Bill > SB202

This bill addresses changes to the Kansas Public Employees Retirement System (KPERS), specifically focusing on transferring teachers from the KPERS 3 cash balance plan to the KPERS 2 plan. Starting July 1, 2025, any new teachers will be enrolled in the KPERS 2009 plan, and on January 1, 2026, all active and inactive teacher members currently in the KPERS 2015 plan will be automatically transferred to the KPERS 2009 plan. The bill defines a "teacher" as any professional employee required to hold a teaching certificate who works in a school district, technical college, or community college. All existing member and employer contributions and service credit will be transferred and preserved, with a guarantee that teachers will not receive less in benefits than they were entitled to under the previous plan. The legislature intends to continue reviewing the retirement system based on a February 2024 audit report, with the goal of ensuring the system serves its intended purposes. Employer contributions and interest will be used to offset the cost of this transfer, and the board of trustees is required to execute the transfer while maintaining the system's federal tax qualification requirements.

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https://kslegislature.gov/li/b2025_26/measures/sb202/