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 9  AN ACT concerning the department of administration; relating to ad-
10    ministration of the deferred compensation plan for public officers and
11    employees; prescribing competitive bidding procedures; amending
12    K.S.A. 75-5523 and repealing the existing section.
13
14  Be it enacted by the Legislature of the State of Kansas:
15    Section 1.  K.S.A. 75-5523 is hereby amended to read as follows: 75-
16  5523. (a) The director is authorized to establish a deferred compensation
17  plan in accordance with the federal revenue act of 1978, Public Law No.
18  95-600, subject to the approval of the secretary of administration. Such
19  plan shall be the Kansas public employees deferred compensation plan.
20  All powers and duties heretofore conferred by such plan upon the advi-
21  sory committee on deferred compensation are hereby transferred to the
22  director of personnel services or the director's designees.
23    (b)  The director may enter into an agreement or agreements with
24  approved insurers or other contracting parties whereby benefits under
25  the Kansas public employees deferred compensation plan would be made
26  available to those participants who contract with the director for deferred
27  compensation under K.S.A. 75-5524, and amendments thereto. In addi-
28  tion, the director may enter into an agreement with one or more qualified
29  private firms for consolidated billing services, participant enrollment serv-
30  ices, participant accounts and other services related to the administration
31  of the Kansas public employees deferred compensation plan.
32    (c)  No significant costs shall be incurred by the state as a result of
33  the administration of this act unless such costs are recovered by charging
34  and collecting a service charge from all participants and in addition
35  thereto or in lieu thereof, where the director has entered into agreements
36  with one or more qualified private firms under subsection (b), are recov-
37  ered from such firms. The amount of any such significant costs incurred
38  and to be recovered by the state shall be determined by the director.
39    (d)  Subject to the approval of the secretary of administration, The
40  director is authorized to negotiate and enter into contracts with qualified
41  insurers and other contracting parties for the purposes of establishing a
42  the Kansas public employees deferred compensation plan, including ac-
43  quisition of actuarial and other services necessary therefor under this
SB 253
                                     

 1  section. The director shall advertise for deferred compensation proposals,
 2  shall negotiate with not less than three firms or other contracting parties
 3  submitting such proposals, and shall select from among those submitting
 4  such proposals the firm or firms or other contracting party or parties to
 5  contract with for purposes of establishing a deferred compensation plan.
 6  All contracts entered into under this act shall not be subject to be entered
 7  into pursuant to competitive bids in accordance with K.S.A. 75-3739 and
 8  75-3740, and amendments thereto. Each existing contract that was en-
 9  tered into under this section prior to the effective date of this act shall be
10  terminated at the end of the current term of such contract and shall not
11  be renewed, continued or otherwise extended beyond such term unless
12  the contracting party under such contract is the successful bidder under
13  competitive bidding conducted in accordance with such statutes.
14    Sec. 2.  K.S.A. 75-5523 is hereby repealed.
15    Sec. 3.  This act shall take effect and be in force from and after its
16  publication in the statute book.