HB 1299 - This act modifies provisions of the Public School Retirement System of Kansas City.

This act modifies disability provisions so that application for benefits may be made up to 6 months after the member ceases to be an active member, and allows such member to make optional allowances for beneficiaries.

This act modifies the calculation of the disability allowance. Currently, there is a minimum benefit of 25% of the final average compensation. This act provides that the allowance is the lesser of 25% of final average compensation, or the service retirement allowance calculated as if the member had worked until age 60.

This act also modifies Cost of Living Adjustment (COLA) provisions. Currently, a member is eligible for a COLA if he is at least 65 years of age and retired for at least 14 months. This act provides that a member is eligible for a COLA on the fourth January after retirement.

This act also makes some technical changes. The act clarifies a provision regarding disabled retirants who can work by limiting the provision only to retirants who have not reached the minimum normal retirement age. Additionally, this act clarifies that return of accumulated contributions for members applies to those persons who are unvested.

This act is similar to SB 761 (1998).
MARGARET J. TOALSON