This bill establishes a post-retirement cost-of-living adjustment for certain retirants within the Kansas Public Employees Retirement System (KPERS). It appropriates $136.4 million from the state general fund for the fiscal year ending June 30, 2026, specifically for the purpose of funding these adjustments. The bill outlines a structured increase in retirement benefits based on the date of retirement, with increments ranging from 1% to 5% depending on when the retirant retired, and caps the maximum increase at $100 per month.

Additionally, the bill defines key terms such as "insured disability benefit recipient," "retirement system," and "retirant," ensuring clarity in the application of the cost-of-living adjustments. The adjustments will apply to retirement benefits, pensions, or annuity payments accruing after June 30, 2025, and are intended to provide financial support to long-term retirants, particularly those who have been retired for at least ten years. The act will take effect upon publication in the statute book.