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Session of 1999
          SENATE BILL No. 251           By Committee on Ways and Means           2-4          

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  9             AN  ACT concerning the Kansas public employees retirement system;
10             authorizing purchase of prior service for certain persons.
11      
12       Be it enacted by the Legislature of the State of Kansas:
13             Section  1. Any member may purchase service for periods of service
14       in the United States volunteers in service to America (VISTA) which
15       commenced on or after January 1, 1962. At the election of the member,
16       the benefit for each such period of service shall be equal to either 1% or
17       1.75% of the final average salary of any such member. Such member may
18       purchase such service by making application therefor prior to date of
19       retirement at an additional rate of contribution in addition to the em-
20       ployee's rate of contribution as provided in K.S.A. 74-4919 and amend-
21       ments thereto, based upon the member's attained age at the time of
22       purchase and using actuarial assumptions and tables in use by the retire-
23       ment system at the time of such purchase. Such additional rate of con-
24       tribution shall commence at the beginning of the quarter following such
25       election and shall remain in effect until all quarters of such service have
26       been purchased. Any such member may purchase service as described in
27       this section by electing to effect such purchase by means of a single lump-
28       sum payment in lieu of employee contributions as provided in this section
29       in an amount equal to the then present value of the benefits being pur-
30       chased as determined by the actuary using the member's attained age,
31       annual compensation at the time of purchase and the actuarial assump-
32       tions and tables then in use by this system. The lump-sum payment shall
33       be made immediately upon being notified of the amount due. No partic-
34       ipating employer shall pay the cost, or any part thereof, of any service
35       authorized to be purchased by a member under this section. 
36        Sec.  2. This act shall take effect and be in force from and after its
37       publication in the Kansas register.