74-49,307.
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/ks/chapter-74/74-49-64A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
74-49,307. Employer credits; change; employer contributions to death and disability fund.
(a)On a quarterly basis, a percentage of compensation shall be credited to each member's retirement annuity account, as follows:
(1)Three percent of compensation for each member who has less than five years of service;
(2)four percent of compensation for each member who has at least five but less than 12 years of service;
(3)five percent of compensation for each member who has at least 12 but less than 24 years of service; and
(4)six percent of compensation for each member who has 24 or more years of service.
(b)An active member's employer shall contribute a percentage of compensation, determined by the board, which must be allocated to the death and long-term disability plan under K.S.A. 74-4927 , and amendments thereto.
(c)The legislature may from time to time prospectively change employer credits provided in this section, and expressly reserves the right to do so.