Kansas SB282 establishes the Kansas Retirement Investment and Savings Plan (KRISP) for public employees.
Kansas SB282 creates the Kansas Retirement Investment and Savings Plan (KRISP) for public employees, aiming to provide retirement income. Employees first employed on or after July 1, 2027, can elect to join KRISP. Active members contribute 6% of their compensation to their mandatory contribution account, while employers contribute 4% of compensation plus additional percentages based on member contributions to a deferred compensation plan. The plan offers various investment options and lifetime annuity options. Members can roll over contributions from other eligible retirement plans.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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