Kansas 2025-2026 Regular Session

Kansas Senate Bill SB282

Introduced
2/28/25  

Caption

Enacting the Kansas retirement investment and savings plan (KRISP) act and establishing terms, conditions, requirements, membership elections, accounts, benefits, contributions and distributions related to such plan.

Impact

One of the significant impacts of the bill is that it introduces a defined contribution plan, differing from the traditional defined benefit plans. Active employees hired on or after July 1, 2027, will automatically be enrolled in KRISP unless they opt for the existing defined benefit system. This shift has the potential to alter the retirement landscape for new public employees, affecting how retirement benefits are accumulated and disbursed. Current members of defined benefit plans are allowed to elect to become KRISP members, giving them access to different contribution arrangements.

Summary

Senate Bill 282, known as the Kansas Retirement Investment and Savings Plan Act (KRISP), establishes a new retirement plan for public employees in Kansas, effective July 1, 2027. The bill outlines the conditions for membership, benefits, contributions, and distribution options for new employees who join participating employers after this date. The legislation aims to provide a modernized retirement system that complements existing provisions while allowing for elective contributions to a deferred compensation plan, offering members the chance to increase their retirement income through various investment options.

Contention

The introduction of KRISP has raised concerns among existing members of the Kansas public employees retirement system. Critics argue that shifting to a defined contribution framework could undermine the financial stability provided by the traditional defined benefit plans, which guarantee a specific retirement payout. Additionally, the bill allows adjustments of retirement system parameters by the legislature, which some view as a risk that could lead to reduced benefits in the future. The ongoing discussions regarding the bill reflect a divide in perspectives over the necessity and implications of reforming Kansas’s public retirement systems.

Companion Bills

No companion bills found.

Previously Filed As

KS SB230

Enacting the Kansas thrift savings plan act and establishing terms, conditions, requirements, membership elections, accounts, benefits, contributions and distributions related to such act.

KS HB2757

Enacting the adoption savings account act, allowing individuals to establish adoption savings accounts with certain financial institutions, providing eligible expenses, requirements and restrictions for such accounts and establishing addition and subtraction modifications for contributions to such accounts under the Kansas income tax act.

KS SB494

Enacting the adoption savings account act, allowing individuals to establish adoption savings accounts with certain financial institutions, providing eligible expenses, requirements and restrictions for such accounts and establishing addition and subtraction modifications for contributions to such accounts under the Kansas income tax act.

KS HB2416

Senate Substitute for HB 2416 by Committee on Assessment and Taxation - Enacting the adoption savings account act, allowing individuals to establish adoption savings accounts with certain financial institutions, providing eligible expenses, requirements and restrictions for such accounts and establishing addition and subtraction modifications for contributions to such accounts under the Kansas income tax act.

KS HB2659

Transferring teachers from the KPERS 3 cash balance plan to the KPERS 2 plan and defining teachers for purposes of KPERS.

KS SB479

Transferring teachers from the KPERS 3 cash balance plan to the KPERS 2 plan and defining teachers for purposes of KPERS.

KS HB2646

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.

KS HB2064

Establishing the Kansas employee emergency savings account (KEESA) program to allow eligible employers to establish employee savings accounts, providing an income and privilege tax credit for certain eligible employer deposits to such employee savings accounts and providing a subtraction modification for certain employee deposits to such savings accounts.

KS HB2196

Providing membership affiliation in the Kansas police and firemen's retirement system for certain law enforcement officers and employees of the Kansas department of wildlife and parks, expanding deferred retirement option program (DROP) membership to all Kansas police and firemen's retirement system members and extending the expiration date on DROP.

KS HB2465

Enacting the adoption savings account act allowing individuals to establish adoption savings accounts with certain financial institutions, providing eligible expenses, requirements and restrictions for such accounts and establishing addition and subtraction modifications for contributions to such accounts under the Kansas income tax act, increasing the income tax credit amount for adoption expenses, establishing an income, privilege and premium tax credit for contributions to eligible charitable organizations operating pregnancy centers or residential maternity facilities and providing for a sales tax exemption for purchases by pregnancy resource centers and residential maternity facilities.

Similar Bills

KS SB230

Enacting the Kansas thrift savings plan act and establishing terms, conditions, requirements, membership elections, accounts, benefits, contributions and distributions related to such act.

CA AB2770

Public employees’ retirement.

SD HB1029

Update provisions of the South Dakota Retirement System.

WV HB4540

To update all retirement plans to comport with federal law

WV SB549

Updating provisions of certain retirement and pension benefits

CA SB885

Public employees’ retirement.

CA AB2101

Public employees’ retirement.

CA SB241

Personal Income Tax: California Voluntary Contribution Program.