2006 Kansas Code - 74-4919f

      74-4919f.   Election to repurchase; lump-sum payment; determination of amount. In the event that a member, who elects to repurchase previously forfeited service credit, also elects to effect such repurchase by means of a single lump-sum payment, such member may do so, subject to the provisions of K.S.A. 74-49,123 and amendments thereto, by paying the amount determined by the actuary using the member's then current annual rate of compensation and the actuarial assumptions and tables then currently in use by the retirement system. Any member who elects repurchase by a single lump-sum payment shall make such payment in lieu of the increased amount of the employee's contribution rate otherwise provided for in this act.

      History:   L. 1971, ch. 255, § 5; L. 1998, ch. 64, § 42; July 1.