Kansas Retirement Cash Flow
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FAQ
KPERS is a qualified 401(a) defined benefit pension plan under the Internal Revenue Code. This type of plan is not permitted to allow "in-service" distributions.
KPERS contribution rates do not include the Death and Disability Insurance rate. The employer must remit this rate in addition to the KPERS and Judges employer contribution rate.
Those looking to retire comfortably in Kansas would need to have about $732,681 saved.
When you are eligible for retirement, KPERS will pay you a lifetime monthly benefit based on your account balance and your retirement credits. Membership is mandatory.
KPERS is 72.5% funded up more than 16% since 2012. While we're making progress toward full funding, it's important to remember that 80% and rising is good for pensions like ours, with the goal of 100%.
KPERS is a state-wide defined benefit retirement plan that provides a monthly benefit upon your retirement. Eligible JCCC employees are required to participate in KPERS. All JCCC employees hired in a covered position must contribute 6 percent of their monthly gross earnings to KPERS.
If your employer offers it, KPERS 457 can be a good option. Many school employers offer a 403(b) savings plan. And if neither of those are available, you might want to look into an individual retirement account (IRA). It's not so much a matter of where you save, just as long as you are saving.
KPERS and Social Security won't be enough for you to afford retirement. You need to do your part to fill the gap. One of the easiest ways to save is through a plan at work. The State of Kansas and many local employers offer KPERS 457, a 457(b) deferred compensation plan.
The absolute minimum you need to retire is net zero cash flow after removing the cash flow from your job. That means when you quit your job, the cash flow from your investments needs to be able to consistently cover all your life's expenses.
Your Benefit Is Secure. FACT: KPERS is not like Social Security. KPERS benefits are prefunded.
