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Minutes for SB505 - Committee on Financial Institutions and Insurance
Short Title
Increasing the KPERS retirement benefit multiplier for members who are security officers of the department of corrections.
Minutes Content for Tue, Mar 5, 2024
Chairperson Longbine greeted members, and welcomed conferees and guests. He opened the hearing on SB505.
David Wiese, Sr. Assistant Revisor, Revisor of Statutes Office (ROS), presented the Revisor's Memorandum brief and stood for questions. There were none. (Attachment 1)
Alan Conroy, Executive Director, Kansas Public Employee Retirement System (KPERS) presented informational testimony pertaining to the KPERS multiplier. He told members that SB505 would change the benefit multiplier for KPERS-Correctional members to 2% for any member who retires after July 1, 2024. He continued his presentation using several charts in his written statement. (Attachment 2) He also spoke about the Actuarial Cost Estimate; the need for some Clarifying Amendments; and an Administrative Cost Estimate. Mr. Conroy received comments and questions from Chairperson Longbine, and Senators Pittman, Warren, Fagg, Dietrich, and Gossage.
Senator Jeff Pittman, Senatorial District 5, Leavenworth, Kansas, presented testimony in support of SB505. He told members that he has many corrections workers in his district who understand the value of consistency of safety and security in the workforce. They know what it means to be in a constant state of awareness as they work with some of the most dangerous criminals in Kansas. They know how it feels to get off the job and still be wary for their own and their families' safety. Some would say that raising the multiplier from 1.85% to 2% percent is not enough, but it's a step in the right direction. (Attachment 3) Senator Pittman answered a question from Senator Fagg.
David Gorges, Corrections Counselor, Hutchinson Correctional Facility, Hutchinson, Kansas, also testified in person in support of SB505. He related that this bill is a good approach to improving the retirement benefit for corrections officers, while recognizing concerns from policymakers about moving corrections officers into KP&F. By adjusting the multiplier within the existing plan to 2%, it is a positive move to improve retirement benefits for corrections officers without causing financial burden on the state budget, or dramatically impacting the KPERS Unfunded Liability (UAL). (Attachment 4) Mr. Gorges stood for questions. There were none.
The Chairperson pointed the members' attention to the written-only proponent testimony submitted from:
Jeff Zmuda, Secretary, Kansas Department of Corrections (Attachment 5)
Sara LaFrenz, President, Kansas Organization of State Employees (KOSE) (Attachment 6)
Wyatt Smith, Correctional Officer II, Larned State Correctional Facility, Great Bend, Kansas (Attachment 7)
There being no other proponent, opponent, or neutral testimony submitted at this time, Chairperson Longbine closed the hearing on SB505, and pointed the members' attention to HB2560.
