Our Impact
The Purpose of a Defined Benefit Plan
The purpose of a defined benefit retirement plan should be to attract high-quality workers, retain those workers during their most productive years, and then allow those workers the means to exit the workforce with dignity. This creates steady and predictable movement within the workforce so employers can make better personnel decisions and employees are motivated by opportunities for advancement.
KCPERS paid nearly $100 million in pension benefits to over 1,500 retired KCPD employees and beneficiaries last year. Nearly 86% of those benefit payments remain in Missouri. Those members are living and paying taxes in Missouri, helping drive the economies of the local communities in which they live.
The heat map shows the massive economic impact these benefit payments have on Kansas City, Missouri.
$74 million of the $79.4 million dollars of benefits paid in Missouri stay directly in the KC Metro. That is money being spent at local restaurants and shops and generating taxes.
Download Our Latest Economic Impact Report!
Our Impact Report shows the annual benefits paid and the historical funding of KCPERS.
Cost of Living Adjustment:
The Retirement Board granted a 2.5% COLA