72-5520. Refund upon quitting service, when; return to service. - Kansas Statutes

72-5520

Chapter 72.--SCHOOLS Article 55.--STATE SCHOOL RETIREMENT SYSTEM

      72-5520.   Refund upon quitting service, when; returnto service.In case any school employee quits school service at any time,notwithstanding the provisions of K.S.A. 72-5519and amendments thereto,the amount credited to such school employee'ssavings account, at the option of the school employee, shall berefundedto such school employee and such school employee'sclaims upon the retirement fund, service annuity fund andemployees savings fund shall be terminated. In case any suchschool employee who has two or more years of service in Kansaslater returns to school service, subject to theprovisions of K.S.A. 74-49,123 and amendments thereto, such schoolemployee mayreturn the amountrefunded to such school employeewithout either interest or penalty, and regain such schoolemployee's original status withthe retirement system if such employee returns the amount sorefunded within 12 months after the date such schoolemployee reentersschool service and if such school employeecontinues in school service for at least one school year, except that suchperson withdrawing from schoolserviceshall not be permitted to make application for funds credited to suchperson'ssavings account until six months shall have expired after suchperson's withdrawalfrom school service.

      History:   L. 1941, ch. 341, § 20;L. 1953, ch. 339, § 7;L. 1963, ch. 381, § 2;L. 1998, ch. 64, § 25; July 1.