Kansas Statutes Chapter 74. State Boards, Commissions and Authorities § 74-4986l. Deferred retirement option program (DROP); definitions

(1) “Act” means the Kansas deferred retirement option program act;

(2) “board” means the board of trustees of the Kansas public employees retirement system;

(3) “DROP” means the deferred retirement option program established by K.S.A. 74-4986m, and amendments thereto;

(4) “DROP account” means the notional account to which is credited the monthly DROP accrual;

(5) “DROP period” means the period of time that a member elects to participate in the DROP pursuant to K.S.A. 74-4986n, and amendments thereto;

(6) “member” means any member of the Kansas police and firemen's retirement system who is eligible to participate in the DROP and who elects to participate in the DROP as provided in this act;

(7) “monthly DROP accrual” means the amount equal to the monthly retirement benefit that would have been payable to the member had the member terminated service and retired on the day the member elected; and

(8) “system” means the Kansas police and firemen's retirement system.