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Minutes for HB2064 - Committee on Insurance and Pensions
Short Title
Making DROP elections revocable and allowing DROP members who first elected a DROP period of less than five years to extend such DROP period.
Minutes Content for Wed, Feb 3, 2021
Chairperson Steven Johnson asked the Committee if they would be willing to reconsider HB2064, which was passed out on February 1, 2021.
Representative Croft moved, Representative Miller seconded, to reopen the Hearing on HB2064. Motion carried.
David Wiese, Assistant Revisor with the Office of Statue Revisors, introduced the balloon amendment for HB2064. It was explained by Representative Croft that the amendment corrects a technical issue that complies with IRS processes. Alan Conroy, Executive Director of KPERS explained that the modification keeps us square with the IRS, and specifies that the DROP program is a shared agreement with the member and the employer. In total, seven words were added to the bill.(Attachment 1)
Representative Croft deemed the hearing be closed.
Representative Croft moved, Representative Neighbor seconded, to recommend HB2064, as amended, favorable for passage. Motion carried.
