Kansas Statutes 74-4927b. Insured death and disability benefits and accidental death benefit for certain employees of educational institutions under state board of education; employer’s contribution; file of beneficiaries
Terms Used In Kansas Statutes 74-4927b
- Act: means the Kansas deferred retirement option program act;
(2) "board" means the board of trustees of the Kansas public employees retirement system;
(3) "DROP" means the deferred retirement option program established by Kan. See Kansas Statutes 74-4986l
- member: means any member of the Kansas police and firemen's retirement system who is eligible to participate in the DROP and who elects to participate in the DROP as provided in this act;
(7) "monthly DROP accrual" means the amount equal to the monthly retirement benefit that would have been payable to the member had the member terminated service and retired on the day the member elected; and
(8) "system" means the Kansas police and firemen's retirement system. See Kansas Statutes 74-4986l
- Retirement system: means the Kansas public employees retirement system, the Kansas police and firemen's retirement system, the state school retirement system, the Kansas highway patrol pension fund, the Kansas bureau of investigation pension fund, the Kansas retirement fund for judges, or the Kansas retirement fund for official court reporters. See Kansas Statutes 74-49,109
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Kansas Statutes 77-201
(1) For the purposes of providing the “insured death benefit” and “insured disability benefit” as prescribed in Kan. Stat. Ann. § 74-4927, and amendments thereto, and for the purposes of providing the “accidental death benefit” as prescribed in subsection (2) of Kan. Stat. Ann. § 74-4916, and amendments thereto, to those members of the faculty and other persons employed by educational institutions under the management of the state board of education who are receiving assistance in the purchase of retirement annuities as provided in Kan. Stat. Ann. § 74-4925, and amendments thereto, the term “member” as used in subsection (2) of Kan. Stat. Ann. § 74-4916, and amendments thereto, and in Kan. Stat. Ann. § 74-4927, and amendments thereto, shall include the aforementioned members of the faculty and other persons employed by educational institutions under the management of the state board of education and who are receiving such assistance.
(2) Each institution under the state board of education furnishing such assistance shall pay to the Kansas public employees retirement system in such manner as the board of trustees shall prescribe each payroll period an amount sufficient to pay the employer’s contribution to the group insurance reserve as provided in Kan. Stat. Ann. § 74-4927, and amendments thereto, and an amount sufficient to pay the amount of the employer’s contribution attributable to the accidental death benefit as prescribed in subsection (2) of Kan. Stat. Ann. § 74-4916, and amendments thereto. Subsection (2) of Kan. Stat. Ann. § 74-4932, and amendments thereto, shall also apply in determining such contributions and benefits.
(3) Each such institution under the state board of education shall maintain a file of the beneficiaries named by the persons covered under the provisions of this act in the form and manner as prescribed by the board of trustees.
(4) In the event that a member of the faculty or other person as herein defined becomes eligible for the insured disability benefit, the respective educational institutions under the board of education hereinbefore described shall continue to provide the assistance including the payment of employers and employees contributions in the purchase of the retirement annuities provided in Kan. Stat. Ann. § 74-4925, and amendments thereto, until the date of retirement.