2 are traditional defined benefit plans. Tier 3, effective for new hires after January 1, 2015 is a modified defined benefit plan with a 401(k) twist.
Kansas like most states historically underfunded its defined benefit plans while at same time increasing benefits.
Not financially prudent or sustainable. This all changed in 2011 under Governor Brownback. Since 2011, the legislature has never wavered on the goal of finally getting KPERS on solid financial ground.
The graphic below provides a good overview of KPERS.
KPERS annual funding has been steadily increasing since 2010 to catch up on all the past years of it being underfunded.