Kan. Admin. Regs. § 88-10-1 - [Revoked]
Current through Register Vol. 40, No. 39, September 30, 2021
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88-10-1. Purchase of annuities; conditions. A program for the purchase of voluntary tax-sheltered annuities is hereby established for the members of the faculty and other eligible employees, as defined in K.S.A. 74-4925(1)(a), and any amendments thereto. The maximum amount to be contributed on behalf of each participating employee, including the contributions for employer-purchased annuities for the retirement plan described in K.S.A. 74-4925(1)(b) and K.S.A. 74-4925(1)(c), and any amendments thereto, shall be limited by the provisions of the internal revenue code of 1954 as amended. Such voluntary tax-sheltered annuities shall be purchased by the board of regents for those eligible employees who voluntarily reduce their salaries to provide the funds with which to purchase such annuities. The board of regents shall designate one or more basic retirement plan providers. The contributions dedicated to the plan as provided for in K.S.A. 74-4925(1)(b) and K.S.A. 74-4925(1)(c), and any amendments thereto, shall continue to be maintained for all present employees and all eligible new employees. (Authorized by K.S.A. 1984 Supp. 74-4925; implementing K.S.A. 1984 Supp. 74-4925; effective, E-74-12, Dec. 28, 1973; effective May 1, 1975; amended, T-85-31, Nov. 14, 1984; amended May 1, 1985.)