Retirement Plans
KPERS | KP&F | KBOR | Voluntary Retirement Plans | Accessing KBOR 403(b) Funds | Benefits following retirement
Kansas Board Of Regents (KBOR) Mandatory Retirement Plan
The KBOR Mandatory Retirement Plan is a 403(b) defined contribution plan for eligible Faculty and Unclassified Professional Staff. All Faculty and Unclassified Professional Staff working half-time or more in a benefits-eligible position at Fort Hays State University are required to participate in the KBOR Mandatory Retirement Plan after completing one year of service or be immediately eligible to participate as explained below:
Immediate Participation eligibility:
- You were covered, as a result of employment with an institution of higher education located in the United States, by a retirement plan or program to which employer contributions were made for at least one year (365 days) within the five year period immediately preceding employment with FHSU, or
- You served at least one year (365 days), including time in a waiting period, in a position covered by any other State of Kansas retirement plan within the five year period immediately preceding employment with FHSU.
A KBOR Immediate Participation form for the waiver must be received by Human Resource Office by the effective date of employment. Participation will begin when all needed forms are received in the Human Resource Office.
Enrollment: The KBOR Mandatory Retirement Plan requires you submit the Investment Agreement for the KBOR Mandatory Retirement Plan and complete the application process with a KBOR-approved company. Plan provider elections and the Investment Agreement submission are made within Workday. Contact a plan provider or enroll online to create an account with the selected company.
Contributions: The employee contributes 5.5% of salary in pre-tax funds and the University contributes 8.5% of employee's salary to the employee's selected provider.
Vesting: All the money in your retirement account is vested immediately; that is, the entire accumulation belongs to you the first day the money is credited to your account.
Retirement: Regular retirement is available at age 60 with no minimum service requirement. Early retirement is available at age 55 with at least 10 years of service.
Plan Providers:
- Paul Eiting: 402-548-3631
- Jeremy Kohn: 785-856-4808
- Barry Benkelman: 785-838-3300
- Shelli Buffington: 913-661-3762 or 913-488-5141