Kansas SB 64: Amending the private and out-of-state postsecondary educational institution act to clarify the state board of regents' authority and provide additional student protections and institutional accountability.

Bill Text

SENATE BILL No. 64
AN ACT concerning retirement and pensions; relating to the Kansas public employees
retirement system; adjusting certain internal references; extending the time for filing
administrative appeals; updating provisions relating to compliance with the federal
internal revenue code; amending K.S.A. 74-4902 and 74-4904 and K.S.A. 2024
Supp. 74-49,123 and repealing the existing sections.
Be it enacted by the Legislature of the State of Kansas:
Section 1. K.S.A. 74-4902 is hereby amended to read as follows:
74-4902. As used in articles 49 and 49a of chapter 74 of the Kansas
Statutes Annotated, and amendments thereto, unless otherwise provided
or the context otherwise requires:
(1) "Accumulated contributions" means the sum of all
contributions by a member to the system which are credited to the
member's account, with interest allowed thereon;
(2) "acts" means the provisions of articles 49 and 49a of the
Kansas Statutes Annotated, and amendments thereto;
(3) "actuarial equivalent" means an annuity or benefit of equal
value to the accumulated contributions, annuity or benefit, when
computed upon the basis of the actuarial tables in use by the system.
Whenever the amount of any benefit is to be determined on the basis of
actuarial assumptions, the assumptions shall be specified in a way that
precludes employer discretion;
(4) "actuarial tables" means the actuarial tables approved and in
use by the board at any given time;
(5) "actuary" means the actuary or firm of actuaries employed or
retained by the board at any given time;
(6) "agent" means the individual designated by each participating
employer through whom system transactions and communication are
directed;
(7) "beneficiary" means, subject to the provisions of K.S.A. 74-
4927, and amendments thereto, any natural person or persons, estate or
trust, or any combination thereof, named by a member to receive any
benefits as provided for by this act. Designations of beneficiaries by a
member who is a member of more than one retirement system made on
or after July 1, 1987, shall be the basis of any benefits payable under all
systems unless otherwise provided by law. Except as otherwise
provided by subsection (33) of this section (32), if there is no named
beneficiary living at the time of the member's death, any benefits
provided for by this act shall be paid to: (A) The member's surviving
spouse; (B) the member's dependent child or children; (C) the member's
dependent parent or parents; (D) the member's nondependent child or
children; (E) the member's nondependent parent or parents; or (F) the
estate of the deceased member; in the order of preference as specified
in this subsection;
(8) "board of trustees," "board" or "trustees" means the managing
body of the system which is known as the Kansas public employees
retirement system board of trustees;
(9) "compensation" means, except as otherwise provided, all
salary, wages and other remuneration payable to a member for personal
services performed for a participating employer, including maintenance
or any allowance in lieu thereof provided a member as part of
compensation, but not including reimbursement for travel or moving
expenses or on and after July 1, 1994, payment pursuant to an early
retirement incentive program made prior to the retirement of the
member. Beginning with the employer's fiscal year which that begins in
calendar year 1991 or for employers other than the state of Kansas,
beginning with the fiscal year which that begins in calendar year 1992,
when the compensation of a member who remains in substantially the
same position during any two consecutive years of participating service
used in calculating final average salary is increased by an amount

SENATE BILL No. 64—page 2
which exceeds 15%, then the amount of such increase which exceeds
15% shall not be included in compensation, except that: (A) Any
amount of compensation for accumulated sick leave or vacation or
annual leave paid to the member; (B) any increase in compensation for
any member due to a reclassification or reallocation of such member's
position or a reassignment of such member's job classification to a
higher range or level; and (C) any increase in compensation as provided
in any contract entered into prior to January 1, 1991, and still in force
on the effective date of this act, pursuant to an early retirement
incentive program as provided in K.S.A. 72-5395 et seq., and
amendments thereto, shall be included in the amount of compensation
of such member used in determining such member's final average
salary and shall not be subject to the 15% limitation provided in this
subsection. Any contributions by such member on the amount of such
increase which exceeds 15% which is not included in compensation
shall be returned to the member. Unless otherwise provided by law,
beginning with the employer's fiscal year coinciding with or following
July 1, 1985, compensation shall include any amounts for tax sheltered
annuities or defer