Working After Retirement · KPERS Webinar Series Working After Retirement Kansas Board of Regents...

Working After

Retirement

KPERS Webinar

Kansas Board of Regents

KPERS Webinar Series

Working After Retirement Kansas Board of RegentsTOPICS

2

Review 2015 Look at 2016 Legislation Preview EWP Screens Schedule


Working After Retirement Kansas Board of Regents

3

Enroll all retirees (KPERS & KBOR)

Employer contributions on all retiree compensation – day 1, dollar 1 (KPERS & KBOR)

Earnings limit $25,000 (KPERS & KBOR)

New “hardship” exemption

Grandfathered retirees

2015 LEGISLATION OVERVIEW



4

No prearrangemento Certificationso Penalties

“Hardship” exemptiono Extension limits/approvalo Employer rateo 4-year individual limit

Sunset date 2020

2016 LEGISLATION OVERVIEW



5

KPERS Retirees Returning to Work in KBOR Plan Position

Enroll all KPERS retirees Earnings limit $25,000 No prearrangement

o Certificationso Penalties

60-day waiting period Contribution rate

KBOR RETIREMENT PLAN



6

NO PREARRANGEMENTS (EMPLOYEE)

Before retirement

During 60-day waiting period

Employee certifies “no prearrangement” on retirement application K-15

Penalties



7

NO PREARRANGEMENTS (EMPLOYER)

Before retirement

During 60-day waiting period: No work and no prearrangement to work

Employer (appointing authority) certifies when hiring retiree



8

NO PREARRANGEMENTS

Definition “…facts and circumstances of the situation indicate that the employer and employee reasonably anticipated that further services would be performed after the employee’s retirement.”

SB 168 Section 2, subsection (9)

Penaltieso Employee: suspend benefit; repayo Employer: all associated costs

Qualified status with IRS



9

HARDSHIP EXEMPTION

Exemption for one year

(3) one-year extensions

4-year individual limit

Employer contribution rate on exempt retiree wages – 30%



10

EMPLOYER CONTRIBUTION RATES

STAT

E

Category Earnings Limit

Contribution Rates

FY17 FY18Same or Different employerAccepted position 5/1/15 or after

$25,00010.81%

(reg statutory)12.01%

(reg statutory)

Same employerAccepted position after 7/1/06 but before 5/1/15 (grandfathered)

$25,000 0% 0%

Different employerAccepted position after 7/1/06 but before 5/1/15 (grandfathered)

None16.77%

(ADC+6)15.62%

(ADC+6)

Same employerReturned before 7/1/06 & working on 5/15/15 (great-grandfathered)

$25,000 0% 0%

Different employerReturned before 7/1/06 & working on 5/15/15 (great-grandfathered)

None 0% 0%

Hardship (beings 7/1/16) None 30% 30%



11

HARDSHIP EXEMPTION

Assurance protocol (KPERS)

o Advertised position 30 days

o And one of following: No applications None met screening criteria None w/credentials



12

NEW RULES SUNSET 2020

June 30, 2020

Most new rules

Stays after sunset:

o prearrangement certification

o prearrangement penalties



13

GRANDFATHERED RETIREES

Accepted position before 5/1/2015

Stay with same job/employer and have no break in service



14

ON THE WEB PORTAL (HARDSHIP)



15




16




17




18

Enroll only new hires and non-covered employees

Automatic categorizing

Current employees moved automatically

EXISTING EMPLOYEES



19

ON THE WEB PORTAL (ENROLL)



20




21




22




23




24




25

SCHEDULE

Now SSN Lookups

Now Screen Capture Preview (PDFs)

End of May Two-Week EWP Preview

June 6 In Production (Start Enrolling)

July 1 New Rules Start



26

www.kpers.org/employers Employer Manual EWP How-To (Lite) 1-866-980-0955 [email protected] Webinar recording

EMPLOYER RESOURCES

Date post:	21-Jun-2020
Category:	Documents
Upload:	others
View:	0 times
Download:	0 times

Working After Retirement · KPERS Webinar Series Working After Retirement Kansas Board of Regents...

Documents