20-2625. Purchase of participating service credit for certain military service.
20-2625
20-2625. Purchase of participating service creditfor certain military service.(1) Any member of the retirement system for judges may purchase, subject to theprovisions of K.S.A. 74-49,123, and amendments thereto, participating creditfor periods of active service in the armed forces of the United States or inthe commissioned corps of the United States public health service and forperiods of service required to fulfill the requirements of section 651 of title10, United States code, which does not exceed six years. Such judge shall beentitled to purchase one quarter of participating service credit for each yearof service required to fulfill the requirements of section 651 of title 10,United States code. Such purchase shall be effected by the judge submittingproof of such service acceptable to the board and electing in writing to haveemployee contributions as provided in K.S.A. 20-2603 and amendments theretodeducted from such judge's compensation at an additional rate of contribution,in addition to the employee's rate of contribution as provided in K.S.A.20-2603 and amendments thereto, based upon the judge's attained age at the timeof purchase and using actuarial assumptions and tables in use by the retirementsystem at such time of purchase for such periods of service. Such additionalrate of contribution shall commence at the beginning of the quarter followingsuch election and shall remain in effect until all of the full quarters of suchservice have been purchased.
(2) Any member of the retirement system who has not retired may purchase,subject to the provisions of K.S.A. 74-49,123, and amendments thereto,participating service credit for military service as described in this sectionby electing to effect such purchase by means of a single lump-sum payment inlieu of employee contributions as provided in this section. The lump-sumpayment shall be an amount determined by the actuary using the judge's thencurrent annual rate of compensationor the judge's final average salary atthe time the judge elects to purchase such service credit, whichever ishigher,the actuarial assumptions and tables currently in useby the retirement system and the judge's attained age.
History: L. 1998, ch. 201, § 47;L. 2000, ch. 152, § 7;L. 2006, ch. 143, § 2; July 1.