Providing a postretirement cost-of-living adjustment for certain KPERS 1 and KPERS 2 retirants and making appropriations for fiscal year 2026 for KPERS to pay the actuarial cost of such cost-of-living adjustment.

SB 238 increases retirement benefits for certain Kansas public employees who retired before specific dates (ranging from 1% for those retiring on or before July 1, 2015, up to 5% for those retiring on or before July 1, 1999). It directly affects current KPERS retirees who were retired by those dates, as well as their beneficiaries and insured disability benefit recipients. The bill provides a cost-of-living adjustment capped at $100 per month, funded by a $136.4 million appropriation from the state general fund for fiscal year 2026. This adjustment applies to benefits paid after June 30, 2025, and becomes part of Kansas' retirement system law.