Kansas Statutes 74-49,110. Retirant dividend payment reserve in KPERS fund; annual credits
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Terms Used In Kansas Statutes 74-49,110
- Retirant: means (1) any person who is a member of a retirement system and who has retired prior to July 2, 1987, (2) any person who is a special member of a retirement system and who has retired prior to July 2, 1987, (3) any person who is a joint annuitant or beneficiary of any member described in clause (1) or of any special member described in clause (2), (4) any local school annuitant, and (5) any insured disability benefit recipient. See Kansas Statutes 74-49,109
- 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
There is hereby created the retirant dividend payment reserve in the Kansas public employees retirement fund. Prior to each October 1, the board of trustees of the Kansas public employees retirement system shall credit to the retirant dividend payment reserve an amount equal to the amount required to pay the maximum benefits under Kan. Stat. Ann. § 74-49,111, and amendments thereto, during the current year. Such amounts shall be credited from the retirement benefit accumulation reserve.