72-5395.Early retirement incentive programs;establishment authorized; purposes; payment limitations; program reportrequired.(a) The board of education of any school district may establish an earlyretirementincentive program for the benefit of the employees of the district forretirement prior to the retirement age asprovided pursuant to 42 U.S.C. 416(l)(1) of the social security act as ineffect on the effective date of this act.As used in this act, an "early retirement incentive program" is a programthat provides cash payments, either in the form of a lump-sum payment atthe beginning of the fiscal year, or in regular payments during the fiscalyear.No payment pursuant to an early retirement incentive program as provided inthis section shall be made prior to the retirement under the provisions of theKansas public employees retirement system for any employee of the district.
(b) Commencing in the fiscal year that commenced in calendar year 2002 andevery three years thereafter, each board that has established an earlyretirement incentive program shall prepare and submit a report to the stateboard of education related to such early retirement incentive program. Suchreport shall contain: (1) Three years of budget data of such program, includingactual costs, and current year and future years' budget data for three to fiveyears; (2) current costs and benefits of such program and projected costs andbenefits of such program for three to five years; (3) current and projectednumber ofparticipants in such program; and (4) such otherinformation as required by the state board of education. The state board ofeducation shall design and distribute forms to carry out the provisions of thisact to the board of education of each school district that has established anearly retirement incentive program. The state board ofeducation shall compile and prepare a summary report which shall be submittedtothe joint committee on pensions, investments and benefits no later than January1 of the year that follows the end of the fiscal year in which the reporting isrequired as provided in this subsection.
72-5395.Early retirement incentive programs;establishment authorized; purposes; payment limitations; program reportrequired.(a) The board of education of any school district may establish an earlyretirementincentive program for the benefit of the employees of the district forretirement prior to the retirement age asprovided pursuant to 42 U.S.C. 416(l)(1) of the social security act as ineffect on the effective date of this act.As used in this act, an "early retirement incentive program" is a programthat provides cash payments, either in the form of a lump-sum payment atthe beginning of the fiscal year, or in regular payments during the fiscalyear.No payment pursuant to an early retirement incentive program as provided inthis section shall be made prior to the retirement under the provisions of theKansas public employees retirement system for any employee of the district.
(b) Commencing in the fiscal year that commenced in calendar year 2002 andevery three years thereafter, each board that has established an earlyretirement incentive program shall prepare and submit a report to the stateboard of education related to such early retirement incentive program. Suchreport shall contain: (1) Three years of budget data of such program, includingactual costs, and current year and future years' budget data for three to fiveyears; (2) current costs and benefits of such program and projected costs andbenefits of such program for three to five years; (3) current and projectednumber ofparticipants in such program; and (4) such otherinformation as required by the state board of education. The state board ofeducation shall design and distribute forms to carry out the provisions of thisact to the board of education of each school district that has established anearly retirement incentive program. The state board ofeducation shall compile and prepare a summary report which shall be submittedtothe joint committee on pensions, investments and benefits no later than January1 of the year that follows the end of the fiscal year in which the reporting isrequired as provided in this subsection.
72-5395.Early retirement incentive programs;establishment authorized; purposes; payment limitations; program reportrequired.(a) The board of education of any school district may establish an earlyretirementincentive program for the benefit of the employees of the district forretirement prior to the retirement age asprovided pursuant to 42 U.S.C. 416(l)(1) of the social security act as ineffect on the effective date of this act.As used in this act, an "early retirement incentive program" is a programthat provides cash payments, either in the form of a lump-sum payment atthe beginning of the fiscal year, or in regular payments during the fiscalyear.No payment pursuant to an early retirement incentive program as provided inthis section shall be made prior to the retirement under the provisions of theKansas public employees retirement system for any employee of the district.
(b) Commencing in the fiscal year that commenced in calendar year 2002 andevery three years thereafter, each board that has established an earlyretirement incentive program shall prepare and submit a report to the stateboard of education related to such early retirement incentive program. Suchreport shall contain: (1) Three years of budget data of such program, includingactual costs, and current year and future years' budget data for three to fiveyears; (2) current costs and benefits of such program and projected costs andbenefits of such program for three to five years; (3) current and projectednumber ofparticipants in such program; and (4) such otherinformation as required by the state board of education. The state board ofeducation shall design and distribute forms to carry out the provisions of thisact to the board of education of each school district that has established anearly retirement incentive program. The state board ofeducation shall compile and prepare a summary report which shall be submittedtothe joint committee on pensions, investments and benefits no later than January1 of the year that follows the end of the fiscal year in which the reporting isrequired as provided in this subsection.
