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Kansas Statutes Chapter 74. State Boards, Commissions and Authorities § 74-49,307. Employer credits; change; employer contributions to death and disability fund

Current as of January 01, 2025 | Updated by Findlaw Staff

(a) On a quarterly basis, a percentage of compensation shall be credited to each member's retirement annuity account, as follows:

(1) Three percent of compensation for each member who has less than five years of service;

(2) four percent of compensation for each member who has at least five but less than 12 years of service;

(3) five percent of compensation for each member who has at least 12 but less than 24 years of service; and

(4) six percent of compensation for each member who has 24 or more years of service.

(b) An active member's employer shall contribute a percentage of compensation, determined by the board, which must be allocated to the death and long-term disability plan under K.S.A. 74-4927, and amendments thereto.

(c) The legislature may from time to time prospectively change employer credits provided in this section, and expressly reserves the right to do so.

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Cite this article: FindLaw.com - Kansas Statutes Chapter 74. State Boards, Commissions and Authorities § 74-49,307. Employer credits; change; employer contributions to death and disability fund - last updated January 01, 2025 | https://codes.findlaw.com/ks/chapter-74-state-boards-commissions-and-authorities/ks-st-sect-74-49-307/

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