Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Sb 435 Kpers topic
No spam. Unsubscribe anytime.
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 a vice chair. The bill would also require employers affiliating with KP&F (police and fire) to pay the actuarially required contribution rate immediately rather than a statutory 16% placeholder for the first year in some affiliation cases. Finally, the bill repeals two obsolete provisions governing working after retirement (KSA 74‑49‑15b and 74‑49‑15c).
Alan Conroy, executive director of KPERS, said the measure was requested by the KPERS board and framed it as technical and clarifying. Conroy noted that employer contribution rates for affiliating police and fire employers historically used a statutory figure because earlier actuarial tools were limited; with modern actuarial methods, the board can determine and require the proper actuarial rate in year one. He confirmed the bill would have no fiscal or actuarial impact on KPERS valuations and said the current vice chair would serve the remainder of their term with the election change taking effect July 1 if enacted.
The hearing closed with no opposition testimony. Committee members had no further questions and the panel closed the hearing on SB 435.
