Kansas Statutes 74-4944. Same; funding of increase; past service cost
Terms Used In Kansas Statutes 74-4944
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- 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
(a) The cost of providing the amount of the increase in payments provided for in Kan. Stat. Ann. § 74-4943 shall be included in the next regular appropriate annual valuation made by the actuaries of the respective systems set out in Kan. Stat. Ann. § 74-4943, except in the case of the state school retirement system in which case the annual appropriation for payment of annuities shall be increased by an appropriate amount.
(b) The cost of providing the amount of the increase in payments provided for in Kan. Stat. Ann. §§ 74-4943 to persons entitled to receive such payments from the Kansas public employees retirement system, is hereby made a past service cost and shall be amortized in the same manner and over the same period as all other past service costs of each of the participating employers under the Kansas public employees retirement system.