SB 435 Kansas Senate · 2025-2026 Regular Session

Providing procedures, standards and requirements for the deposit and investment of public moneys, creating the public moneys fee fund and authorizing the state treasurer to assess a fee to operate the public moneys pooled method, making and concerning appropriations for fiscal year 2027 for the office of the state treasurer, authorizing a certain transfer from the state general fund to the public moneys fee fund, modifying investment standards for the board of trustees of the Kansas public employees retirement system of moneys certified by the state treasurer as equivalent to the aggregate net amount received for unclaimed property and authorizing investments in certain foreign governments and the KPERS board of trustees to elect the vice chairperson of the board, requiring newly affiliated KP&F employers to contribute at the actuarial required rate for past and future service and repealing certain working after retirement statutes for state and local elected officials.

SB 435 allows the Kansas Public Employees Retirement System (KPERS) board to elect its own vice chairperson, replacing the prior process where the position was appointed by the governor or legislative leaders. It requires new employers joining the Kansas Police and Firemen's Retirement System (KP&F) to pay the full actuarial rate for both past and future pension service, ensuring the system remains financially stable. The bill also repeals existing rules that permitted state and local elected officials to work after retirement without reducing their pension benefits. These changes directly affect KPERS board members, new KP&F employers, and state/local elected officials.
Bill status signed all 5 stages cleared
Introduction
Feb 2026
Committee Review
Mar 2026
Senate Passage
Feb 2026
House Passage
Mar 2026
Signed into Law
Apr 2026
Introduced Feb 2, 2026 Signed Apr 9, 2026
Maddy AI version diff · 2 comparisons

What changed between versions

As Amended by House Committee on Financial Institutions and Pensions Enrolled · 6 edits · Apr 9, 2026
MODERATE
The bill was significantly rewritten to shift its primary focus from retirement system governance to state-managed investments and public money deposits. It introduces new funding for the State Treasurer's office, establishes a fee fund for managing public money pools, and updates requirements for banks and municipalities regarding where they must deposit public funds. Additionally, it modifies investment standards for the public employees' retirement system and clarifies rules for the board of trustees.
Scope change
The bill's scope expanded from primarily governing the Kansas public employees retirement system to include broad regulations on state-managed investments, public money deposits, and the operations of the State Treasurer's office.
FISCAL

Created a new 'public moneys fee fund' and authorized a $250,000 transfer from the state general fund to support the State Treasurer's operations starting in 2026.

REQUIREMENT

Updated the requirements for banks and municipalities to enter written agreements with the State Treasurer and increased the security value needed to hold public deposits.

Authorized the State Treasurer to assess fees for operating the public moneys pooled method, with no statutory limit on the amount.

ELIGIBILITY

Revised the composition and term limits of the public employees' retirement system board, including changes to how members are appointed and confirmed.

DEFINITION

Altered the statutory language defining the retirement system and the roles of board members, specifically regarding inactive members and election eligibility.

TIMELINE

Adjusted effective dates and term expirations for board members, with specific provisions for members serving on the bill's effective date.

Floor votes

How they voted

This bill passed the Senate by voice vote (no roll call recorded).
Full legislative history

Actions timeline

Total actions
20
Key actions
14
Committee
8
Apr 9, 2026
Signed into law
Approved by Governor on Thursday, April 9, 2026
upper
Mar 27, 2026
Upper · Passed
Conference Committee Report was adopted; Yea 40, Nay 0
upper
Mar 25, 2026
Lower · Passed
Conference Committee Report was adopted; Yea 125, Nay 0
lower
Mar 25, 2026
Lower · Passed
Conference committee report now available
lower
Mar 16, 2026
Lower · Passed
Motion to accede adopted; Rep. Nick Hoheisel, Rep. Angela Stiens and Rep. Rui Xu appointed as conferees
lower
Mar 12, 2026
Upper · Passed
Nonconcurred with amendments; Conference Committee requested; appointed Sen. Brenda Dietrich, Sen. Michael Fagg and Sen. Silas Miller
upper
Mar 12, 2026
Lower · Passed
Emergency Final Action - Passed as amended; Yea 118, Nay 0, Absent 6
lower
Mar 12, 2026
Lower · Passed
Motion to advance to Emergency Final Action adopted
lower
Mar 12, 2026
Lower · Passed
Committee of the Whole - Be passed as amended
lower
Mar 12, 2026
Lower · Passed
Committee of the Whole - Committee Report be adopted
lower
Mar 10, 2026
Lower · Passed
Committee Report recommending bill be passed as amended by House Committee on Financial Institutions and Pensions
lower
Feb 12, 2026
Committee
Referred to House Committee on Financial Institutions and Pensions
lower
Feb 12, 2026
Introduced
Received and Introduced
lower
Feb 11, 2026
Upper · Passed
Emergency Final Action - Passed; Yea 40, Nay 0
upper
Feb 11, 2026
Upper · Passed
Committee of the Whole - Be passed
upper
Feb 9, 2026
Upper · Passed
Committee Report recommending bill be passed by Senate Committee on Financial Institutions and Insurance
upper
Feb 3, 2026
Committee
Referred to Senate Committee on Financial Institutions and Insurance
upper
Feb 2, 2026
Introduced
Introduced
upper
0 primary · 0 co-sponsors

Sponsors

No sponsor information available.