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OPS needs $15.5 million for underfunded pension plan

Posted at 10:49 AM, May 29, 2017
and last updated 2017-05-29 11:49:42-04

LINCOLN, Neb. (KMTV) - As of April, the pension plan for Omaha Public Schools staff is only 65 percent funded, as opposed to 85 percent a decade ago. 

That rate means OPS will need an extra $15.5 million in its next budget to shore up these pension problems, according to state officials. 

An OPS official told the Omaha World-Heraldthe district was expecting a $500,000 bill, not a $15.5 million bill. Despite that, officials said they believe finding an extra $15.5 million in its $600 million yearly budget is possible.

The pension issues stemmed from the plans losing value during 2008 and 2009.  

Those who are currently retired from the district will not have their pension checks affected.