Kansas Statutes 74-49,100. Abolition of Kansas retirement fund for official court reporters; transfer of assets to Kansas public employees retirement fund; credit of contributions; authorizing transfer endorsements; rights of members nonforfeitable
Terms Used In Kansas Statutes 74-49,100
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Contract: A legal written agreement that becomes binding when signed.
- 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
- Statute: A law passed by a legislature.
- system: means the Kansas public employees retirement system. See Kansas Statutes 74-49,302
(a) On July 1, 1975, the Kansas retirement fund for official court reporters created by Kan. Stat. Ann. § 20-2702 is hereby abolished and the state treasurer shall transfer all moneys and other assets in such Kansas retirement fund for official court reporters to the Kansas public employees retirement fund created by Kan. Stat. Ann. §§ 74-4921 and amendments thereto. For the purposes of all assets other than money, such transfer shall be at the market value of such assets at the close of business on the date of transfer, which shall be the bid price as quoted by a nationally recognized government bond dealer.
(b) On July 1, 1975, and as a part of the transfer of moneys and other assets of the Kansas retirement fund for official court reporters to the Kansas public employees retirement fund, the accounts in the Kansas public employees retirement fund of persons who become members or special members of the Kansas public employees retirement system pursuant to Kan. Stat. Ann. §§ 74-4999 and amendments thereto, shall be credited with the contributions in their respective accounts in the Kansas retirement fund for official court reporters.
(c) On and after July 1, 1975, the board of trustees of the Kansas public employees retirement system may execute transfer endorsements for any stock or security which was transferred from the Kansas retirement fund for official court reporters to the Kansas public employees retirement fund pursuant to subsection (a). Any such endorsement may be made either in the name of the Kansas public employees retirement fund or in the name of the Kansas retirement fund for judges.
(d) On and after July 1, 1975, whenever the Kansas retirement fund for official court reporters, or words of like effect, is referred to or designated by a statute or contract or other document, such reference or designation shall be deemed to apply to the Kansas public employees retirement fund.
(e) On and after July 1, 1975, whenever the Kansas official court reporters retirement board, or words of like effect, is referred to or designated by a statute or contract or other document, such reference or designation shall be deemed to apply to the board of trustees of the Kansas public employees retirement system.
(f) The rights of members of the Kansas retirement fund for official court reporters in benefits accrued to the date of termination, to the extent funded, or the amounts in such member‘s accounts are nonforfeitable.