Session of 1998
HOUSE BILL No. 2771
By Representatives Sloan, Ballard, Findley and
Glasscock
2-2
9
AN ACT concerning the Kansas public employees
retirement system and
10 systems thereunder;
creating the Kansas public employees retirement
11 advisory council;
relating to membership and election, purposes and
12 compensation thereof;
system transactions and communications with
13 members; amending
K.S.A. 1997 Supp. 74-4902 and 74-4909 and re-
14 pealing the existing
sections.
15
16 Be it enacted by the Legislature of the
State of Kansas:
17 New Section 1. (a)
There is hereby created the Kansas public em-
18 ployees retirement advisory council. The
council shall study the benefits
19 and costs of the Kansas public employees
retirement system and systems
20 thereunder. The council shall conduct a
continuing study and analysis of
21 the retirement system as provided in
subsection (c) and shall present
22 recommendations to the board of trustees of
the Kansas public employees
23 retirement system as the council deems
advisable.
24 (b) (1) The council
shall consist of 11 members of which: (A) Five
25 members shall be active and contributing
members of the retirement
26 system; (B) two members shall be retirants
of the retirement system; and
27 (C) four members appointed by the governor
shall be representatives of
28 participating employers.
29 (2) Each member of the
council as described in subsections (b)(1)(A)
30 and (b)(1)(B) shall be elected by the
members and retirants of the re-
31 tirement system. The members of the council
appointed by the governor
32 shall be as follows: (A) One member
representing local government par-
33 ticipating employers from a list of three
nominees as recommended to
34 the governor by the league of
municipalities; (B) one member repre-
35 senting school participating employers from
a list of three nominees as
36 recommended to the governor by the Kansas
association of school boards;
37 (C) one member representing the Kansas
police and firemen's retirement
38 system participating employers; and (D) the
secretary of administration
39 or an appointee of the secretary.
40 (3) Inactive members
shall not be eligible to be elected to the council
41 nor to elect the members of the council as
provided in this section. No
42 more than 2 members elected as provided in
this section may be from
43 the same participating employer nor from
the same state agency. All
HB 2771
2
1 members shall serve three-year terms.
A vacancy on the council related
2 to one of the members appointed by
the governor shall be filled for the
3 unexpired term by the governor in the
same manner as the original ap-
4 pointment. A vacancy on the council
related to one of the members
5 elected as provided in this section
shall be filled as provided by rules and
6 regulations adopted by the board as
provided in this section. The board
7 of trustees of the retirement system
shall adopt rules and regulations
8 providing the requirements and
procedures for the election of members
9 of the council and for the filling of
any vacancy on the council.
10 (c) The council shall
study and analyze the retirement system with
11 emphasis on the following: Benefits and
costs thereof including unifor-
12 mity of benefits; appropriateness and
enhancement of benefits for retir-
13 ants; investment strategies and policies of
the system including analysis
14 of appropriateness and proportion of
certain categories of investment
15 such as alternative investments, real
estate investments, foreign invest-
16 ments and derivatives; contribution rates
to ensure long-term fiscal
17 well-being of the system including
comparison of employee and employer
18 contribution rates; methods and content of
communications with mem-
19 bers; and other matters agreed to by the
council and the board of trustees.
20 (d) Meetings of the
council shall be called by the chairperson and
21 shall be held at least twice each year,
with one meeting held in November
22 or December of each year but at least 15
days prior to the convening of
23 the ensuing legislative session. A majority
of the council shall constitute
24 a quorum and no action shall be taken by
the council unless approved by
25 at least five voting members. The council
shall organize by selecting a
26 chairperson and vice-chairperson, and such
other officers as it deems
27 necessary. The executive secretary of the
retirement system shall serve
28 as secretary of the council. All
secretarial services needed by the council
29 shall be provided by the retirement system
and all operating expenses of
30 the council shall be paid by such
system.
31 (e) Members of the
council attending meetings of such council, or
32 attending a subcommittee meeting thereof
authorized by such council,
33 shall be paid amounts provided in
subsection (e) of K.S.A. 75-3223 and
34 amendments thereto.
35 (f) For purposes of this
act, ``retirement system'' means the Kansas
36 public employees retirement system, the
Kansas police and firemen's re-
37 tirement system, the retirement system for
judges and the state school
38 retirement system.
39 Sec. 2. K.S.A. 1997
Supp. 74-4902 is hereby amended to read as
40 follows: 74-4902. As used in articles 49
and 49a of chapter 74 and amend-
41 ments thereto, unless otherwise provided or
the context otherwise re-
42 quires:
43 (1) ``Accumulated
contributions'' means the sum of all contributions
HB 2771
3
1 by a member to the system which are
credited to the member's account,
2 with interest allowed thereon;
3 (2) ``acts'' means
K.S.A. 74-4901 to 74-4929, inclusive, and amend-
4 ments thereto;
5 (3) ``actuarial
equivalent'' means an annuity or benefit of equal value
6 to the accumulated contributions,
annuity or benefit, when computed
7 upon the basis of the actuarial
tables in use by the system;
8 (4) ``actuarial
tables'' means the actuarial tables approved and in use
9 by the board at any given time;
10 (5) ``actuary'' means
the actuary or firm of actuaries employed or
11 retained by the board at any given
time;
12 (6) ``agent'' means the
individual designated by each participating em-
13 ployer through whom system transactions and
;c/ommunication commu-
14 nications are directed, except
for system transactions and communications
15 as provided in K.S.A. 74-4909 and
amendments thereto;
16 (7) ``beneficiary''
means any natural person or persons or estate
17 named by a member to receive any benefits
as provided for by this act.
18 Designations of beneficiaries by a member
who is a member of more
19 than one retirement system made on or after
July 1, 1987, shall be the
20 basis of any benefits payable under all
systems unless otherwise provided
21 by law. Except as otherwise provided by
subsection (33) of this section,
22 if there is no named beneficiary living at
time of member's death, any
23 benefits provided for by this act shall be
paid to: (A) The member's sur-
24 viving spouse; (B) the member's dependent
child or children; (C) the
25 member's dependent parent or parents; (D)
the member's nondependent
26 child or children; (E) the member's
nondependent parent or parents; (F)
27 the estate of the deceased member; in the
order of preference as specified
28 in this subsection. Any payment made to a
named beneficiary shall be a
29 full discharge and release to the system
from any further claims. Any
30 payment made to a beneficiary as provided
in clauses (A), (B), (C), (D),
31 (E) or (F) of this subsection, as
determined by the board, shall be a full
32 discharge and release to the system from
any further claims. Whenever
33 any payment is payable to more than one
beneficiary such payment shall
34 be made to such beneficiaries jointly. Any
benefits payable to a benefi-
35 ciary or beneficiaries who are minor
children or incompetent persons
36 shall be made in the name of the
beneficiary or beneficiaries and deliv-
37 ered to the lawfully appointed conservator
of such beneficiaries who was
38 nominated by will or as otherwise provided
by law, except that in those
39 cases where the benefit involves only the
payment of the member's ac-
40 cumulated contributions with interest as
provided by this act in an amount
41 not to exceed $500, the board is hereby
authorized in its discretion with-
42 out the appointment of a conservator or the
giving of a bond to pay such
43 amount as is due to the minor or minors
themselves, any payment so
HB 2771
4
1 made shall be a full discharge and
release to the system from any further
2 claims;
3 (8) ``board of
trustees,'' ``board'' or ``trustees'' means the managing
4 body of the system which is known as
the Kansas public employees re-
5 tirement system board of
trustees;
6
(9) ``compensation'' means all salary, wages and other
remuneration
7 payable to a member for personal
services performed for a participating
8 employer, including maintenance or
any allowance in lieu thereof pro-
9 vided a member as part of
compensation, but not including reimburse-
10 ment for travel or moving expenses or on
and after July 1, 1994, payment
11 pursuant to an early retirement incentive
program made prior to the
12 retirement of the member. Beginning with
the employer's fiscal year
13 which begins in calendar year 1991 or for
employers other than the state
14 of Kansas, beginning with the fiscal year
which begins in calendar year
15 1992, when the compensation of a member who
remains in substantially
16 the same position during any two
consecutive years of participating serv-
17 ice used in calculating final average
salary is increased by an amount which
18 exceeds 15%, then the amount of such
increase which exceeds 15% shall
19 not be included in compensation, except
that (A) any amount of com-
20 pensation for accumulated sick leave or
vacation or annual leave paid to
21 the member, (B) any increase in
compensation for any member due to a
22 reclassification or reallocation of such
member's position or a reassign-
23 ment of such member's job classification to
a higher range or level and
24 (C) any increase in compensation as
provided in any contract entered into
25 prior to January 1, 1991, and still in
force on the effective date of this act,
26 pursuant to an early retirement incentive
program as provided in K.S.A.
27 72-5395 et seq. and amendments thereto,
shall be included in the amount
28 of compensation of such member used in
determining such member's
29 final average salary and shall not be
subject to the 15% limitation provided
30 in this subsection. Any contributions by
such member on the amount of
31 such increase which exceeds 15% which is
not included in compensation
32 shall be returned to the member. Unless
otherwise provided by law, be-
33 ginning with the employer's fiscal year
coinciding with or following July
34 1, 1985, compensation shall include any
amounts for tax sheltered an-
35 nuities or deferred compensation plans.
Beginning with the employer's
36 fiscal year which begins in calendar year
1991, compensation shall include
37 amounts under sections 403b, 457 and 125 of
the federal internal revenue
38 code of 1986 and any other section of the
federal internal revenue code
39 of 1986 which defers or excludes amounts
from inclusion in income;
40 (10) ``credited
service'' means the sum of participating service and
41 prior service and in no event shall
credited service include any service
42 which is credited under another retirement
plan authorized under any
43 law of this state;
HB 2771
5
1 (11) ``dependent''
means a parent or child of a member who is de-
2 pendent upon the member for at least
1/2 of such parent or child's support;
3 (12) ``effective
date'' means the date upon which the system becomes
4 effective by operation of law;
5 (13) ``eligible
employer'' means the state of Kansas, and any county,
6 city, township, special district or
any instrumentality of any one or several
7 of the aforementioned or any
noncommercial public television or radio
8 station located in this state which
receives state funds allocated by the
9 Kansas public broadcasting commission
whose employees are covered by
10 social security. If a class or several
classes of employees of any above
11 defined employer are not covered by social
security, such employer shall
12 be deemed an eligible employer only with
respect to such class or those
13 classes of employees who are covered by
social security;
14 (14) ``employee'' means
any appointed or elective officer or employee
15 of a participating employer whose
employment is not seasonal or tem-
16 porary and whose employment requires at
least 1,000 hours of work per
17 year, but not including: (A) Any person
covered by or eligible for or who
18 will become eligible for a retirement
annuity under the provisions of
19 K.S.A. 74-4925 and amendments thereto
except as otherwise specifically
20 provided in subsection (3) of K.S.A.
74-4925 and amendments thereto
21 and this subsection; (B) any employee who
is a contributing member of
22 the United States civil service retirement
system; (C) any employee of an
23 eligible employer who is a participant in
public service employment under
24 title II and title VI of the federal
comprehensive employment and training
25 act of 1973; (D) any employee or class of
employees specifically exempted
26 by law. After June 30, 1975, no person who
is otherwise eligible for mem-
27 bership in the Kansas public employees
retirement system shall be barred
28 from such membership by reason of coverage
by, eligibility for or future
29 eligibility for a retirement annuity under
the provisions of K.S.A. 74-4925
30 and amendments thereto, except that no
person shall receive service
31 credit under the Kansas public employees
retirement system for any pe-
32 riod of service for which benefits accrue
or are granted under a retirement
33 annuity plan under the provisions of K.S.A.
74-4925 and amendments
34 thereto. After June 30, 1982, no person who
is otherwise eligible for
35 membership in the Kansas public employees
retirement system shall be
36 barred from such membership by reason of
coverage by, eligibility for or
37 future eligibility for any benefit under
another retirement plan authorized
38 under any law of this state, except that no
such person shall receive service
39 credit under the Kansas public employees
retirement system for any pe-
40 riod of service for which any benefit
accrues or is granted under any such
41 retirement plan. Employee shall include
persons who are in training at
42 or employed by, or both, a sheltered
workshop for the blind operated by
43 the secretary of social and rehabilitation
services. The entry date for such
HB 2771
6
1 persons shall be the beginning of the
first pay period of the fiscal year
2 commencing in calendar year 1986.
Such persons shall be granted prior
3 service credit in accordance with
K.S.A. 74-4913 and amendments
4 thereto. However, such persons
classified as home industry employees
5 shall not be covered by the
retirement system;
6 (15) ``entry
date'' means the date as of which an eligible employer
7 joins the system. The first entry
date pursuant to this act is January 1,
8 1962;
9 (16) ``executive
secretary'' means the managing officer of the system
10 employed by the board under this act;
11 (17) ``final average
salary'' means in the case of a member who retires
12 prior to January 1, 1977, and in the case
of a member who retires after
13 January 1, 1977, and who has less than five
years of participating service
14 after January 1, 1967, the average highest
annual compensation paid to
15 such member for any five years of the last
10 years of participating service
16 immediately preceding retirement or
termination of employment, or in
17 the case of a member who retires on or
after January 1, 1977, and who
18 has five or more years of participating
service after January 1, 1967, the
19 average highest annual compensation paid to
such member on or after
20 January 1, 1967, for any five years of
participating service preceding re-
21 tirement or termination of employment, or,
in any case, if participating
22 service is less than five years, then the
average annual compensation paid
23 to the member during the full period of
participating service, or, in any
24 case, if the member has less than one
calendar year of participating service
25 such member's final average salary shall be
computed by multiplying such
26 member's highest monthly salary received in
that year by 12; in the case
27 of a member who became a member under
subsection (3) of K.S.A. 74-
28 4925 and amendments thereto, or who became
a member with a partic-
29 ipating employer as defined in subsection
(3) of K.S.A. 74-4931 and
30 amendments thereto and who elects to have
compensation paid in other
31 than 12 equal installments, such
compensation shall be annualized as if
32 the member had elected to receive 12 equal
installments for any such
33 periods preceding retirement; in the case
of a member who retires after
34 July 1, 1987, the average highest annual
compensation paid to such mem-
35 ber for any four years of participating
service preceding retirement or
36 termination of employment; in the case of a
member who retires on or
37 after July 1, 1993, who was first hired as
an employee, as defined in
38 subsection (14) of K.S.A. 74-4902 and
amendments thereto, prior to July
39 1, 1993, the average highest annual
compensation, as defined in subsec-
40 tion (9), paid to such member for any four
years of participating service
41 preceding retirement or termination of
employment or the average high-
42 est annual salary, as defined in subsection
(34), paid to such member for
43 any three years of participating service
preceding retirement or termi-
HB 2771
7
1 nation of employment, whichever is
greater; and in the case of a member
2 who retires on or after July 1, 1993,
and who is first hired as an employee,
3 as defined in subsection (14) of
K.S.A. 74-4902 and amendments thereto,
4 on or after July 1, 1993, the average
highest annual salary, as defined in
5 subsection (34), paid to such member
for any three years of participating
6 service preceding retirement or
termination of employment. Final aver-
7 age salary shall not include any
purchase of participating service credit
8 by a member as provided in subsection
(2) of K.S.A. 74-4919h and
9 amendments thereto which is completed
within five years of retirement.
10 For any application to purchase or
repurchase service credit for a certain
11 period of service as provided by law
received by the system after May 17,
12 1994, for any member who will have
contributions deducted from such
13 member's compensation at a percentage rate
equal to two or three times
14 the employee's rate of contribution or will
begin paying to the system a
15 lump-sum amount for such member's purchase
or repurchase and such
16 deductions or lump-sum payment commences
after the commencement
17 of the first payroll period in the third
quarter, ``final average salary'' shall
18 not include any amount of compensation or
salary which is based on such
19 member's purchase or repurchase. Any
application to purchase or repur-
20 chase multiple periods of service shall be
treated as multiple applications.
21 For purposes of this subsection, the date
that such member is first hired
22 as an employee for members who are
employees of employers that
23 elected to participate in the system on or
after January 1, 1994, shall be
24 the date that such employee's employer
elected to participate in the sys-
25 tem;
26 (18) ``fiscal year''
means, for the Kansas public employees retirement
27 system, the period commencing July 1 of any
year and ending June 30 of
28 the next;
29 (19) ``Kansas public
employees retirement fund'' means the fund cre-
30 ated by this act for payment of expenses
and benefits under the system
31 and referred to as the fund;
32 (20) ``leave of
absence'' means a period of absence from employment
33 without pay, authorized and approved by the
employer, and which after
34 the effective date does not exceed one
year;
35 (21) ``member'' means an
eligible employee who is in the system and
36 is making the required employee
contributions, or any former employee
37 who has made the required contributions to
the system and has not re-
38 ceived a refund;
39 (22) ``military
service'' means service in the armed forces of the
40 United States or in the United States
public health service, which service
41 is immediately preceded by a period of
employment as an employee or
42 by the entering into of an employment
contract with a participating em-
43 ployer and is followed by return to
employment as an employee with the
HB 2771
8
1 same or another participating
employer within 12 months immediately
2 following discharge from such
military service, except that if the board
3 determines that such return within 12
months was made impossible by
4 reason of a service-connected
disability, the period within which the em-
5 ployee must return to employment with
a participating employer shall be
6 extended not more than two years from
the date of discharge or separa-
7 tion from military service;
8 (23) ``normal
retirement date'' means the date on or after which a
9 member may retire with full
retirement benefits pursuant to K.S.A. 74-
10 4914 and amendments thereto;
11 (24) ``participating
employer'' means an eligible employer who has
12 agreed to make contributions to the system
on behalf of its employees;
13 (25) ``participating
service'' means the period of employment after
14 the entry date for which credit is granted
a member;
15 (26) ``prior service''
means the period of employment of a member
16 prior to such member's entry date for which
credit is granted a member
17 under this act;
18 (27) ``prior service
annual salary'' means the highest annual salary,
19 not including any amounts received as
payment for overtime or as re-
20 imbursement for travel or moving expense,
received for personal services
21 by the member from the current employer in
any one of the three cal-
22 endar years immediately preceding January
1, 1962, or the entry date of
23 the employer, whichever is later, except
that if a member entered the
24 employment of the state during the calendar
year 1961, the prior service
25 annual salary shall be computed by
multiplying such member's highest
26 monthly salary received in that year by
12;
27 (28) ``retirant'' means
a member who has retired under this system;
28 (29) ``retirement
benefit'' means a monthly income or the actuarial
29 equivalent thereof paid in such manner as
specified by the member pur-
30 suant to this act or as otherwise allowed
to be paid at the discretion of
31 the board, with benefits accruing from the
first day of the month coin-
32 ciding with or following retirement and
ending on the last day of the
33 month in which death occurs. Upon proper
identification a surviving
34 spouse may negotiate the warrant issued in
the name of the retirant;
35 (30) ``retirement
system'' or ``system'' means the Kansas public em-
36 ployees retirement system as established by
this act and as it may be
37 amended;
38 (31) ``social security''
means the old age, survivors and disability in-
39 surance section of the federal social
security act;
40 (32) ``total
disability'' means a physical or mental disability which pre-
41 vents the member from engaging, for
remuneration or profit, in any oc-
42 cupation for which the member is reasonably
suited by education, training
43 or experience;
HB 2771
9
1 (33) ``trust''
means an express trust, created by a trust instrument,
2 including a will, designated by a
member to receive payment of the in-
3 sured death benefit under K.S.A.
74-4927 and amendments thereto and
4 payment of the member's accumulated
contributions under subsection
5 (1) of K.S.A. 74-4916 and amendments
thereto. A designation of a trust
6 shall be filed with the board. If
there is a designated trust at the time of
7 the member's death, the insured death
benefit for the member under
8 K.S.A. 74-4927 and amendments thereto
and the member's accumulated
9 contributions under subsection (1) of
K.S.A. 74-4916 and amendments
10 thereto shall be paid to the trust in lieu
of the member's beneficiary. If
11 no will is admitted to probate within six
months after the death of the
12 member or no trustee qualifies within such
six months or if the designated
13 trust fails, for any reason whatsoever, the
insured death benefit under
14 K.S.A. 74-4927 and amendments thereto and
the member's accumulated
15 contributions under subsection (1) of
K.S.A. 74-4916 and amendments
16 thereto shall be paid in accordance with
the provisions of subsection (7)
17 of this section as in other cases where
there is no named beneficiary living
18 at the time of the member's death and any
payments so made shall be a
19 full discharge and release to the system
from any further claims; and
20 (34) ``salary'' means
all salary and wages payable to a member for
21 personal services performed for a
participating employer, including main-
22 tenance or any allowance in lieu thereof
provided a member as part of
23 salary. Salary shall not include
reimbursement for travel or moving ex-
24 penses, payment for accumulated sick leave
or vacation or annual leave,
25 severance pay or any other payments to the
member determined by the
26 board to not be payments for personal
services performed for a partici-
27 pating employer constituting salary or on
and after July 1, 1994, payment
28 pursuant to an early retirement incentive
program made prior to the
29 retirement of the member. When the salary
of a member who remains
30 in substantially the same position during
any two consecutive years of
31 participating service used in calculating
final average salary is increased
32 by an amount which exceeds 15%, then the
amount of such increase
33 which exceeds 15% shall not be included in
salary. Any contributions by
34 such member on the amount of such increase
which exceeds 15% which
35 is not included in compensation shall be
returned to the member. Unless
36 otherwise provided by law, salary shall
include any amounts for tax shel-
37 tered annuities or deferred compensation
plans. Salary shall include
38 amounts under sections 403b, 457 and 125 of
the federal internal revenue
39 code of 1986 and any other section of the
federal internal revenue code
40 of 1986 which defers or excludes amounts
from inclusion in income. In
41 any case, if participating service is less
than three years, then the average
42 annual salary paid to the member during the
full period of participating
43 service, or, in any case, if the member has
less than one calendar year of
HB 2771
10
1 participating service such member's
final average salary shall be com-
2 puted by multiplying such member's
highest monthly salary received in
3 that year by 12.
4
Sec. 3. K.S.A. 1997 Supp. 74-4909 is hereby amended to
read as
5 follows: 74-4909. (1) The board of
trustees shall be responsible for the
6 general administration of the system,
subject to the provisions of this act.
7 (2) The board
shall establish rules and regulations for the adminis-
8 tration of the system and for the
transaction of business consistent with
9 law, which rules and regulations
shall be filed in the office of the secretary
10 of state.
11 (3) The board shall be
responsible for the installation of a complete
12 and adequate system of accounts and
records. The board shall contract
13 with the department of administration to
provide such accounting services
14 as are necessary to avoid duplication of
efforts and promote efficiency.
15 The board shall pay the department of
administration an amount not
16 exceeding the actual cost incurred in
providing this service, which pay-
17 ments shall be deposited in the state
treasury and then credited to the
18 state general fund.
19 (4) All meetings of the
board shall be open to the public. The board
20 shall keep a record of all proceedings.
21 (5) The board may
prescribe rules and regulations for the determi-
22 nation of the value of maintenance, board,
lodging, laundry and other
23 allowances to employees in lieu of
money.
24 (6) The board may adopt
all necessary actuarial tables to be used in
25 the operation of the system as recommended
by the actuary, and may
26 compile such additional data as may be
necessary for required actuarial
27 valuations and calculations.
28 (7) The board or the
investment committee may invest all cash not
29 required for current payments in securities
eligible for investment under
30 this act. All actions of the investment
committee shall be reported to the
31 board at the first meeting of the board
following the action of the in-
32 vestment committee.
33 (8) The board, as soon
after the close of the fiscal year as practical,
34 shall publish for distribution among
members a financial statement show-
35 ing the financial status of the system.
36 (9) All decisions of the
board as to questions of fact shall be final and
37 conclusive on all persons except for the
right of review as provided by
38 law and except for fraud or such gross
mistake of fact as to have an effect
39 equivalent to fraud.
40 (10) Each member's
account and records shall be administered in a
41 confidential manner and specific data
regarding the member shall not be
42 released unless authorized in writing by
the member; however, the board
43 may release information to the employer or
to other state and federal
HB 2771
11
1 agencies as the board deems
necessary.
2 (11) The board
shall develop and adopt a specific plan which outlines
3 strategies, goals, procedures and
related costs, including additional em-
4 ployees necessary to carry out the
provisions of this subsection, to provide
5 for the system's internal management
of the investment and reinvestment
6 of moneys of the fund as provided in
K.S.A. 74-4921 and amendments
7 thereto. Such internal management
would replace the management of all
8 or part of the fund by persons the
board has contracted with as provided
9 in subsection (7) of K.S.A. 74-4921
and amendments thereto. The board
10 shall report such plan developed pursuant
to this subsection to the leg-
11 islature and the governor on or before
January 1, 1993.
12 (12) The board shall
adopt rules and regulations providing the
13 requirements and procedures for the
election of members of the board
14 by members and retirants of the system as
provided in subsection (a)(2)
15 of K.S.A. 74-4905 and amendments thereto,
as such statute is amended
16 in section 1 of chapter 218 of the 1992
Session Laws, effective July 1,
17 1993, and for the filling of any vacancy
involving such elected member
18 of the board.
19 (13) The board shall
cooperate with and provide any assistance to the
20 actuary, the legislative coordinating
council and the joint committee on
21 pensions, investments and benefits related
to the independent actuarial
22 audit and evaluation as provided in K.S.A.
1997 Supp. 74-4908a and
23 amendments thereto.
24 (14) The board shall
adopt rules and regulations providing for the
25 dissemination of system transactions and
communications directly to
26 members.
27 Sec. 4. K.S.A. 1997
Supp. 74-4902 and 74-4909 are hereby repealed.
28 Sec. 5. This act
shall take effect and be in force from and after its
29 publication in the statute book.
30
31