The Legislature adjourned the 2024 session early this morning. 

HB 2711 is the only KPERS policy bill that was approved by the 2024 Legislature and enacted into law. The bill includes: 

  • Increase the alternatives investment cap from 15% to 25%, but maintaining a cap in statute.  
  • Increase the working after retirement threshold for the employer contribution of 30% from the current $25,000 to $40,000
  • Increase the Kansas Police and Fire Retirement System (KP&F) working after retirement income level for returning to the same employer from $25,000 to $40,000
  • Add a retirement exemption for certain hard to fill staff (licensed nurses and direct support staff) at the various Community Developmental Disabilities Organizations (CDDOs)
  • Increase in the lump-sum death benefit for beneficiaries of KPERS retirees from $4,000 to $6,000
  • Divestment from public holdings in “countries of concern” and no new public or private commitments to those countries. 

SB 291 was passed by the 2024 Legislature and will impact KPERS administration as it starts the process of consolidating cybersecurity at state agencies under the Kansas Information Technology Office (KITO). 

KPERS FY 2024 and FY 2025 budget was approved as requested by the KPERS Board of Trustees, including full funding for the pension administration system modernization. 
KPERS Related Bills

Bills Enacted into Law
KPERS omnibus legislation including alternative investment cap increase, working after retirement changes, retiree death benefit, and divestment from countries of concern. Provisions take effect July 1, 2024.

Bills Past Second Chamber 
Senate Bill 37 | KPERS Summary
Requiring state-managed funds (including KPERS) to divest from investments with "countries of concern."
***Policy amended into HB 2711***

Bills Past First Chamber 

Substitute House Bill 2103 | KPERS Summary
Eliminating the 15% cap on alternative investments and delegating selection of the alternatives cap to the Board of Trustees.
***Policy amended into HB 2711***

Senate Bill 23 | KPERS Summary
Eliminating the 15% cap on alternative investments and delegating selection of the alternatives cap to the Board of Trustees.
***Policy amended into HB 2711***
 
Increasing the KPERS lump-sum death benefit from $4,000 to $6,000.
***Policy amended into HB 2711***
 
Bills Exempt from "Turnaround" Deadline  
Enrolling teachers in KPERS 2 plan design and transferring teachers enrolled as KPERS 3 members to KPERS 2. 
 
House Bill 2739 | KPERS Summary
Requiring state-managed funds (including KPERS) to divest from investments with "countries of concern."
***Contents Amended into Senate Bill 37***
 
Senate Bill 230 | KPERS Summary
Enacting the Kansas Thrift Savings Plan
 
Abolishing KPERS 3; Transferring KPERS 3 members to KPERS 2. 
Increasing the retirement benefit multiplier for KPERS Correctional members. 

Non-exempt Bills in Original Committee (Cannot Pass Without Extra Procedural Motions)

House Bill 2563 | KPERS Summary
Authorizing a one-time, $500 postretirement benefit payment to certain retirees, beneficiaries and long-term disability recipients.
Expanding the Deferred Retirement Option Program (DROP) to KPERS employers. 
Enrolling teachers in KPERS 2 plan design and transferring teachers enrolled as KPERS 3 members to KPERS 2.  

Senate Bill 388 | KPERS Summary
Increasing the threshold for 30% employer working after retirement contributions from $25,000 to $40,000.
Reducing the working after retirement waiting period to 30 days for members who retire at or after age 62 and 60 days for members who retire prior to age 62. Provisions sunset after 5 years. 
 
Enrolling teachers in KPERS 2 plan design and transferring teachers enrolled as KPERS 3 members to KPERS 2. 
***Contents Amended into House Bill 2646***


Bills Held Over from 2023 
KP&F coverage for Department of Corrections security officers.
Expanding the KPERS 3 self-funded COLA option to KPERS 1 and KPERS 2 members. 
Providing a retiree Cost of Living Adjustment (COLA).
Abolishing KPERS 3; Transferring KPERS 3 members to KPERS 2.
KP&F Coverage for State Corrections positions and Wildlife and Parks officers. 
Environmental, Social and Governance (ESG) Investing restrictions.
Providing a retiree Cost of Living Adjustment (COLA).