Kansas Statutes 74-49,101. Request for appropriation for employer contribution; rate for fiscal 1976
Terms Used In Kansas Statutes 74-49,101
- 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
- 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
- compensation: means the same as such term is defined in Kan. See Kansas Statutes 74-49,202
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- 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
The division of the budget and the governor shall include in the budget and in the budget request for appropriations for personal services the sum required to satisfy the state‘s obligation under this act as certified by the board of trustees of the Kansas public employees retirement system pursuant to Kan. Stat. Ann. § 74-4920, and shall present the same to the legislature for allowance and appropriation, except that for the fiscal year beginning July 1, 1975, the rate of contribution of the state for persons who become members of the Kansas public employees retirement system pursuant to subsection (b) of Kan. Stat. Ann. § 74-4999, shall be six and four-tenths percent (6.4%) of the amount of compensation on which such persons contribute during such fiscal year.