Information for Your Auditor (July 2007)
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, 2007 to December 31, 2007 is 5.31 %*.
- KPERS employer rate established by statutes for January 1, 2006 to June 30, 2006 is 4.61%** and for July 1, 2006 to December 31, 2006 is 4.81%*.
- KP&F uniform participating employer rate established by statute for fiscal years commencing in calendar year 2006 is 12.39%. The rate for fiscal years commencing in calendar year 2007 is 13.32%
- 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 6.77% * of covered payroll for the period July 1, 2006 to June 30, 2007, and 7.37% * of covered payroll for the period of July 1, 2007 to June 30, 2008.
- The State of Kansas contribution to KPERS for all school municipalities for the year ending June 30, 2007 was $192,425,626.
* Included in this rate is the contribution for Group Death and Disability Insurance of
1.0%.
** Included in this rate is the contribution for Group Death and Disability Insurance of
0.8%
In addition to the above certified contribution rates, the employer may be liable for an excess liability contribution rate. The information will be certified to each employer individually by KPERS. Call KPERS at 1-888-275-5737 with questions.
