Retirement Plans
The State of Kansas, the Kansas Board of Regents and Kansas State University have basic retirement plans for benefits-eligible employees. Participation in the appropriate plan is mandatory when the requirements for membership are met. The plan membership is based upon the employee’s type of appointment. These plans are designed to provide the employee with a future retirement income.
Kansas Board of Regents (KBOR) Mandatory Retirement Plan
Faculty and Professional Staff who are benefits-eligible participate in the Kansas Board of Regents mandatory retirement plan. Retirement plan providers are Voya Financial, (formerly ING Financial Advisers) and TIAA.
Each participant establishes a retirement account with the selected company. The company will then invest the participant’s funds as the participant directs. At retirement, the employee will determine the withdrawal rate and method for his/her retirement funds.
Regular retirement is available at age 60 with no minimum service requirement. Early retirement is available at age 55 with at least 10 years of service.
When Eligible: Faculty and Professional Staff must participate in the mandatory retirement plan after one year of service in an eligible position. This one-year wait may be waived if the employee has participated in a qualified retirement plan at an institution of higher education in the United States to which employer contributions have been made for at least one year (365 days) within the five-year period immediately preceding employment with Kansas State University. A waiver may also be granted for participation in a State of Kansas mandatory retirement plan (other than the Kansas Board of Regents) in which the employee participated at least one year (365 days), including time in a waiting period, within the five-year period immediately preceding employment with Kansas State University. A Documentation of Service form for the waiver must be received by HR within the first 90 days of employment. Participation will begin when all needed forms are received in the Division of Human Resources.
Who Pays: The employee contributes 5.5% of salary in pre-tax funds and the University contributes 8.5% of employee’s salary to the employee’s selected provider.
Related Information
- Investment Agreement - Mandatory Retirement Plan (Kansas Board of Regents) (PER-13)
- Long-term Disability Benefits Available to Participants in Kansas Board of Regents Mandatory Retirement Plan (pdf)
- Documentation of Service for Immediate Participation in Regents Retirement Program (PER-33)
- Voya Financial Advisor Contacts
- KBOR How to Enroll Flyer
Kansas Board of Regents Phased Retirement Program
This retirement plan ONLY applies to Faculty and Professional Staff/Regents Mandatory Retirement Plan Members. Participation means a reduction in appointment and salary but retention of current employer-paid benefits. Participation is voluntary and available from one to five years. At the end of the agreed upon participation period (not to exceed five years) the employee is required to retire.
When Eligible: Age 55 with 10 years of full-time service at KSU or another Board of Regents educational institution.
Who Pays: The university continues to pay the employer provided benefits at the employees FTE rate prior to participation in the Phased Retirement Program even though the employee’s salary is reduced.
Related Information
Kansas Police & Fireman's Retirement System (KP&F)
Only university police officers participate in KP&F. Participants are vested after 15 years of service and may select from various income options at retirement.
Regular retirement is available at these age and service combinations:
- 50 years of age with at least 25 years of service credit
- 55 years of age with at least 20 years of service credit
- 60 years of age with at least 15 years of service credit
Early retirement is available at age 50 with at least 20 years of service credit. Early retirement benefits are permanently reduced.
When Eligible: Participation in this retirement plan is mandatory on the first day of employment in a KP&F-covered position.
Who Pays: The employee contributes 7.15% of salary before taxes. The University also contributes to the retirement system. The University contribution is not credited to any specific employee or group of employees.
Kansas Public Employees Retirement System (KPERS)
University support staff in KPERS-covered positions participate in KPERS. Participation in KPERS retirement is mandatory at date of hire into a KPERS covered position.
| KPERS 1 | KPERS 2 | KPERS 3 | |
|---|---|---|---|
| Membership Date | Contributing members on 7/1/2009 | Employees first employed 7/1/2009 to 12/31/14 | Employees first employed on or after 1/1/2015 |
| Vested employees who return to work | Active members who return to employment 7/1/2009 to 12/31/2014 | ||
| Employees in "year of service" 7/1/2008-6/30/2009 and are still employed | Former members who withdrew and begin new membership 7/1/2009 to 12/31/14 | ||
| Vesting | 5 years of covered service | 5 years of covered service | 5 years of covered service |
| Contributions by Employees | 6% of gross pay | 6% of gross pay | 6% of gross pay |
| Full Retirement Eligibility | Age 65 plus 1 year of covered service Age 62 plus 10 years of covered service 85 points (age plus covered service) | Age 65 plus 5 years of service or Age 60 plus 30 years of service | Age 65 plus 5 years of service or Age 60 plus 30 years of service |
| Early Retirement Eligibility | Age 55 plus 10 years of contributions with reduction in benefits | Age 55 plus 10 years of service with reduction in benefits | Age 55 plus 10 years of service with reduction in benefits |
Working After Retirement
Kansas Public Employees Retirement System (KPERS)
As a KPERS retiree, there are certain rules and limitations if you return to work for a KPERS covered employer after you retire. These rules and limitations do not apply if you work for an employer that is not a KPERS covered employer.
The State of Kansas is considered one employer. State agencies, boards, commissions and Board of Regents institutions are all part of the State of Kansas. Going from one to another is not considered changing employers.
Any rehire of a retiree is subject to normal university recruitment approval process. In addition, Human Resources Benefits must approve the rehire of all retirees. You can find more information on the KPERS website.
No Prearrangements
KPERS retirees cannot make prearrangements to return to work for any KPERS covered employer. That means no communication in any way about an intent to return to work. This includes both before retirement and during the waiting period discussed below.
Waiting Period
As a retiree you cannot return to work for any KPERS covered employer until a waiting period is satisfied. The time is calculated based on your KPERS retirement date (which will be the first day of a month), not your last day on the University’s payroll.
For individuals that retired before January 1, 2018, the waiting period is 60 days.
For individuals that retire on or after January 1, 2018, the waiting period is 60 days if you were age 62 or older at the time of retirement. If you were under age 62 at the time of retirement, the waiting period is 180 days.
Kansas Board of Regents (KBOR) Mandatory Retirement Plan
IRS rulings and case law confirm that access to retirement funds requires a bona fide separation from service. Consequently, rehiring a retiree must be in the best interest of the University and within the bounds of this policy. The retiree may not be rehired into the same position with job duties and job title identical to those which he/she held before retirement. Any rehire is subject to the normal university recruitment approval process. In addition, Human Resources must approve the initial rehire of all retirees prior to allowing the retiree to work in order to document compliance with the following policies.
A retiree who participated in the KBOR mandatory retirement plan may be rehired no earlier than 60 calendar days after the retirement date. Access to retirement funds will be dependent upon prevailing KBOR and retirement provider policy. See the Kansas Board of Regents Bona fide Separation from Service (pdf) directive.
