72-17,111.Same; supplemental retirement system for members ofstate system; limitations.The board is hereby authorized to establish a supplemental retirementsystem for its employees who are members of the state school retirementsystem, such supplemental retirement system to be in addition to and tosupplement the state system for retirement and payment of annuitiesprovided for in article 55 of chapter 72 of the Kansas Statutes Annotated.Such supplemental retirement system shall provide for retirementbenefits by reason of disability or on account of age and length ofservice, or both, subject only to the following limitations:
(1) Monthly benefits payable to any one annuitant under suchsupplemental retirement system shall be the actuarial equivalent of suchannuitant's accumulated credits in the supplemental retirement fund tobe created: Provided, No annuitant shall receive from suchsupplemental retirement system a monthly annuity in excess of fiftydollars ($50): Provided further, That any annuitant who was acontributing member of the separate retirement system at the time it wasabolished and who retires at age sixty-five (65) or over from thesupplemental retirement system shall receive from such supplementalretirement system an amount which, plus the amount received from thestate school retirement system, is not less than the amount which wouldhave been received by such annuitant under the separate retirementsystem;
(2) each annuitant, in order to be eligible for benefits under thesupplemental retirement system, shall have attained the age ofsixty-five (65) years, provided that such system may provide for thepayment of actuarially equivalent benefits at any time prior tosixty-five (65) but not less than sixty (60);
(3) such supplemental retirement system may also provide for minimumretirement benefits to employees whose services may be terminated byreason of disability, in accordance with rules and regulationsestablished by the board.
72-17,111.Same; supplemental retirement system for members ofstate system; limitations.The board is hereby authorized to establish a supplemental retirementsystem for its employees who are members of the state school retirementsystem, such supplemental retirement system to be in addition to and tosupplement the state system for retirement and payment of annuitiesprovided for in article 55 of chapter 72 of the Kansas Statutes Annotated.Such supplemental retirement system shall provide for retirementbenefits by reason of disability or on account of age and length ofservice, or both, subject only to the following limitations:
(1) Monthly benefits payable to any one annuitant under suchsupplemental retirement system shall be the actuarial equivalent of suchannuitant's accumulated credits in the supplemental retirement fund tobe created: Provided, No annuitant shall receive from suchsupplemental retirement system a monthly annuity in excess of fiftydollars ($50): Provided further, That any annuitant who was acontributing member of the separate retirement system at the time it wasabolished and who retires at age sixty-five (65) or over from thesupplemental retirement system shall receive from such supplementalretirement system an amount which, plus the amount received from thestate school retirement system, is not less than the amount which wouldhave been received by such annuitant under the separate retirementsystem;
(2) each annuitant, in order to be eligible for benefits under thesupplemental retirement system, shall have attained the age ofsixty-five (65) years, provided that such system may provide for thepayment of actuarially equivalent benefits at any time prior tosixty-five (65) but not less than sixty (60);
(3) such supplemental retirement system may also provide for minimumretirement benefits to employees whose services may be terminated byreason of disability, in accordance with rules and regulationsestablished by the board.
72-17,111.Same; supplemental retirement system for members ofstate system; limitations.The board is hereby authorized to establish a supplemental retirementsystem for its employees who are members of the state school retirementsystem, such supplemental retirement system to be in addition to and tosupplement the state system for retirement and payment of annuitiesprovided for in article 55 of chapter 72 of the Kansas Statutes Annotated.Such supplemental retirement system shall provide for retirementbenefits by reason of disability or on account of age and length ofservice, or both, subject only to the following limitations:
(1) Monthly benefits payable to any one annuitant under suchsupplemental retirement system shall be the actuarial equivalent of suchannuitant's accumulated credits in the supplemental retirement fund tobe created: Provided, No annuitant shall receive from suchsupplemental retirement system a monthly annuity in excess of fiftydollars ($50): Provided further, That any annuitant who was acontributing member of the separate retirement system at the time it wasabolished and who retires at age sixty-five (65) or over from thesupplemental retirement system shall receive from such supplementalretirement system an amount which, plus the amount received from thestate school retirement system, is not less than the amount which wouldhave been received by such annuitant under the separate retirementsystem;
(2) each annuitant, in order to be eligible for benefits under thesupplemental retirement system, shall have attained the age ofsixty-five (65) years, provided that such system may provide for thepayment of actuarially equivalent benefits at any time prior tosixty-five (65) but not less than sixty (60);
(3) such supplemental retirement system may also provide for minimumretirement benefits to employees whose services may be terminated byreason of disability, in accordance with rules and regulationsestablished by the board.
