Terms Used In Kansas Statutes 74-49,301

  • 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

  • Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
  • covered position: means a position with an affiliated employer that is eligible for membership in the Kansas public employees retirement system pursuant to the provisions of Kan. See Kansas Statutes 74-49,202
  • employee: means the same as such term is defined in Kan. See Kansas Statutes 74-49,202
  • first employed: means an employee has not been an employee in a covered position of any participating employer prior to July 1, 2009, and is employed by a participating employer in a covered position on or after July 1, 2009; an employee who is a former member of the system who withdrew contribution accounts before July 1, 2009, and who is again employed by a participating employer in a covered position on or after July 1, 2009; or an employee who was an inactive non-vested member and who is again employed by a participating employer in a covered position on or after July 1, 2009;

    (8) "inactive, non-vested member" means a member who has terminated employment with a participating employer and who does not have a vested retirement benefit in the system on July 1, 2009;

    (9) "normal retirement date" means the date on or after which a member may retire with all retirement benefits pursuant to Kan. See Kansas Statutes 74-49,202

  • 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

  • participating employer: means an eligible employer who has agreed to make contributions to the system on behalf of its employees first hired on or after July 1, 2009. See Kansas Statutes 74-49,202
  • 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
  • school year: means the twelve-month period beginning September 1 and ending August 31;

    (4) "employee" means any employee of a participating employer which is an eligible employer, as specified in Kan. See Kansas Statutes 74-4932

  • system: means the Kansas public employees retirement system. See Kansas Statutes 74-49,302

(a) The provisions of Kan. Stat. Ann. § 74-49,301 through 74-49,318, and amendments thereto, shall be known and may be cited as the Kansas public employees retirement system act of 2015.

(b) Any employee who is first employed by a participating employer on or after January 1, 2015, shall be a member of the system under the provisions of this act on the first day of employment of such employee with such participating employer.

(c) (1) Any non-vested employee other than an elected official of a participating employer who has been employed in a covered position as defined in Kan. Stat. Ann. § 74-49,202, and amendments thereto, other than with a school employer, shall remain a member of the Kansas public employees retirement system as provided pursuant to Kan. Stat. Ann. § 74-4901 et seq., and amendments thereto, on and after July 1, 2009, if the member: (A) Does not leave covered employment with a participating employer for a period of time exceeding 30 consecutive days; (B) does not withdraw such member’s annuity savings account as defined by Kan. Stat. Ann. § 74-49,302, and amendments thereto, forfeiting such member’s membership in the interim; and (C) returns to covered employment with a participating employer in a covered position within such 30-day time period.

(2) Any non-vested employee other than an elected official of a participating employer who has been employed in a covered position with a participating school employer, shall remain a member of the Kansas public employees retirement system as provided pursuant to Kan. Stat. Ann. § 74-4901 et seq., and amendments thereto, if the member: (A) Was employed in a covered position with a participating school employer for the duration of the school year and immediately returns to covered employment with another participating school employer at the beginning of the following school year; and (B) does not withdraw such member’s annuity savings account as defined by Kan. Stat. Ann. § 74-49,302, and amendments thereto, forfeiting such member’s membership in the interim.

(d) This act does not apply to members of the Kansas police and firemen’s retirement system, Kan. Stat. Ann. § 74-4951 et seq., and amendments thereto, the retirement system for judges, Kan. Stat. Ann. § 20-2601 et seq., and amendments thereto, and security officers as provided in Kan. Stat. Ann. § 74-4914a, and amendments thereto.

(e) A system member may not simultaneously be a member of the pre-2015 plan and the plan established pursuant to this act. A period of service may not be credited in more than one retirement plan within the system.

(f) The board of trustees of the Kansas public employees retirement system shall administer the provisions of this act in the same manner as the board administers the provisions of Kan. Stat. Ann. § 74-4901 et seq., and amendments thereto, except as specifically provided in this act.

(g) Unless specifically provided in this act, the provisions of Kan. Stat. Ann. § 74-4901 et seq., and amendments thereto, shall be applicable to this act. In an event that a conflict exists between the provisions of this act and the provisions of Kan. Stat. Ann. § 74-4901 et seq., and amendments thereto, the provisions of this act shall control, and to that end, no legal or contractual rights shall inure to the benefit of members or participating employers under this act with regard to the provisions of Kan. Stat. Ann. § 74-4901 et seq., and amendments thereto, when the provisions of this act control.

(h) Each participating employer as provided in this act and each employee as defined by this act shall be subject to the provisions of this act as specified in this act and subject to the provisions of Kan. Stat. Ann. § 74-4901 et seq., and amendments thereto, as appropriate as to terms, conditions and requirements not specifically covered in this act. The provisions of this act shall not apply to members of the Kansas public employees retirement system as provided in Kan. Stat. Ann. § 74-4901 et seq., and 74-49,201 et seq., and amendments thereto, first employed by a participating employer prior to January 1, 2015, unless otherwise provided in this act.

(i) The provisions of this act shall be part of and supplemental to the provisions of Kan. Stat. Ann. § 74-4901 et seq., and amendments thereto, subject to the limitations contained in this act.

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