Session of 1998
By Joint Committee on Pensions, Investments and Benefits
            9             AN ACT concerning the Kansas public employees retirement system;
10             relating to assignment of offices; amending K.S.A. 1997 Supp. 74-4907
11             and repealing the existing section.
13       Be it enacted by the Legislature of the State of Kansas:
14           Section 1. K.S.A. 1997 Supp. 74-4907 is hereby amended to read as
15       follows: 74-4907. (1) The principal office of the system shall be in quarters
16       at Topeka, Kansas.   Offices shall be assigned to the system by the secretary
17       of administration.
18           (2) The board shall keep a complete record of all proceedings which
19       shall be open at all reasonable hours to inspection. Any agreement in
20       settlement of litigation involving the system and the investment of moneys
21       of the fund shall be open for inspection by any person and suitable facil-
22       ities shall be made available by the system for this purpose as provided
23       by the provisions of K.S.A. 45-215 et seq. and amendments thereto. A
24       report covering the operation of the system for the past fiscal year, in-
25       cluding income and disbursements, and of the financial condition of the
26       system at the end of such fiscal year, showing the valuation of assets and
27       investments and liabilities of the system, shall be delivered after the end
28       of each fiscal year and prior to January 1 of the next fiscal year to the
29       governor and to the chairperson of the legislative coordinating council,
30       to the secretary of the senate and to the chief clerk of the house of rep-
31       resentatives and shall be made readily available to the members and par-
32       ticipating employers of the system. Such report shall include the financial
33       statements of the system and supporting schedules, presented in accord-
34       ance with generally accepted accounting principles. Such supporting
35       schedules presented in the annual report shall include a listing which
36       reports the cost and the fiscal year end lower amount of cost or market
37       value for each individual alternative investment of the system which was
38       initiated on or after July 1, 1991, and reports, in aggregate, the cost and
39       the fiscal year end lower amount of cost or market value for those alter-
40       native investments of the system initiated prior to July 1, 1991. The re-
41       tirement system shall maintain a listing which reports the cost and the
42       fiscal year end lower amount of cost or market value for each individual
43       alternative investment of the system which was initiated prior to July 1,

HB 2889


  1       1991, and such listing shall be available for review in camera by the joint
  2       committee on pensions, investments and benefits and as may be required
  3       under the provisions of the legislative post audit act.
  4           Sec. 2. K.S.A. 1997 Supp. 74-4907 is hereby repealed.
  5           Sec. 3. This act shall take effect and be in force from and after its
  6       publication in the statute book.