Article 26.--RETIREMENT SYSTEM FOR JUSTICES AND JUDGES
20-2605.Employment of actuary, duties; employercontribution rate; request for appropriation; actuarial cost of newenactments.(a) The board shall select and employ or retain a qualified actuary who shallserve at its pleasure as its technical advisor on matters regarding operationof the retirement system for judges. The actuary shall:
(1) As soon after the effective date as practicable and once every threeyears thereafter, make a general investigation of the actuarial experienceunder the retirement system for judges including mortality, retirement,employment turnover and interest, and recommend actuarial tables for use invaluations and in calculating actuarial equivalent values based on suchinvestigation; make a valuation of the liabilities and reserves of theretirement system for judges, and a determination of the contributions requiredby the retirement system for judges to discharge its liabilities and recommendto the board rates of employer contributions required to establish and maintainthe retirement system for judges on an actuarial reserve basis.
(2) Perform such other duties as may be assigned by the board.
(b) Upon the basis of the actuarial valuation and appraisal and upon therecommendation of the actuary, the board shall certify, on or before July15 of each year, to the division of budget an actuarially determined estimateof the rate of contribution which will be required, together with all judges'contributions and other assets of the retirement system for judges to pay allliabilities which shall exist or accrue under the retirement system for judges,including amortization of the unfunded accrued liability as determined by theboard. The rate of contribution for the state determined under this sectionshall not include the costs of administration of the system.
(c) The division of the budget and the governor shall include in the budgetand in the budget request for appropriations for personal services the sumrequired to satisfy the state's obligation under the retirement system forjudges as certified by the board and shall present the same to thelegislature for allowance and appropriation.
(d) Except as otherwise provided by law, the actuarial cost of anylegislation enacted by the Kansas legislature, except the actuarial cost ofK.S.A. 74-49,114a, and amendments thereto, shall be reflected in the employercontribution rate in the fiscal year immediately following such enactment.
Article 26.--RETIREMENT SYSTEM FOR JUSTICES AND JUDGES
20-2605.Employment of actuary, duties; employercontribution rate; request for appropriation; actuarial cost of newenactments.(a) The board shall select and employ or retain a qualified actuary who shallserve at its pleasure as its technical advisor on matters regarding operationof the retirement system for judges. The actuary shall:
(1) As soon after the effective date as practicable and once every threeyears thereafter, make a general investigation of the actuarial experienceunder the retirement system for judges including mortality, retirement,employment turnover and interest, and recommend actuarial tables for use invaluations and in calculating actuarial equivalent values based on suchinvestigation; make a valuation of the liabilities and reserves of theretirement system for judges, and a determination of the contributions requiredby the retirement system for judges to discharge its liabilities and recommendto the board rates of employer contributions required to establish and maintainthe retirement system for judges on an actuarial reserve basis.
(2) Perform such other duties as may be assigned by the board.
(b) Upon the basis of the actuarial valuation and appraisal and upon therecommendation of the actuary, the board shall certify, on or before July15 of each year, to the division of budget an actuarially determined estimateof the rate of contribution which will be required, together with all judges'contributions and other assets of the retirement system for judges to pay allliabilities which shall exist or accrue under the retirement system for judges,including amortization of the unfunded accrued liability as determined by theboard. The rate of contribution for the state determined under this sectionshall not include the costs of administration of the system.
(c) The division of the budget and the governor shall include in the budgetand in the budget request for appropriations for personal services the sumrequired to satisfy the state's obligation under the retirement system forjudges as certified by the board and shall present the same to thelegislature for allowance and appropriation.
(d) Except as otherwise provided by law, the actuarial cost of anylegislation enacted by the Kansas legislature, except the actuarial cost ofK.S.A. 74-49,114a, and amendments thereto, shall be reflected in the employercontribution rate in the fiscal year immediately following such enactment.
Article 26.--RETIREMENT SYSTEM FOR JUSTICES AND JUDGES
20-2605.Employment of actuary, duties; employercontribution rate; request for appropriation; actuarial cost of newenactments.(a) The board shall select and employ or retain a qualified actuary who shallserve at its pleasure as its technical advisor on matters regarding operationof the retirement system for judges. The actuary shall:
(1) As soon after the effective date as practicable and once every threeyears thereafter, make a general investigation of the actuarial experienceunder the retirement system for judges including mortality, retirement,employment turnover and interest, and recommend actuarial tables for use invaluations and in calculating actuarial equivalent values based on suchinvestigation; make a valuation of the liabilities and reserves of theretirement system for judges, and a determination of the contributions requiredby the retirement system for judges to discharge its liabilities and recommendto the board rates of employer contributions required to establish and maintainthe retirement system for judges on an actuarial reserve basis.
(2) Perform such other duties as may be assigned by the board.
(b) Upon the basis of the actuarial valuation and appraisal and upon therecommendation of the actuary, the board shall certify, on or before July15 of each year, to the division of budget an actuarially determined estimateof the rate of contribution which will be required, together with all judges'contributions and other assets of the retirement system for judges to pay allliabilities which shall exist or accrue under the retirement system for judges,including amortization of the unfunded accrued liability as determined by theboard. The rate of contribution for the state determined under this sectionshall not include the costs of administration of the system.
(c) The division of the budget and the governor shall include in the budgetand in the budget request for appropriations for personal services the sumrequired to satisfy the state's obligation under the retirement system forjudges as certified by the board and shall present the same to thelegislature for allowance and appropriation.
(d) Except as otherwise provided by law, the actuarial cost of anylegislation enacted by the Kansas legislature, except the actuarial cost ofK.S.A. 74-49,114a, and amendments thereto, shall be reflected in the employercontribution rate in the fiscal year immediately following such enactment.
