Kansas Statutes 74-49,302. Definitions
Terms Used In Kansas Statutes 74-49,302
- 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
- system: means the Kansas public employees retirement system. See Kansas Statutes 74-49,302
(a) As used in this act, unless otherwise provided or the context otherwise requires:
(1) “Act” means the Kansas public employees retirement system act of 2015;
(2) “active member” means a member who is actively employed by a participating employer;
(3) “annuity savings account” means the account maintained for contributions of members under Kan. Stat. Ann. § 74-49,303, and amendments thereto;
(4) “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. Stat. Ann. § 74-4901 et seq., and amendments thereto;
(5) “employee” means the same as such term is defined in Kan. Stat. Ann. § 74-4902, and amendments thereto, except that only employees who are first employed by a participating employer on or after January 1, 2015, or employees of a participating employer which affiliates on or after January 1, 2015, are subject to the provisions of this act. The term employee shall include employees as provided in Kan. Stat. Ann. § 74-4931 et seq., and amendments thereto, first employed by a participating employer on or after January 1, 2015, or such employees of a participating employer which affiliates on or after January 1, 2015;
(6) “first employed” means an employee has not been an employee in a covered position of any participating employer prior to January 1, 2015, and is employed by a participating employer in a covered position on or after January 1, 2015; an employee who is a former member of the system who withdrew contribution accounts before January 1, 2015, and who is again employed by a participating employer in a covered position on or after January 1, 2015; 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 January 1, 2015;
(7) “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 January 1, 2015;
(8) “member” means an individual who is required by Kan. Stat. Ann. § 74-49,301, and amendments thereto, to be a member of the plan;
(9) “normal retirement age” means the attainment of age 65 with completion of five years of credited service, or 60 with the completion of 30 years of credited service;
(10) “plan” means the plan established within the Kansas public employees retirement system by Kan. Stat. Ann. § 74-49,303, and amendments thereto;
(11) “pre-2015 defined benefit plan” means the plan established pursuant to Kan. Stat. Ann. § 74-4901 et seq., and amendments thereto, and Kan. Stat. Ann. § 74-49,201 et seq., and amendments thereto;
(12) “retirement annuity account” means the account established for employer credits of members under Kan. Stat. Ann. § 74-49,303, and amendments thereto; and
(13) “system” means the Kansas public employees retirement system.
(b) Unless specifically provided in this section or in this act, words and phrases used in this act shall have the meanings ascribed to them as provided under the provisions of Kan. Stat. Ann. § 74-4901 et seq., and amendments thereto.