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Committee hears technical KPERS bill to elect vice chair and require actuarial contribution rates for affiliating employers
Summary
Senate Bill 435 would change KPERS board procedure to elect its vice chair rather than have the chair appoint the vice chair, require affiliating employers to pay actuarially required contribution rates in the first year, and repeal two obsolete 'working after retirement' statutes; KPERS staff described the bill as technical with no actuarial impact.
The Senate Financial Institutions and Insurance Committee heard testimony on Senate Bill 435, a set of technical amendments to statutes governing KPERS (the Kansas Public Employees Retirement System).
Adviser Eileen told the committee the bill would change existing language so that the KPERS board elects a vice chair rather than having the newly elected chair appoint…
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