The Kansas Board of Regents (KBOR) Retirement Plan is a component of the benefits and compensation package for faculty and staff who serve at the six State Universities and the KBOR office. The plan has four components:
1. Eligible faculty and unclassified professional staff participate in the KBOR Mandatory Retirement Plan.
2. Eligible faculty, unclassified, and classified staff can elect to participate in the KBOR Voluntary Retirement Plan.
3. The Retirement Plan Committee has oversight responsibilities for the KBOR Mandatory and Voluntary Retirement Plans.
4. Participants in the KBOR Mandatory Retirement Plan and faculty who are on approved long-term disability are eligible for KBOR Long-term Disability Benefits.
5. For information about the KBOR Mandatory and Voluntary 403(b) Retirement Plans, please see the Retirement Plan Guide.
6. Eligible faculty and unclassified professional staff can apply at their university to participate in the KBOR Phased Retirement Plan.
For information about distributions from the KBOR Retirement Plans, please see Accessing KBOR Retirement Plan Funds.
CARES ACT Coronavirus-Related Distribution Allowed for the KBOR Mandatory and Voluntary Retirement Plans
Click the links below for Information on Financial Alternatives and Strategies to Consider:
Coronavirus-Related Distributions (CRDs) are only available on or after January 1, 2020, to before December 30, 2020. Thus, a distribution made on December 31, 2020, will not be treated as a CRD. Contact your KBOR 403(b) retirement company if you would like to take a CRD, and you will need to secure an authorizing certificate from PlanWithEase. (See additional information in the Letter above.)
On June 19, 2020, the IRS released new guidance expanding the definition of who is a qualified individual to take coronavirus-related distributions. More information is available at the following links or you can contact your KBOR 403(b) retirement company and PlanWithEase.