This bill amends the Kansas public employees retirement system by authorizing the board of trustees to elect a vice chairperson and requiring newly affiliated employers of the Kansas police and firemen's retirement system to contribute at the actuarial required rate for both past and future service. It also repeals certain statutes related to working after retirement for state and local elected officials. The bill includes amendments to K.S.A. 74-4967 and K.S.A. 2025 Supp. 74-4905, while repealing K.S.A. 74-4915b, 74-4915c, and the existing sections of K.S.A. 2025 Supp. 74-4905.

Key changes in the bill include the election of a vice chairperson by the board instead of an appointment, and the requirement for all members of the board to have demonstrated experience in financial affairs or investment management. Additionally, the bill clarifies the contribution rates for participating employers and establishes guidelines for the payment of past service costs. The act will take effect upon publication in the statute book.

Statutes affected:
As introduced: 74-4905, 74-4915b, 74-4915c, 74-4967, 74-49