74-49a,138 Participating service credit for certain employees; lump sum payment.

KS Stat § 74-49a,138 (2018) (N/A)

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74-49a138. Participating service credit for certain employees; lump sum payment. Notwithstanding the provisions of K.S.A. 74-4902, 74-4911, 74-4913 and 74-4936a to the contrary, an employee who was born on August 16, 1915, who was first employed in the public schools of Kansas in the school year 1967-68, who became a member of the Kansas public employees retirement system on January 1, 1971, and forfeited all service credit on December 30, 1974, by reason of termination and withdrawal of contributions, and who was again employed by a participating employer on August 23, 1978, shall be a member of the Kansas public employees retirement system on the effective date of this act. Such member may elect to purchase additional benefits under K.S.A. 74-4936a if such election and purchase is made within six (6) months of the effective date of this act. Such member may purchase participating service credit for the period from August 23, 1978, to the date of membership under the provisions of this section by making a lump sum payment under this section equivalent to four percent (4%) of the compensation paid to such member for personal services during such period. Such payment must be made within six (6) months of the effective date of this act.

History: L. 1979, ch. 238, § 5; May 18.

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74-49a,139 Prior service credit for certain employees; basis for computation.