October 13. .... 5-4 ... The Kansas Public Employees' Retirement System is pleased to announce a new agreement with the State of Kansas. The Board of Trustees approved a proposal to join the State. Keepers seeks to expand its operations while continuing its successful policy offering with the state, including retirement, health and life insurance. This is expected to result in an estimated savings to the Keepers of 1.4 million. The Board of Trustees also approved a 35.3 million payment to Keepers and 8.8 million to the State of Kansas. The Board approved a cash contribution to the State equal to 11.3 percent of Keepers' current assets and reserves. The cash contributed to the state will be used to pay 13.8 million owed to the State by both Keepers and the Kansas Department of Transportation. Also, Keepers made a commitment to the Kansas Department of Health. The board approved a new five-year contract with the department that continues a successful model. This contract includes an increase in annual contributions to the Keepers plan to 4 percent, increasing contributions every year until January 1, 2018. The current annual contribution to Keepers is 3.75% and is expected to increase each year to 4.38% by January 1, 2021. The board also approved the hiring of two consultants to be paid 11,826 per year. The consultant's role will be to improve Keepers' internal control over the state retirement system. The consultant has an agreement with an insurance company to provide Keepers with cost estimates in the event of the need to buy an annuity. In addition, the consultant will offer advice concerning Keepers' business model. Kalkhoff & Co., PC received a 6.5 million contract from the Keepers Board of Trustees. The contract is used to pay for marketing, research and evaluation services. The consultants are expected to complete their work by the end of July 2015. During a telephone interview with WIBW-Channel 2 in October 2012, Keepers Chairman, Chairman, and CEO, John R. Nelsen discussed the Board's decision to join the state: “The Board was pleased with the way the state has conducted business. We have worked with the Department of Transportation. We think we could do things a little better. Our view has always been that the state has been very responsible.
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Jul 30, 2012 ... KANSAS GOVERN 1ENTAL ETHICS Commission. RECEIPTS AND EXPENDITURES ... Date. Signature of Treasurer. Gee, Form! Rev1 2001 ...
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