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DA Memo - July 30, 2004
New legislation allows members to designate separate beneficiaries for retirement benefits and life insurance benefits. Previously, when a KPERS member named a beneficiary, all of his or her benefits went to the same beneficiary. Members can now name separate beneficiaries for:
The law provides for a two-step implementation process.
Step One: Now Through December 31, 2004
Glenn Deck, Executive Director
Step Two: Beginning January 1, 2005
Important for Members to Know
Please remind members that instead of a loved one receiving returned contributions when the member dies, a spouse can receive a continuing monthly benefit for the rest of his or her life if the member meets one of these situations when he or she dies:
Members who designate their spouse as sole primary beneficiary can still name contingent beneficiaries.
What You Need to Do
The next issue of KPERS Papers will announce the 2005 KPERS board of trustees election and ask for interested candidates.
All active and retired members (except Judges) are eligible to become candidates. To get on the ballot, members need to complete a petition form that includes 100 signatures from eligible active and retired members. If the potential candidate is a school member, all signers must be school members. If the potential candidate is a non-school member, all signers must be non-school members. Potential candidates can get the necessary forms and information from our web site or by calling the KPERS InfoLine. The petition deadline is November 30, 2004.
What You Need to Do
Issued by U.S. Citizenship and Immigration Services, an Alien Registration Receipt Card, more commonly known as a "green card," gives immigrants the legal right to permanently live and work in the United States. Green card holders also receive health, education and other benefits. If you have an employee with a green card who is working in a covered position, that employee is eligible to become a member and required to make contributions to the Retirement System.
All members working for employers that affiliated on or after January 1, 1994, (including future service only) are limited to a three-year final average salary with no add-on pay. "Add-on pay" is any additional compensation from your employer including pay for:
When determining final average salary for a member, you must look at the date your employer affiliated with each system (KPERS, KP&F or Judges). Even if a member has an inactive KPERS or KP&F account with an old affiliation date, that member is limited to a three-year final average salary with no add-on pay if your current employer affiliated on or after January 1, 1994.
If a member previously worked for a different employer and the add-on pay was being paid at the time the member left that employer, a four-year final average salary with add-on pay can be used for that previous system benefit only.
Reference: K.S.A. 74-4902 (17)
When he retires under his KP&F, we will only calculate a three-year
final average salary with no add-on pay. Even if he retires under both
systems at the same time, he is limited to a three-year final average
salary with no add-on pay for his KP&F benefit. If portability applies,
salaries from both systems may be used, but the salary calculation from
the employer with the affiliation date of January 1, 1994, or later
may not include any add-on pay.