74-4986p. Termination events.
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/ks/chapter-74/74-4986pA research copy — for the controlling text, always check the official state or federal source. Not legal advice.
74-4986p. Termination events.
(a)A member's participation in the DROP ceases on the occurrence of the earliest of the following:
(1)Termination of the member's active service with a participating employer of the system;
(2)the last day of the member's elected DROP period that begins on the effective date of the member's election to participate in the DROP;
(3)retirement due to disability as defined in K.S.A. 74-4952 , and amendments thereto; or
(4)the member's death.
(b)If a member dies before taking a distribution from such member's DROP account, the member's designated beneficiary shall receive a lump-sum payment equal to the member's DROP account balance, including any lump sum credited as provided in K.S.A. 74-4986o (d), and amendments thereto. If the DROP member has not named a beneficiary for such member's DROP account, the amount in the DROP account shall be paid to the beneficiary of the member's retirement benefit.