Terms Used In Kansas Statutes > Chapter 74 > Article 49 - Public Employees Retirement Systems

• Accumulated contributions: means the sum of all contributions by a member to the system which shall be credited to such member's account, with interest allowed thereon, plus such member's contributions transferred from the school employees savings fund of the state school retirement system;

  (2) "compensation" means the same as defined in subsection (9) of Kan. See Kansas Statutes 74-4932

• 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

• Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
• Amortization: Paying off a loan by regular installments.
• Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
• Appraisal: A determination of property value.
• Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
• Arrest: Taking physical custody of a person by lawful authority.
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
• Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. ^{Source: OCC}
• compensation: means the same as such term is defined in Kan. See Kansas Statutes 74-49,202
• Conservator: means an individual or corporation appointed by the court to act on behalf of a conservatee and possessed of some or all of the powers and duties set out in Kan. See Kansas Statutes 77-201
• Contract: A legal written agreement that becomes binding when signed.
• Conviction: A judgement of guilt against a criminal defendant.
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Court reporter: A person who makes a word-for-word record of what is said in court and produces a transcript of the proceedings upon request.
• covered position: means a position with an affiliated employer that is eligible for membership in the Kansas public employees retirement system pursuant to the provisions of Kan. See Kansas Statutes 74-49,202
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Dependent: A person dependent for support upon another.
• DROP account: means the notional account to which is credited the monthly DROP accrual;

  (5) "DROP period" means the period of time that a member elects to participate in the DROP pursuant to Kan. See Kansas Statutes 74-4986l

• Educational institution: means any state educational institution under the control and supervision of the state board of regents; and

  (b) "university police officer" means university police officers employed by the chief executive officer of any educational institution. See Kansas Statutes 74-4986f

• elected state official: means any member of the legislature, or a former member of the legislature, the governor, the lieutenant governor, the secretary of state, the attorney general, the commissioner of insurance and the state treasurer; and any person who formerly served in any such capacity who has 10 or more years of credited service and who has not yet retired or withdrawn such person's accumulated contributions. See Kansas Statutes 74-4998b
• Electronic funds transfer: The transfer of money between accounts by consumer electronic systems-such as automated teller machines (ATMs) and electronic payment of bills-rather than by check or cash. (Wire transfers, checks, drafts, and paper instruments do not fall into this category.) ^{Source: OCC}
• employee: means the same as such term is defined in Kan. See Kansas Statutes 74-49,202
• entry date: means the entry date as of which an eligible employer joins the system. See Kansas Statutes 74-49,202
• Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. ^{Source: U.S. Courts}
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• executive director: means the managing officer of the system as defined in subsection (16) of Kan. See Kansas Statutes 74-4932
• Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. ^{Source: OCC}
• Fiduciary: A trustee, executor, or administrator.
• final average salary: means the average highest annual salary, as defined in Kan. See Kansas Statutes 74-49,202
• first employed: means an employee has not been an employee in a covered position of any participating employer prior to July 1, 2009, and is employed by a participating employer in a covered position on or after July 1, 2009; an employee who is a former member of the system who withdrew contribution accounts before July 1, 2009, and who is again employed by a participating employer in a covered position on or after July 1, 2009; or an employee who was an inactive non-vested member and who is again employed by a participating employer in a covered position on or after July 1, 2009;

  (8) "inactive, non-vested member" means a member who has terminated employment with a participating employer and who does not have a vested retirement benefit in the system on July 1, 2009;

  (9) "normal retirement date" means the date on or after which a member may retire with all retirement benefits pursuant to Kan. See Kansas Statutes 74-49,202

• Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
• Fraud: Intentional deception resulting in injury to another.
• Garnishment: Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtor
• Incompetent person: includes disabled persons and incapacitated persons as defined herein. See Kansas Statutes 77-201
• Insured disability benefit recipient: means any person receiving an insured disability benefit under Kan. See Kansas Statutes 74-49,109
• Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. ^{Source: OCC}
• Joint committee: Committees including membership from both houses of teh legislature. Joint committees are usually established with narrow jurisdictions and normally lack authority to report legislation.
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• Legacy: A gift of property made by will.
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
• Local school annuitant: means (1) any person who is an annuitant with 10 or more years of service who is receiving an annuity from a school district maintaining a separate retirement system and whose annuity is not included, in whole or in part, in payments made to such school district under Kan. See Kansas Statutes 74-49,109
• 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

• military service: means the same as defined in subsection (22) of Kan. See Kansas Statutes 74-4932
• Minor: means any person defined by Kan. See Kansas Statutes 77-201
• Month: means a calendar month, unless otherwise expressed. See Kansas Statutes 77-201
• normal retirement age: means the attainment of age 65 with completion of five years of credited service, or 60 with the completion of 30 years of credited service;

  (10) "plan" means the plan established within the Kansas public employees retirement system by Kan. See Kansas Statutes 74-49,302

• normal retirement date: means the same as defined in subsection (23) of Kan. See Kansas Statutes 74-4932
• Oath: A promise to tell the truth.
• Oath: includes an affirmation in all cases where an affirmation may be substituted for an oath, and in similar cases "swear" includes affirm. See Kansas Statutes 77-201
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• participating employer: means an eligible employer who has agreed to make contributions to the system on behalf of its employees first hired on or after July 1, 2009. See Kansas Statutes 74-49,202
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• Presiding officer: A majority-party Senator who presides over the Senate and is charged with maintaining order and decorum, recognizing Members to speak, and interpreting the Senate's rules, practices and precedents.
• Probate: Proving a will
• Property: includes personal and real property. See Kansas Statutes 77-201
• Quorum: The number of legislators that must be present to do business.
• Recess: A temporary interruption of the legislative business.
• Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
• Reporter: Makes a record of court proceedings and prepares a transcript, and also publishes the court's opinions or decisions (in the courts of appeals).
• Retirant: means (1) any person who is a member of a retirement system and who has retired prior to July 2, 1987, (2) any person who is a special member of a retirement system and who has retired prior to July 2, 1987, (3) any person who is a joint annuitant or beneficiary of any member described in clause (1) or of any special member described in clause (2), (4) any local school annuitant, and (5) any insured disability benefit recipient. See Kansas Statutes 74-49,109
• retirement annuity account: means the account established for employer credits of members under Kan. See Kansas Statutes 74-49,302
• 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
• salary: means the same as such term is defined in Kan. See Kansas Statutes 74-49,202
• school employment: means the employment of a member when employed by an eligible employer as specified in any of subsection (1), (2) or (3) of Kan. See Kansas Statutes 74-4932
• school year: means the twelve-month period beginning September 1 and ending August 31;

  (4) "employee" means any employee of a participating employer which is an eligible employer, as specified in Kan. See Kansas Statutes 74-4932

• Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
• 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
• Trustee: A person or institution holding and administering property in trust.
• USERRA: means the same as defined in subsection (34) of Kan. See Kansas Statutes 74-4932