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Code · Kansas · Chapter 74 — State Boards, Commissions And Authorities

74-4919l. Repurchase of previously forfeited service credit.

153 words·~1 min read·/ks/chapter-74/74-4919l

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74-4919l. Repurchase of previously forfeited service credit. Any member of the Kansas public employees retirement system who was previously a member of the retirement system for judges or the Kansas police and firemen's retirement system and who forfeited service credit under either of those systems by reason of termination of employment and withdrawal of their contributions to that system, may elect to purchase, subject to the provisions of K.S.A. 74-49,123 , and amendments thereto, service credit for the previously forfeited service credit by means of a single lump-sum payment and such service shall be recredited to that system.
The amount of the lump-sum payment shall be determined by the actuary using the member's then current annual rate of compensation or the member's final average salary at the time the member elects to purchase such service credit, whichever is higher, and the actuarial assumptions and tables then currently in use by that retirement system.
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