Kansas Senate Bill SB505

Kansas 2023-2024 Regular Session

• Introduced: 2/13/24
• Refer: 2/14/24
• Report Pass: 3/19/24
• Failed: 4/30/24

Caption

Increasing the KPERS retirement benefit multiplier for members who are security officers of the department of corrections.

Impact

The impact of this bill primarily affects the retirement benefits of correctional security officers, acknowledging the unique challenges and risks associated with their roles. By increasing the benefit multiplier, SB505 aims to retain and incentivize personnel within the corrections sector by making their retirement packages more appealing. This could potentially enhance job satisfaction and reduce turnover rates among these vital public employees, ensuring a stronger workforce in a critical area of public service.

Summary

Senate Bill 505 aims to amend and enhance the Kansas Public Employees Retirement System (KPERS) by increasing the retirement benefit multiplier specifically for members who are security officers of the department of corrections. Under this bill, the formula for calculating retirement benefits for these security officers will be modified to ensure they receive 2% of their final average salary for each year of participating service. This change is intended to provide greater financial security for officers who often work in challenging environments.

Contention

One notable point of contention surrounding SB505 could arise from budgetary considerations within the state's retirement funding system. Critics may argue that increasing benefits for one subset of state employees could put additional financial strain on the state pension funds, which are already under pressure. Furthermore, there may be discussions about equity and fairness, as other employees in the public sector might seek similar enhancements to their own retirement benefits, leading to broader implications for state budget planning and allocation.