This bill amends the Kansas public employees retirement system to allow security officers employed by the Department of Corrections to affiliate with the Kansas police and firemen's retirement system (KP&F) starting July 1, 2025. It defines "security officer" in accordance with existing law and mandates that the Department of Corrections apply for this affiliation. Upon affiliation, the department will be responsible for making employer contributions to the retirement system, and security officers will become members of the KP&F system, subject to its provisions. The bill also stipulates that employee contributions will be deducted from the compensation of these officers at a rate of 7.15%.
Additionally, the bill provides for the purchase of participating service credit for security officers who have not yet retired. These officers can buy credit for their previous service in the Kansas public employees retirement system at an additional contribution rate based on their age and actuarial assumptions. They may also opt to make a lump-sum payment to purchase this service credit. All purchased service credit will be recredited to the KP&F system, ensuring that these officers can benefit from their prior service when calculating retirement benefits.