The bill amends the Kansas public employees retirement system to provide judges and members with the option to receive their retirement and disability benefits on a biweekly or monthly basis, effective July 1, 2026. It allows judges currently receiving benefits or those who retire on or after this date to elect their preferred payment frequency, while maintaining monthly payments as the default option for those who do not make an election. Additionally, the bill revises the calculation of retirement annuities to ensure that judges who become disabled can receive benefits based on their final average salary and years of service.

Significant changes include the repeal of existing sections K.S.A. 20-2609, 20-2610, 74-4915, and 74-4962, which modernizes the legal framework governing benefit payments. The bill also clarifies the treatment of judges as active members for certain purposes and specifies that any references to monthly benefit payments will include the biweekly equivalent. The board will determine the process for making the payment frequency election and will specify actuarial assumptions for benefit calculations, thereby reducing employer discretion. The act will take effect upon publication in the statute book, ensuring timely implementation of these new provisions.

Statutes affected:
As introduced: 20-2609, 20-2610, 74-4915, 74-4962