Kansas Statutes 74-4943. Increase in retirement benefits, pensions and annuities to persons entitled thereto on June 30, 1971; effective July 1, 1972; application and exceptions
Terms Used In Kansas Statutes 74-4943
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- Retirement system: means the Kansas public employees retirement system, the Kansas police and firemen's retirement system, the state school retirement system, the Kansas highway patrol pension fund, the Kansas bureau of investigation pension fund, the Kansas retirement fund for judges, or the Kansas retirement fund for official court reporters. See Kansas Statutes 74-49,109
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Kansas Statutes 77-201
- system: means the Kansas public employees retirement system. See Kansas Statutes 74-49,302
Retirement benefit, pension and annuity payments accruing on and after July 1, 1972, to persons entitled to receive such payments on June 30, 1971, shall be increased in an amount equal to five percent (5%) of the benefit, pension or annuity payment in effect on June 30, 1972, from the Kansas public employees retirement system, the Kansas police and firemen’s retirement system, the state school retirement system, the Kansas highway patrol pension fund, the Kansas bureau of investigation pension fund, the Kansas retirement fund for official court reporters and the Kansas retirement fund for judges, except that such increase shall apply to the savings and service annuities payable to all members of the state school retirement system who have retired on or before June 30, 1972.