Kansas 2025-2026 Regular Session

Kansas Senate Bill SB282

Introduced
2/28/25  

Caption

Enacting the Kansas retirement investment and savings plan (KRISP) act and establishing terms, conditions, requirements, membership elections, accounts, benefits, contributions and distributions related to such plan.

Impact

One of the significant impacts of the bill is that it introduces a defined contribution plan, differing from the traditional defined benefit plans. Active employees hired on or after July 1, 2027, will automatically be enrolled in KRISP unless they opt for the existing defined benefit system. This shift has the potential to alter the retirement landscape for new public employees, affecting how retirement benefits are accumulated and disbursed. Current members of defined benefit plans are allowed to elect to become KRISP members, giving them access to different contribution arrangements.

Summary

Senate Bill 282, known as the Kansas Retirement Investment and Savings Plan Act (KRISP), establishes a new retirement plan for public employees in Kansas, effective July 1, 2027. The bill outlines the conditions for membership, benefits, contributions, and distribution options for new employees who join participating employers after this date. The legislation aims to provide a modernized retirement system that complements existing provisions while allowing for elective contributions to a deferred compensation plan, offering members the chance to increase their retirement income through various investment options.

Contention

The introduction of KRISP has raised concerns among existing members of the Kansas public employees retirement system. Critics argue that shifting to a defined contribution framework could undermine the financial stability provided by the traditional defined benefit plans, which guarantee a specific retirement payout. Additionally, the bill allows adjustments of retirement system parameters by the legislature, which some view as a risk that could lead to reduced benefits in the future. The ongoing discussions regarding the bill reflect a divide in perspectives over the necessity and implications of reforming Kansas’s public retirement systems.

Companion Bills

No companion bills found.

Previously Filed As

KS HB2002

Expanding medical assistance eligibility and enacting the cutting healthcare costs for all Kansans act.

KS SB1

Modifying income tax rates for individuals, exempting all social security benefits from Kansas income tax, increasing the Kansas standard deduction and the Kansas personal exemption, increasing the income tax credit amount for household and dependent care expenses, decreasing the privilege tax normal tax, excluding internal revenue code section 1031 exchange transactions as indicators of fair market value for property tax valuation purposes, increasing the extent of property tax exemption for residential property from the statewide school levy, providing for certain transfers to the state school district finance fund and abolishing the local ad valorem tax reduction fund and the county and city revenue sharing fund.

KS SB2

Eliminating the income limit to qualify for the subtraction modification exempting social security benefits, increasing the income tax credit amount for household and dependent care expenses, establishing the veterans' valor property tax relief act providing for an income tax credit or refund for eligible individuals, citing the increased property tax homestead refund claim section as the homeowners' property tax freeze program, decreasing the normal privilege tax rate, increasing the extent of property tax exemption for residential property from the statewide school levy, decreasing the rate of ad valorem tax imposed by a school district; providing for certain transfers to the state school district finance fund, reducing the state rate of tax on sales of food and food ingredients and modifying the percent credited to the state highway fund from revenue collected.

KS HB2001

Authorizing the secretary of commerce to enter into agreements with major professional sports franchises to establish STAR bond projects for a major professional sports complex, providing for additional revenue sources, expanding the powers and discretion of the secretary and making other changes to the STAR bonds financing act to facilitate such projects, limiting the secretary’s authority to approve such projects to one year unless extended by the legislative coordinating council, authorizing the Kansas development finance authority to issue STAR bonds for such projects, transferring funds under certain circumstances from the state gaming revenues fund to the attracting professional sports to Kansas fund for the fiscal year ending June 30, 2025, and, if approved by the legislative coordinating council, for the fiscal year ending June 30, 2026.

KS SB7

Authorizing federally licensed firearm dealers, in addition to county sheriffs, to receive applications for concealed carry licenses and forward such applications to the attorney general, prohibiting sheriffs from assessing any fee related to application services and allowing dealers to assess a fee related to application services not to exceed $20.

KS SB5

Authorizing counties to impose an earnings tax.

KS HB2004

Authorizing counties to propose an earnings tax for ballot question.

KS SCR1602

Approving the creation of a port authority in Wyandotte County Kansas.

KS HB2003

Establishing the veterans' valor property tax relief act providing for an income tax credit or refund for eligible individuals, modifying the definition of household income and increasing the appraised value threshold for eligibility of seniors and disabled veterans related to increased property tax claims and citing the section as the homeowners' property tax freeze program, providing property tax exemptions for certain personal property including watercraft, marine equipment, off-road vehicles, motorized bicycles and certain trailers, excluding internal revenue code section 1031 exchange transactions as indicators of fair market value, providing for certain exclusions from the prohibition of paying taxes under protest after a valuation notice appeal and providing four prior years' values on the annual valuation notice.

KS SB8

Exempting the sale of firearms, firearms accessories, ammunition, firearm safes and firearm safety devices from the retatilers' sales tax.

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