State Codes and Statutes

Statutes > Kansas > Chapter20 > Article26 > Statutes_11216

20-2621

Chapter 20.--COURTS
Article 26.--RETIREMENT SYSTEM FOR JUSTICES AND JUDGES

      20-2621.   Purchase of additional benefits for servicecredit by certain judges.(1) Any judge, who first became a member of the retirement systemfor judges after attaining age 60 years, may elect to purchase additionalbenefits for service credit under the retirement system for judges. In no caseshall a judge be entitled to purchase additional benefits as provided in thissection if the judge's number of years of credited service and number of yearsof service credit purchased as provided in this section exceeds 15 years. Thebenefit for each such year of service credit purchased as provided in thissection shall be as provided in K.S.A. 20-2610 and amendments thereto. Suchbenefit shall be based on the annual compensation of such judge at the time thejudge purchases such additional benefits. Subject to the provisions ofK.S.A. 74-49,123 and amendments thereto, such member may purchasesuchadditional benefits by making application therefor prior to date ofretirement and making a single lump-sum payment representing the amount that ajudge would normally contribute under the system had the years of servicecredit purchased by the judge as provided in this section actually been yearsof credited service. Such lump-sum payment shall be based onan amount equal to the then present value of the benefits being purchasedas determined by the actuary using the judge's attained age, annualcompensation at the time of purchase and the actuarial assumptions andtables then in use by this system. The lump-sum payment shall be madeon the date specifiedby the board.

      (2)   The provisions of this section shall take effect on and after July 1,1994.

      History:   L. 1994, ch. 293, § 36;L. 1998, ch. 64, § 21; July 1.

State Codes and Statutes

Statutes > Kansas > Chapter20 > Article26 > Statutes_11216

20-2621

Chapter 20.--COURTS
Article 26.--RETIREMENT SYSTEM FOR JUSTICES AND JUDGES

      20-2621.   Purchase of additional benefits for servicecredit by certain judges.(1) Any judge, who first became a member of the retirement systemfor judges after attaining age 60 years, may elect to purchase additionalbenefits for service credit under the retirement system for judges. In no caseshall a judge be entitled to purchase additional benefits as provided in thissection if the judge's number of years of credited service and number of yearsof service credit purchased as provided in this section exceeds 15 years. Thebenefit for each such year of service credit purchased as provided in thissection shall be as provided in K.S.A. 20-2610 and amendments thereto. Suchbenefit shall be based on the annual compensation of such judge at the time thejudge purchases such additional benefits. Subject to the provisions ofK.S.A. 74-49,123 and amendments thereto, such member may purchasesuchadditional benefits by making application therefor prior to date ofretirement and making a single lump-sum payment representing the amount that ajudge would normally contribute under the system had the years of servicecredit purchased by the judge as provided in this section actually been yearsof credited service. Such lump-sum payment shall be based onan amount equal to the then present value of the benefits being purchasedas determined by the actuary using the judge's attained age, annualcompensation at the time of purchase and the actuarial assumptions andtables then in use by this system. The lump-sum payment shall be madeon the date specifiedby the board.

      (2)   The provisions of this section shall take effect on and after July 1,1994.

      History:   L. 1994, ch. 293, § 36;L. 1998, ch. 64, § 21; July 1.


State Codes and Statutes

State Codes and Statutes

Statutes > Kansas > Chapter20 > Article26 > Statutes_11216

20-2621

Chapter 20.--COURTS
Article 26.--RETIREMENT SYSTEM FOR JUSTICES AND JUDGES

      20-2621.   Purchase of additional benefits for servicecredit by certain judges.(1) Any judge, who first became a member of the retirement systemfor judges after attaining age 60 years, may elect to purchase additionalbenefits for service credit under the retirement system for judges. In no caseshall a judge be entitled to purchase additional benefits as provided in thissection if the judge's number of years of credited service and number of yearsof service credit purchased as provided in this section exceeds 15 years. Thebenefit for each such year of service credit purchased as provided in thissection shall be as provided in K.S.A. 20-2610 and amendments thereto. Suchbenefit shall be based on the annual compensation of such judge at the time thejudge purchases such additional benefits. Subject to the provisions ofK.S.A. 74-49,123 and amendments thereto, such member may purchasesuchadditional benefits by making application therefor prior to date ofretirement and making a single lump-sum payment representing the amount that ajudge would normally contribute under the system had the years of servicecredit purchased by the judge as provided in this section actually been yearsof credited service. Such lump-sum payment shall be based onan amount equal to the then present value of the benefits being purchasedas determined by the actuary using the judge's attained age, annualcompensation at the time of purchase and the actuarial assumptions andtables then in use by this system. The lump-sum payment shall be madeon the date specifiedby the board.

      (2)   The provisions of this section shall take effect on and after July 1,1994.

      History:   L. 1994, ch. 293, § 36;L. 1998, ch. 64, § 21; July 1.