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Minutes for HB2140 - Committee on Financial Institutions and Insurance
Short Title
Allowing agents of the KBI to participate in the Kansas DROP act and extending the sunset date for the act.
Minutes Content for Tue, Mar 19, 2019
Chairman Olson opened the hearing on the bill and called for a Statute of Revisor overview of the bill. Eileen Ma provided the overview. She explained that the bill would expand the sunset to the Deferred Retirement Option Program (DROP) pilot program and adds KP&F program eligibility for KP&F KBI members.
Chairman Olson called for testimony on the bill.
Proponent Kirk Thompson indicated that the inclusion of the KBI in the DROP program would assist KPERS in further evaluating the program for other KP&F participants. (Attachment 2)
Proponent Col. Mark Bruce explained that the DROP program helps to alleviate staffing challenges and strongly urged the committee to support the extension of the program sunset date. (Attachment 3)
Neutral Alan Conroy outlined the actuarial cost impact and administrative costs of the bill.
