KP&F Membership Guide - KPERs

Membership Guide Information for Members KP&F Tier I KP&F Tier II KPERS Dependable Benef_its. Trusted Partner. Kansas Police & Firemen’s Retirement System Welcome to the Retirement System Welcome to the Kansas Police and Firemen’s Retirement System. We’re glad you are here! This membership guide will help you get to know the Retirement System. It outlines your current benefits as an active member and shows you what is in store when you are ready to retire. The guide can be a reference tool when you have KP&F questions. In the interest of simplicity, certain generalizations have been made in this guide. Kansas law and the rules adopted by the Board of Trustees will control specific situations. We’re Here for

You We’re here to answer your questions and help in any way we can. Our offices are open Monday through Friday from 8 a.m. to 5 p.m. Our “InfoLine” is a toll-free customer service call center dedicated to helping you get the information you need and processing your retirement-related business. The InfoLine is open 8 a.m. to 4 p.m. The easiest time to reach our office is in the after- noon, Tuesday, Wednesday and Thursday. Your questions, comments and sugges- tions are always welcome, so don’t hesitate to call. If you need one-on-one help or just prefer to visit with someone in person, please call to arrange an appointment first so that we can assist you more effectively when you arrive. Our office is conveniently located in downtown Topeka. Visit our web site for driving directions and parking locations. Web Site: www.kpers.org InfoLine: 1-888-275-5737 In Topeka: 785-296-6166 E-mail: kpers@kpers.org www.kpers.org The Retirement System’s web site is an excellent resource to help you find the KP&F information you need. Within seconds, you can locate forms, publications and loads of other benefit information. You can also keep track of your membership and plan for retirement with access to your personal account online: • Download your annual statements • Create personalized benefit estimates • Review your beneficiaries Login through www.kpers.org in the Active Member section. www.kpers.org | 3 Revised 6/13 Table of Contents What Is KPERS and KP&F? ....................................................................................................................................................................... 6 How We Are Organized ........................................................................................................................................................................... 6 What Are Your Benefits? .......................................................................................................................................................................... 6 Membership ................................................................................................................................................................................................ 7 Your Contributions and Interest .......................................................................................................................................................... 7 Someone at Your Employer to Help You ........................................................................................................................................... 7 Annual Statements ................................................................................................................................................................................... 8 Guaranteeing Your Benefit (Vesting) .................................................................................................................................................. 8 What Is Service Credit? ............................................................................................................................................................................ 8 Increasing Your Retirement Benefit (Purchasing Service Credit) ............................................................................................. 8 Disability Benefits ....................................................................................................................................................................................10 Tier I Disability Benefits .........................................................................................................................................................................10 Tier II Disability Benefits ........................................................................................................................................................................11 Death Benefits ..........................................................................................................................................................................................12 Optional Group Life Insurance ...........................................................................................................................................................13 Naming Your Beneficiary ......................................................................................................................................................................14 Divorce and Your Benefits ....................................................................................................................................................................16 Military Service and Your Benefits .....................................................................................................................................................16 Leaving Employment Before Retiring ..............................................................................................................................................17 You’ll Need More Than Just Your Pension .......................................................................................................................................18 Retiree Cost-of-Living Adjustments (COLAs) .................................................................................................................................18 When Can You Retire? ............................................................................................................................................................................19 Calculating Your Retirement Benefit ................................................................................................................................................20 The Retirement Process.........................................................................................................................................................................21 Retirement Benefit Payment Options ..............................................................................................................................................22 State and Federal Taxes .........................................................................................................................................................................24 Retiree Death Benefit .............................................................................................................................................................................24 Working After You Retire ......................................................................................................................................................................25 Frequently Asked Questions ...............................................................................................................................................................26 KP&F Disability Benefits Quick Reference Chart ..........................................................................................................................27 KP&F Active Death Benefits Quick Reference Chart ...................................................................................................................27 What Is KPERS...

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