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Classified Retirement
KPERS RETIREMENT FOR CLASSIFIED EMPLOYEES:
The Kansas Public Employees Retirement System (KPERS) was established in 1961 for State of Kansas public employees to provide a defined benefit pension plan. KPERS membership is mandatory for all employees in eligible positions regardless of age.
CONTRIBUTIONS
Employees become members at the time of employment and begin contributing to KPERS. Employee contributions are fixed by statute at 4% of gross compensation for employees hired prior to July 1, 2009 and at 6% for employees hired after July 1, 2009 and are excluded from gross income for federal income tax purposes. Employer contributions may fluctuate depending on the funding needs of KPERS. Interest earned Is credited annually.
VESTING
Once vested with five years of service credit, employees are guaranteed a monthly retirement benefit for the rest of their life.
LEAVING KPERS BEFORE RETIREMENT
If you leave covered employment, you can choose to withdraw your contributions plus interest. You will give up all Retirement System rights and benefits, and employer contributions made on your behalf stay with the Retirement System. The decision to withdraw could affect your financial future, especially if you have many years of public service and accumulated contributions.
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KPERS |
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E-Mail - kpers@kpers.org |
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Kansas Public Employees Retirement System |