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74-4986p Same; termination events.

KS Stat § 74-4986p (2018) (N/A)
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74-4986p. Same; termination events. (a) A member's participation in the DROP ceases on the occurrence of the earliest of the following:

(1) Termination of the member's active service with the Kansas highway patrol;

(2) the last day of the member's elected DROP period that begins on the effective date of the member's election to participate in the DROP;

(3) retirement due to disability as defined in K.S.A. 74-4952, and amendments thereto; or

(4) the member's death.

(b) If a member dies before taking a distribution from such member's DROP account, the member's designated beneficiary shall receive a lump-sum payment equal to the member's DROP account balance, including any lump sum credited as provided in K.S.A. 74-4986o(d), and amendments thereto. If the DROP member has not named a beneficiary for such member's DROP account, the amount in the DROP account shall be paid to the beneficiary of the member's retirement benefit.

History: L. 2015, ch. 77, § 9; L. 2016, ch. 76, § 9; July 1.

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74-4986o Same; accrual calculation; recalculation of final average salary for accumulated sick and annual leave compensation at retirement; lump sum credit.
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74-4986q Same; distributions.