Kansas Public Employees Retirement System (KPERS) Calculation
Kansas Public Employees Retirement System (KPERS). With the exception of legislative retirement amounts, the employee and employer contributions are calculated by applying the appropriate percentage to the employees' benefit gross. Visit Human Resources - Benefits » for further retirement and benefits information.
Group Term Life - The death/disability employer contribution portion of the KPERS deduction is GTL (Deduction Class N). The moratorium on Group Term Life continues for all of Fiscal Year 2004 for the employer contribution.
The employee cost is decribed below in Taxable Group Life Insurance. Prior Year Service Credit - Deduction code (PRYRSV) corresponds to the benefit plan PRYRSV.
KPERS Buyback Benefit
KPER Buyback (KPERB1, KPERB2, BYBKLG) Benefit gross X 4%, 8% or an actuarially determined percentage (Legislation was introduced during the 1995 session to actuarially determine the appropriate buyback rate for each employee participating). This is employee only contribution. Employee 'buys back' at either a 'double' or 'triple' rate based on current salary. Contact Staff Benefits for more information.