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Minutes for SB121 - Committee on Financial Institutions and Insurance
Short Title
Permitting local eligible employers to affiliate with KP&F with regard to coverage of certain local corrections employees.
Minutes Content for Wed, Feb 20, 2019
Chairman Olson opened discussion on the bill and called for a review of the bill and proposed amendment. Eileen Ma provided the review. She noted that the amendment provided a language change that would probably nullify committee's concerns regarding the bill's original fiscal note.
During committee comments and questions Jarod Waltner made the following points:
- The language change of "for future service" would decrease fiscal note amount down to information technology costs that could be easily absorbed in the current KPERS budget.
- He confirmed that counties could incur an additional cost upon an employee switching systems.
- He pointed out that the option for an employee to change systems would reside with the employer not the employee.
- He clarified that while the employee could not roll-over KPERS balances to the KP&R system, the combined number of years in the two systems would be considered for vesting purposes.
Senator Wilborn motioned for the committee to accept the amendment to the bill and the motion was seconded by Senator Givens. The motion passed.
Senator Hilderbrand motioned for the committee to pass out favorably the bill as amended and the motion was seconded by Senator Givens. The motion passed.
Chairman Olson closed discussion on the bill.
