Kansas Statutes 74-4996. Same; act supplemental to Kansas public employees retirement act; first retirement date
Terms Used In Kansas Statutes 74-4996
- 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
This act or acts amendatory hereof and supplemental hereto shall become a part of the Kansas public employees retirement act as defined in subsection (2) of Kan. Stat. Ann. §§ 74-4902 and shall be governed thereby in all respects, except if words and phrases herein used appear to have a different meaning, the provisions of this act shall prevail. The first retirement date under this act will be January 1, 1974. No member shall be entitled to receive the retirement benefits provided for under the provisions of this act while serving as a member of the legislature as described in Kan. Stat. Ann. § 74-4991.