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Minutes for SB86 - Committee on Financial Institutions and Insurance
Short Title
Conforming certain KPERS provisions with the federal CARES act.
Minutes Content for Thu, Feb 11, 2021
Chairman Longbine opened the hearing on SB86.
An overview of the bill was given by David Wiese, Assistant Revisor, Kansas Revisor of Statutes Office (ROS), who appeared via Webex remote. Mr. Wiese noted SB86 had been requested by the KPERS board of trustees during the Joint Committee on Pensions, Investments and Benefits meeting on December 2, 2020. The bill would amend the section of the KPERS act that concerns the applicability of some federal revenue code provisions to the retirement system. (Attachment 1)
Alan Conroy, Executive Director, Kansas Public Employees Retirement System (KPERS) appeared in person before the committee. He explained that SB86 is a technical bill to keep KPERS in compliance with certain IRS provisions of the federal CARES Act. (Attachment 2) Mr. Conroy answered questions from Senators Pittman and Peck.
There being no other questions or comments, and no additional proponent, opponent, or neutral testimony, Chair Longbine closed the hearing.
Senator Hilderbrand moved, seconded by Senator Gossage that SB86 be passed with favorable recommendation from the Committee. The motion carried.
