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Bill > HB2025


KS HB2025

Authorizing a self-funded cost-of-living adjustment retirement benefit option for certain KPERS members.


summary

Introduced
01/12/2023
In Committee
01/12/2023
Crossed Over
Passed
Dead
04/30/2024

Introduced Session

2023-2024 Regular Session

Bill Summary

AN ACT concerning retirement and pensions; relating to the Kansas public employees retirement system; retirement benefits; authorizing a self- funded cost-of-living adjustment option; amending K.S.A. 74-4918 and repealing the existing section.

AI Summary

This bill authorizes a self-funded cost-of-living adjustment (COLA) retirement benefit option for certain members of the Kansas Public Employees Retirement System (KPERS). The bill amends an existing law to allow KPERS members to elect a reduced monthly retirement benefit that increases by a fixed percentage over time, as established by the KPERS board. This provides an alternative to the standard KPERS retirement benefit, allowing members to trade a smaller initial payment for an adjustable amount that accounts for the rising cost of living.

Committee Categories

Labor and Employment

Sponsors (0)

No sponsors listed

Other Sponsors (1)

Joint Committee on Pensions, Investments, and Benefits

Last Action

House Died in Committee (on 04/30/2024)

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