Brownback Administration Announces Voluntary Retirement Program
Samir Arif | Aug 02, 2011
Topeka – The State of Kansas announced a voluntary retirement program that provides incentives for state retirement-eligible employees who offer to retire within the next 45 days.
“Reducing spending through this voluntary retirement incentive program is one method of helping the state live within its means,” Governor Brownback said.
Approximately 4,000 employees who are currently eligible for full or early retirement are eligible to retire under the criteria of the program. There are two options for eligible employees to consider:
1) Post-Retirement Group Health Insurance Coverage: The state will pay the employer’s share of the state employee rate for up to 60 months for member-only coverage or up to 42 months for member-plus-dependent coverage - until the employee reaches age 65, whichever comes first.
2) One-time Lump Sum Payment of $6,500.
Eligible employees have until September 2nd to make their offer to retire. Those whose offers are accepted by the state will need to make their last day with the state no later than September 19th.
“This is a voluntary program. The administration will not make any recommendation that an employee choose to offer to retire,” Secretary of Administration Dennis Taylor said. “Employees should contact their personal legal and financial advisors about whether to retire and the Kansas Public Employees Retirement System about eligibility concerns.”
The state does not expect to replace those who retire, although critical positions may need to be filled to ensure the viability of essential state functions. Those decisions will be made following the deadline for employees to present their offers to retire.
The program is not available to state employees covered under the Correctional KPERS plan or the Kansas Police & Fire plan. Nor is it available to Kansas Department of Labor employees whose salaries are not funded by SGF and/or fee funds and employees who have previously retired from the state.
More information can be found online at http://da.ks.gov/ (The website will be live at 4 p.m. today.)