This bill amends the Kansas Public Employees Retirement Act of 2015 by adjusting the investment return threshold for calculating the dividend interest credit and increasing the dividend share from 75% to 80%. Specifically, it modifies the provisions in K.S.A. 74-49,306 and K.S.A. 74-49,308 regarding the additional interest credits for members' annuity savings and retirement annuity accounts. The new calculation for the additional interest credit will be based on the five-year average net compound rate of return on the market value of the system's assets, with the threshold for returns adjusted from above 6% to above 5%.

Additionally, the bill repeals the existing sections of K.S.A. 74-49,306 and K.S.A. 74-49,308, which contained the previous provisions for determining the additional interest credits. The changes are intended to enhance the benefits for members of the Kansas public employees retirement system by providing a more favorable calculation for additional interest credits, thereby potentially increasing the retirement benefits for public employees in Kansas. The act will take effect upon publication in the statute book.

Statutes affected:
As Introduced: 74-49
As introduced: 74-49