Memo

TO:                   Frank Reeb

FROM:              Lori Carnahan

DATE:               June 4, 2004

RE:                   2005 KPERS & KP&F Rates     

We have received the 2005 KPERS & KP&F employer contribution rates.  They are as follows:

2005 2004

KPERS             4.01% (January through June)*                           

                        4.41 %(July through December)* 3.22%

KP&F               12.18%                                                 10.02%

This equates to approximately $536,763 in additional payroll for 2005 based on current 2005 Payroll Projections. This includes $306,242 for KP&F and $82, 667 for KPERS to the general fund and $147,854 for KPERS to other funds.

*Death & Disability rates which are included in the employer contribution rate increase from 0.6% to 1.0% effective July 1, 2005.