Committee advances Senate Bill 435 to change KPERS procedures
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Summary
The Senate Committee on Financial Institutions and Insurance advanced Senate Bill 435, which would amend KPERS statutes on vice‑chair election procedure and contribution-rate treatment for affiliating employers and repeal obsolete 'working after retirement' rules.
The Senate Committee on Financial Institutions and Insurance advanced Senate Bill 435 out of committee on Thursday after staff summarized the bill’s changes to KPERS statutes.
Staff explained the bill would amend provisions about the board’s vice‑chair election (moving to an internal board election rather than appointment after chair selection), change how contribution rates are applied to affiliating KPERS employers by requiring the actuarially required rate rather than a set 16% first‑year rate for past service, and repeal two obsolete provisions about working after retirement.
During discussion, staff referred to K.S.A. 74‑3004 regarding appointment authority and walked the committee through the affected statutory sections. Senator Fagg moved the bill favorably out of committee; the motion was seconded and approved by voice vote with no recorded opposition. Staff said the bill will be sent to the Senate floor.
What happens next: The bill will proceed to the Senate floor for further consideration.