Providing a KPERS working after retirement exemption from the employer contribution rate for retirants who are employed as teachers by a school district in a position for which a certificate to teach is required.
Impact
The bill modifies the current framework governing retirants and employment in educational positions, effectively offering greater flexibility for those who wish to re-enter the workforce. This could lead to an increase in the number of retired teachers in classrooms, potentially helping to address teacher shortages in some areas. Additionally, it aligns with broader efforts to retain experienced educators who can contribute meaningfully to education while managing their retirement benefits effectively.
Summary
House Bill 2194 aims to provide specific exemptions for retirants of the Kansas Public Employees Retirement System (KPERS), particularly focusing on teachers. The bill allows retired individuals employed as teachers by school districts, in positions requiring a teaching certificate, to avoid the employer contribution rate that typically applies under existing regulations when they return to work. This change is significant for retired teachers who wish to continue their service in educational roles without penalty from the retirement system.
Contention
Despite its potential benefits, the bill may face scrutiny based on concerns surrounding alleviating financial pressures on the KPERS fund. Critics may argue that providing such exemptions could set a precedent affecting the sustainability of retirement funding, particularly as it demonstrates a willingness to alter contribution requirements for specific groups. Balancing the interests of retirees with the fiscal responsibility of the pension system will remain a critical point of discussion as this bill moves forward.
Establishing a KPERS working after retirement exemption for retirants employed by a community developmental disability organization in a licensed professional nurse, licensed practical nurse or direct support position.
Enacting the countries of concern divestment act, increasing the statutory alternative investment percentage limitation for the KPERS trust fund, increasing the amount of KPERS retirant compensation subject to the statutory employer contribution rate to the first $40,000 earned in a calendar year, providing a KPERS working after retirement exemption for retirants employed by a community developmental disability organization or a community service provider in a licensed professional nurse, licensed practical nurse or direct support position and increasing the working after retirement earnings limit for members of the Kansas police and firemen's retirement system.
Increasing the amount of retirant compensation subject to the statutory employer contribution rate to the first $50,000 of compensation earned by a retirant in a calendar year and for a period commencing July 1, 2023, and ending December 31, 2024, requiring participating employers to pay only the statutory employer contribution rate on all compensation of a retirant employed in a covered position.
Increasing the amount of retirant compensation subject to the statutory employer contribution rate to the first $40,000 earned by a retirant in a calendar year.
Reducing the waiting period for a KPERS retirant to return to work for a participating employer during a period beginning July 1, 2024, and ending July 1, 2029.
Senate Substitute for HB 2646 by Committee on Education - Transferring teachers from the KPERS 3 cash balance plan to the KPERS 2 plan and defining teachers for purposes of KPERS.
Reducing the waiting period for a KPERS retirant to return to work for a participating employer during a period beginning July 1, 2024, and ending July 1, 2029.
Enacting the countries of concern divestment act, increasing the statutory alternative investment percentage limitation for the KPERS trust fund, increasing the amount of KPERS retirant compensation subject to the statutory employer contribution rate to the first $40,000 earned in a calendar year, providing a KPERS working after retirement exemption for retirants employed by a community developmental disability organization or a community service provider in a licensed professional nurse, licensed practical nurse or direct support position and increasing the working after retirement earnings limit for members of the Kansas police and firemen's retirement system.
Increasing the amount of retirant compensation subject to the statutory employer contribution rate to the first $40,000 earned by a retirant in a calendar year.
Increasing the amount of retirant compensation subject to the statutory employer contribution rate to the first $50,000 of compensation earned by a retirant in a calendar year and for a period commencing July 1, 2023, and ending December 31, 2024, requiring participating employers to pay only the statutory employer contribution rate on all compensation of a retirant employed in a covered position.
Establishing a KPERS working after retirement exemption for retirants employed by a community developmental disability organization in a licensed professional nurse, licensed practical nurse or direct support position.