74-4915a. Retirement benefits for members ineligible due to a reduction in hours.

251 words·~1 min read·/ks/chapter-74/74-4915a

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(a)Except as otherwise provided in subsection (b), any member of the system who becomes eligible for another retirement plan authorized under any law of this state or who becomes ineligible for the Kansas public employees retirement plan due to a reduction of hours, who:

(1)Has not been granted a vested retirement benefit in the system as provided in K.S.A. 74-4917 , and amendments thereto; and

(2)has reached the early or normal retirement dates as provided in K.S.A. 74-4914 , and amendments thereto, shall be eligible to receive a retirement benefit based on such member's years of service and have interest credited annually to such member's account from the time the member first becomes eligible under this subsection and for so long as they remain eligible under the provisions of this subsection notwithstanding the fact that such member has not been granted a vested retirement benefit as provided in K.S.A. 74-4917 , and amendments thereto. Receipt of such retirement benefit shall be as otherwise provided by law.

(b)If the status of such member is no longer as described in subsection (a), the vesting requirements specified by K.S.A. 74-4917 , and amendments thereto shall be applicable to such member.

(c)The provisions of this section shall be part of and supplemental to the provisions of K.S.A. 74-4901 et seq., and amendments thereto.

(d)The provisions of this section shall be effective on and after July 1, 2000.