Kansas Statutes 74-4998. Same; rights under act; waiver of rights under K.S.A. 46-1301
Terms Used In Kansas Statutes 74-4998
- Act: means the Kansas deferred retirement option program act;
(2) "board" means the board of trustees of the Kansas public employees retirement system;
(3) "DROP" means the deferred retirement option program established by Kan. See Kansas Statutes 74-4986l
- member: means any member of the Kansas police and firemen's retirement system who is eligible to participate in the DROP and who elects to participate in the DROP as provided in this act;
(7) "monthly DROP accrual" means the amount equal to the monthly retirement benefit that would have been payable to the member had the member terminated service and retired on the day the member elected; and
(8) "system" means the Kansas police and firemen's retirement system. See Kansas Statutes 74-4986l
Nothing in this act shall affect any right or interest that any legislator may have acquired under Kan. Stat. Ann. § 1972 Supp. 46-1301, unless such a person elects to become a member under this act, in which case such person shall be deemed to have waived all rights he had or may have had under said 46-1301.