Kansas Statutes 74-49,113. Retirant dividend payments; payments to insured disability benefit recipients
Terms Used In Kansas Statutes 74-49,113
- 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
- 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
The board of trustees of the Kansas public employees retirement system shall determine annually the amount necessary to finance the retirant dividend payments to insured disability benefit recipients and shall transfer that amount from the retirant dividend payment reserve to the group insurance reserve of the Kansas public employees retirement fund. The board of trustees shall provide for the payment of the retirant dividend payments payable to insured disability benefit recipients under this act as part of the plan of death and long-term disability benefits under Kan. Stat. Ann. § 74-4927, and amendments thereto. The cost of such retirant dividend payments shall be paid from the group insurance reserve of the Kansas public employees retirement fund.