Loading chat...
KS SB202
Bill
Status
2/5/2025
Primary Sponsor
Douglas Shane
Click for details
AI Summary
-
Teachers first employed by a participating school employer on or after July 1, 2025, will be enrolled in the KPERS 2 defined benefit plan (2009 act) instead of the KPERS 3 cash balance plan (2015 act)
-
All active and inactive teacher members currently in KPERS 3 will be transferred to KPERS 2 on January 1, 2026, with all prior contributions, service credit, and benefits transferred
-
Transferred teachers are guaranteed benefits no less than what they were entitled to under KPERS 3 at the time of transfer
-
Employer contributions and interest from KPERS 3 accounts will be used to offset the cost of transferring teacher members to KPERS 2
-
"Teacher" is defined as any professional employee required to hold a certificate to teach in a school district, or any instructor at a technical college or community college
Legislative Description
Transferring teachers from the KPERS 3 cash balance plan to the KPERS 2 plan and defining teachers for purposes of KPERS.
Last Action
Senate Referred to Committee on Financial Institutions and Insurance
2/6/2025