This bill amends the Kansas public employees retirement system to provide a post-retirement cost-of-living adjustment for certain retirees aged 85 and older. Specifically, it stipulates that starting from July 1, 2025, each eligible retirant will receive an increase of $150 per month in their retirement benefit, pension, or annuity payments. This adjustment is applicable to those who are 85 years of age or older on that date and who are entitled to receive such payments from the retirement system.

The bill defines "retirant" to include members of the retirement system who meet the age requirement, as well as joint annuitants or beneficiaries of those members. It clarifies that the retirement system encompasses various retirement plans, including those for public employees, police and fire personnel, state school employees, and judges. The provisions of this act are intended to supplement existing laws related to the retirement system and will take effect upon publication in the statute book.