New Rules for Working After Retirement
Legislation will change "working after retirement" rules for KPERS members and employers (not KP&F or Judges) beginning July 1, 2016.
- A high-level summary: Flowchart, New Working After Retirement Rules revised 6/26/15 (PDF, 120KB)
- Working After Retirement for State and Local Members (Updated 1/28/16, PDF 144KB)
- Working After Retirement for School Members (Updated 1/28/16, PDF 152KB)
- Current bills in the Kansas Legislature will not affect retiree benefit payments. Retirees will continue to receive their regular monthly benefits on time and in full. These bills have to do with payments for regular employer contributions that the State pays to KPERS. If legislation passes, the State may delay employer contributions until the next fiscal year to help with current budget constraints.
5 Tips to Spend Less & Save More
If money is tight, or you want to put more of it into retirement savings, here are five things you can do to get headed in the right direction.
1. Follow a Budget
Using a budget may seem like a no-brainer, but a Gallup poll revealed only one-third of Americans use a monthly budget to track what they’re spending. If you’re one of the 66 percent without a budget, here’s an easy way to get started.
2. Make a List
Impulse spending, especially at the grocery store, has been a problem since they started putting candy near the check-out. Making and sticking to a shopping list is a reliable way to fight the urge. Today there are even shopping apps to coordinate shopping lists with meal planning, saving you money, 21st-century style.
3. Use Coupons
The popularity of coupon clipping was revived during the Great Recession. The movement gave birth to websites, apps and at least one extreme reality TV show. Coupons are still a timeless way to cut spending and save money.
4. Pack Your Lunch
“I only spend $8 for lunch.” Do you like word problems? Let’s add it up. We average about 225 work days a year, so your $8 lunch costs about $1,800 a year. Bringing your lunch from home costs about $3 a day, saving you up to $1,125 a year. That’s a pretty nice bonus you just gave yourself. Over a 30-year career, it’s $33,000. Who said you didn’t need math in real life?
5. Buy Gently Used
You can save a lot of money buying “gently used.” If fact, U.S. News & World Report suggests there are 16 things you should never buy new, such as furniture, hand tools, books, sports equipment and even craft supplies. Many used goods still have plenty of life left, and can often be bought at a fraction of the original price.
This site contains certain limited statistical and financial data relating to activities KPERS of the State of Kansas and has not been prepared or maintained as a source of investor information and should not be relied upon for investment purposes. Investor information regarding State bonds is available at www.emma.msrb.org.