Session of 1998
SENATE BILL No. 512
By Senator Karr
1-27
9
AN ACT concerning the Kansas public employees
retirement system;
10 relating to the
retirement system for judges; purchase of service credit
11 for certain military
service.
12
13 Be it enacted by the Legislature of the
State of Kansas:
14 Section 1. (1) Any
member of the retirement system for judges may
15 purchase participating credit for periods
of active service in the armed
16 forces of the United States or in the
commissioned corps of the United
17 States public health service and for
periods of service required to fulfill
18 the requirements of section 651 of title
10, United States code, which
19 does not exceed six years. Such judge shall
be entitled to purchase one
20 quarter of participating service credit for
each year of service required to
21 fulfill the requirements of section 651 of
title 10, United States code.
22 Such purchase shall be effected by the
judge submitting proof of such
23 service acceptable to the board and
electing in writing to have employee
24 contributions as provided in K.S.A. 20-2603
and amendments thereto
25 deducted from such judge's compensation at
an additional rate of con-
26 tribution, in addition to the employee's
rate of contribution as provided
27 in K.S.A. 20-2603 and amendments thereto,
based upon the judge's at-
28 tained age at the time of purchase and
using actuarial assumptions and
29 tables in use by the retirement system at
such time of purchase for such
30 periods of service. Such additional rate of
contribution shall commence
31 at the beginning of the quarter following
such election and shall remain
32 in effect until all of the full quarters of
such service have been purchased.
33 (2) Any member of the
retirement system who has not retired may
34 purchase participating service credit for
military service as described in
35 this section by electing to effect such
purchase by means of a single lump-
36 sum payment in lieu of employee
contributions as provided in this section.
37 The lump-sum payment shall be an amount
determined by the actuary
38 using the judge's then current annual rate
of compensation, the actuarial
39 assumptions and tables currently in use by
the retirement system and the
40 judge's attained age. No participating
employer shall pay all or any part
41 of the cost of any additional participating
service credit to be purchased
42 by means of a lump-sum payment by a judge
under this section.
SB 512
2
1 Sec. 2. This
act shall take effect and be in force from and after its
2 publication in the statute book.
3