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Time to stop digging

Dear Editor,
During his State of the State address, Gov. Brownback told Kansans that when you’re in a hole the first thing you need to do is stop digging.
He was referring to the Kansas Public Employee’s Retirement System (KPERS) and the $8.7 billion unfunded liability currently facing the state’s pension system.
First, let’s look at the staggering numbers associated with a defined contribution plan, or 401(k) approach, being proposed by the governor and legislative leaders.
Projections by the state’s own actuary show the new plan envisioned by the KPERS study commission will ...

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