Investment Agreement - Mandatory Retirement Plan (Kansas Board of Regents) (PER-13)
Fill out the Investment Agreement - Mandatory Retirement Plan (Kansas Board of Regents) (PER-13) (pdf)
The KBOR Mandatory Retirement Plan (“Plan”) is a defined contribution IRC 403(b) retirement plan. Contributions are made by payroll deduction on a pre-tax basis and are taxed when distributed, except that distributions may be exempt from State of Kansas income tax. Faculty and other Unclassified employees participate in the KBOR mandatory retirement plan immediately upon meeting one of the eligibility criteria:
- following one year of benefits-eligible service at a Kansas Regents institution;
- upon employment with membership in KPERS or KP&F; or
- upon documentation of participation in a mandatory retirement plan at an institution of higher education within the U.S. for 365 consecutive days within the past five years, provided that the Documentation of Service (PER-33 form) is submitted to Human Capital Services within 90 days of hire.
Newly hired faculty or other unclassified employees who meet any of the criteria for waiving the one-year waiting period should provide the PER-33 to their previous employer for completion. Kansas State University Benefits Administration must receive necessary documentation within ninety (90) calendar days of the newly hired employee’s appointment date for the waiver to be considered.