Senate Status:
2023 Statute
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74-4986p. (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. |
History: L. 2015, ch. 77, § 9; L. 2016, ch. 76, § 9; L. 2019, ch. 50, § 6; L. 2023, ch. 46, § 3; April 27. |
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