Session of 1999
         
SENATE BILL No. 275
         
By Senator Lee
          
2-9
          
  9             AN  ACT concerning the Kansas public employees retirement system;
10             relating to certain correctional employees; normal retirement date;
11             amending K.S.A. 74-4914c and repealing the existing section.
12      
13       Be it enacted by the Legislature of the State of Kansas:
14             Section  1. K.S.A. 74-4914c is hereby amended to read as follows: 74-
15       4914c. (1) Notwithstanding the provisions of K.S.A. 74-4914, 74-4915 and
16       subsection (23) of K.S.A. 74-4902, and amendments thereto, the normal
17       retirement date for all security officers, as defined by paragraph (a) or (b)
18       of subsection (1) of K.S.A. 74-4914a and amendments thereto, with at
19       least three consecutive years of service as such security officer immedi-
20       ately preceding the date of retirement, shall be the first day of the month
21       coinciding with or following the attainment of age 55 and, and com-
22       mencing July 1, 1999, the first day of the month coinciding with or fol-
23       lowing the date that the total of the number of years of credited service
24       and the number of years of attained age of the security officer is equal to
25       or more than 85. Any such security officer may retire before such normal
26       retirement date on the first day of any month coinciding with or following
27       the attainment of age 50 or completion of 10 years of credited service,
28       whichever occurs later.
29             (2)  (a) Except as otherwise provided in paragraph (b) of this subsec-
30       tion (2), any security officer, as defined by paragraph (a) or (b) of sub-
31       section (1) of K.S.A. 74-4914a and amendments thereto, who retires be-
32       fore the normal retirement date shall receive an annual retirement benefit
33       equal to the annual retirement benefit payable had such security officer
34       retired on the normal retirement date but based upon such security of-
35       ficer's final average salary and years of participating and prior service
36       credited to the date of actual retirement reduced by an amount equal to
37       the product of (i) such annual retirement benefit payable had such se-
38       curity officer retired on the normal retirement date, multiplied by (ii) the
39       product of .6% multiplied by the number of months difference, to the
40       nearest whole month, between such security officer's attained age at the
41       time of retirement and age 55.
42             (b) Any security officer, as defined by paragraph (a) or (b) of subsec-
43       tion (1) of K.S.A. 74-4914a and amendments thereto, who retires on or

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  1       after July 1, 1982, and prior to July 1, 1987, before the normal retirement
  2       date shall receive an annual retirement benefit equal to the annual re-
  3       tirement benefit payable had such security officer retired on the normal
  4       retirement date but based upon such security officer's final average salary
  5       and years of participating and prior service credited to the date of actual
  6       retirement reduced by an amount equal to the product of (i) such annual
  7       retirement benefit payable had such security officer retired on the normal
  8       retirement date, multiplied by (ii) the product of .3% multiplied by the
  9       number of months difference, to the nearest whole month, between such
10       security officer's attained age at the time of retirement and age 55.
11             (c) Any security officer, as defined by paragraph (a) or (b) of subsec-
12       tion (1) of K.S.A. 74-4914a and amendments thereto, who retires on or
13       after July 1, 1990, before the normal retirement date shall receive an
14       annual retirement benefit equal to the annual retirement benefit payable
15       had such security officer retired on the normal retirement date but based
16       upon such security officer's final average salary and years of participating
17       and prior service credited to the date of actual retirement reduced by an
18       amount equal to the product of (i) such annual retirement benefit payable
19       had such security officer retired on the normal retirement date, multi-
20       plied by (ii) the product of .2% multiplied by the number of months
21       difference, to the nearest whole month, between such security officer's
22       attained age at the time of retirement and age 55.
23             (3) Notwithstanding the provisions of K.S.A. 74-4914, 74-4915 and
24       subsection (23) of K.S.A. 74-4902, the normal retirement date for all
25       security officers, as defined by paragraph (c), (d), (e) or (f) of subsection
26       (1) of K.S.A. 74-4914a and amendments thereto, with at least three con-
27       secutive years of service as such security officer immediately preceding
28       the date of retirement, shall be the first day of the month coinciding with
29       or following the attainment of age 60 and any such security officer may
30       retire before such normal retirement date on the first day of any month
31       coinciding with or following the attainment of age 55 or completion of
32       10 years of credited service, whichever occurs later.
33             (4) (a) Except as otherwise provided in paragraph (b) of this subsec-
34       tion (4), any security officer, as defined by paragraph (c), (d), (e) or (f) of
35       subsection (1) of K.S.A. 74-4914a and amendments thereto, who retires
36       before the normal retirement date shall receive an annual retirement
37       benefit equal to the annual retirement benefit payable had such security
38       officer retired on the normal retirement date but based upon such se-
39       curity officer's final average salary and years of participating and prior
40       service credited to the date of actual retirement reduced by an amount
41       equal to the product of (i) such annual retirement benefit payable had
42       such security officer retired on the normal retirement date, multiplied by
43       (ii) the product of .6% multiplied by the number of months difference,

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  1       to the nearest whole month, between such security officer's attained age
  2       at the time of retirement and age 60.
  3             (b) Any security officer, as defined by paragraph (c), (d), (e) or (f) of
  4       subsection (1) of K.S.A. 74-4914a and amendments thereto, who retires
  5       on or after July 1, 1982, and prior to July 1, 1987, before the normal
  6       retirement date shall receive an annual retirement benefit equal to the
  7       annual retirement benefit payable had such security officer retired on the
  8       normal retirement date but based upon such security officer's final av-
  9       erage salary and years of participating and prior service credited to the
10       date of actual retirement reduced by an amount equal to the product of
11       (i) such annual retirement benefit payable had such security officer re-
12       tired on the normal retirement date, multiplied by (ii) the product of .3%
13       multiplied by the number of months difference, to the nearest whole
14       month, between such security officer's attained age at the time of retire-
15       ment and age 60.
16             (c) Any security officer, as defined by paragraph (c), (d), (e) or (f) of
17       subsection (1) of K.S.A. 74-4914a and amendments thereto, who retires
18       on or after July 1, 1990, before the normal retirement date shall receive
19       an annual retirement benefit equal to the annual retirement benefit pay-
20       able had such security officer retired on the normal retirement date but
21       based upon such security officer's final average salary and years of par-
22       ticipating and prior service credited to the date of actual retirement re-
23       duced by an amount equal to the product of (i) such annual retirement
24       benefit payable had such security officer retired on the normal retirement
25       date, multiplied by (ii) the product of .2% multiplied by the number of
26       months difference, to the nearest whole month, between such security
27       officer's attained age at the time of retirement and age 60. 
28       Sec.  2. K.S.A. 74-4914c is hereby repealed.
29        Sec.  3. This act shall take effect and be in force from and after its
30       publication in the statute book.