Information for Your Auditor (August 2009)The updated information on KPERS and KP&F that the auditors need for note disclosure in the audit follows:
Local non-school-type Municipalities that participate in KPERS and/or KP&F - KPERS employer rate established by statutes for January 1, 2009 to December 31, 2009 is 6.54%*. - For local non-school-type municipalities that hire a KPERS retiree who retired from a different KPERS employer, the employer rate is 12.13% for the period of January 1, 2009 to December 31, 2009 and the waiting period has been increased to 60 days. -The KP&F rate for fiscal years commencing in calendar year 2008 is 13.88% . The KP&F rate for fiscal years commencing in calendar year 2009 is 13.51% - KP&F uniform participating employer rate established by statute for fiscal years commencing in calendar year 2007 is 13.32%. The rate for fiscal years commencing in calendar year 2008 is 13.88% - Note: Employers might pay more than the uniform rate established by statute as a result of catch-up payments for past service costs. These rates will be certified to the employer and can be found on the KPERS web site at http://kpers.org/contributionrates.htm.
School-type municipalities in KPERS - The State of Kansas contributes 7. 97% * of covered payroll for the period July 1, 2008 to June 30, 2009, and 8.57% * of covered payroll for the period of July 1, 2009 to June 30, 2010. (See the note below concerning the moratorium on Group Death and Disability Insurance). - For school-type municipalities that hire a KPERS retiree who retired from a different KPERS employer, the contribution rate is 15.95% for the period of July 1, 2008 to June 30, 2009. - For school-type municipalities that hire a KPERS retiree who retired from a different KPERS employer, the contribution rate is 16.07% for the period of July 1, 2009 to June 30, 2010 for a non-licensed retiree and 20.07% for a licensed retiree (as provided by Sen. Sub for HB 2072). - The State of Kansas contribution to KPERS for all school municipalities for the year ending June 30, 2009 was $ 242,277,363.
* Included in this rate is the contribution for Group Death and Disability Insurance of 1.0% (From March 1, 2009 through November 30, 2009 there is a moratorium on the collection of the premium of 1.00% of the Group Death and Disability Insurance rate. For more information please see the KPERS website at www.kpers.org) Call KPERS at 1-888-275-5737 with questions.
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