Kansas Statutes 74-49,105. Same; retirement benefit exempt from taxes and legal process; exception, qualified domestic relations order
Terms Used In Kansas Statutes 74-49,105
- 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
- Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
- Garnishment: Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtor
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Kansas Statutes 77-201
Every retirement benefit received by any person under subsection (b) of Kan. Stat. Ann. § 74-49,104, and amendments thereto, shall be exempt from any tax of the state of Kansas or any political subdivision or taxing body of the state; shall not be subject to execution, garnishment, attachment or except as otherwise provided, any other process or claim whatsoever; and shall be unassignable. Any retirement benefit due and owing to any person under subsection (b) of Kan. Stat. Ann. § 74-49,104, and amendments thereto, is subject to claims of an alternate payee under a qualified domestic relations order. As used in this subsection, the terms “alternate payee” and “qualified domestic relations order” shall have the meaning ascribed to them in section 414(p) of the internal revenue code of 1986, as amended as in effect on July 1, 2008, and as applicable to a governmental plan. The provisions of this act shall apply to any qualified domestic relations order which was filed or amended either before or after July 1, 1994.