The bill amends various sections of the Kansas public employees retirement system (KPERS) to modernize its framework and ensure compliance with federal regulations. Key changes include clarifying definitions related to the retirement system, such as "accumulated contributions," "actuarial equivalent," and "final average salary." It also extends the timeframe for filing administrative appeals from 30 to 60 days and updates provisions regarding trust designations and the definition of "salary." The bill specifies that if a trust designation is not filed or a will is not probated within six months of a member's death, benefits will be distributed according to existing provisions for cases without a living beneficiary.

Additionally, the bill introduces new provisions regarding compensation, particularly in relation to federal tax codes, and ensures that employees in qualified military service receive compensation equivalent to what they would have earned if not absent. It clarifies the treatment of forfeitures and contributions exceeding federal limits, while also addressing the handling of back pay and eligible rollover distributions. The bill repeals certain outdated sections of existing law to streamline the legal language and enhance clarity for members and administrators of the retirement system. Overall, the amendments aim to improve the efficiency and compliance of KPERS with federal standards.

Statutes affected:
As introduced: 74-4902, 74-4904, 74-49
As Amended by House Committee: 74-4902, 74-4904, 74-49
Enrolled: 74-4902, 74-4904, 74-49