|HB 0086||K.C. Police & Civilian Retirement-Military Service Credit|
|Sponsor:||RIZZO||Handling House Bill:|
|Last Action:||04/12/95 - Hearing Conducted S Elections, Pensions & Veterans' Affairs Com.|
|Effective Date:||August 28, 1995|
HB 86 - This act will permit members of the Kansas City Police Department and members of the Kansas City Civilian Retirement System who are veterans of military service to purchase up to two years of prior service credit in their respective retirement systems. Those persons who wish to purchase this prior military service must pay the full actuarial value of the benefits to be purchased.
Members of these retirement systems on August 28, 1995 will have until August 28, 1997 to elect to make such purchase. Persons who become members subsequent to August 28, 1995 will have two years after becoming members to elect to make the purchase.
With respect to Kansas City Police Department, the act also amends the definition of "accumulated contributions" so that it includes all amounts paid for the purchase of prior military service credit.
With respect to the Kansas City Civilian Retirement System, the act also contains provisions on a supplemental health insurance retirement benefit of $50 per month from retirement to age 65, and clarifies the return of accumulated contributions on the death of a member and eliminates the need to keep these subaccounts in the Civilian Retirement System.
This act essentially is the same as SCS/SB 140 & 145.