| SB 0340 | Allows an equalizing COLA adjustment for certain employees of the Kansas City police retirement system |
| Sponsor: | Wheeler | |||
| LR Number: | 1263S.01I | Fiscal Note: | 1263-01 | |
| Committee: | Pensions and General Laws | |||
| Last Action: | 02/11/03 - Hearing Conducted S Pensions & General Laws Committee | Journal page: | ||
| Title: | ||||
| Effective Date: | August 28, 2003 | |||
SB 340 - This act provides an equalizing cost-of-living
adjustment (COLA) for certain retirees of the Kansas City Police
retirement system. The equalizing COLA shall not exceed 25% of
the member's base pension. The retirement board must base its
determination for granting the equalizing COLA on the advice of
the plan's actuary that the increase will not cause the present
value of the plan to exceed the sum of fund asset plus the
present value of anticipated future contributions.
CINDY KADLEC