Kansas Statutes 74-49,102. Employee contributions for members and special members under K.S.A. 74-4999; payroll deductions
Terms Used In Kansas Statutes 74-49,102
- compensation: means the same as such term is defined in Kan. See Kansas Statutes 74-49,202
- employee: means the same as such term is defined in Kan. See Kansas Statutes 74-49,202
- executive director: means the managing officer of the system as defined in subsection (16) of Kan. See Kansas Statutes 74-4932
- 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
- system: means the Kansas public employees retirement system. See Kansas Statutes 74-49,302
Beginning with the first payroll for services performed after July 1, 1975, of each person who is a member of the Kansas public employees retirement system pursuant to subsection (b) of Kan. Stat. Ann. §§ 74-4999 and amendments thereto, the employer shall deduct from the compensation of such person 4% of such person’s compensation as employee contributions. Such deductions shall be remitted quarterly, or as the board of trustees of the Kansas public employees retirement system may otherwise provide, to the executive director of the system for credit to the Kansas public employees retirement fund. Such deductions shall be credited to the members’ individual accounts and interest shall be added annually to such accounts beginning as provided in subsection (d) of Kan. Stat. Ann. § 74-49,103 and amendments thereto.