2005 Legislative Agenda Announced by Kansas State Treasurer Lynn
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Kansas State Treasurer Website - Press Releases NOV DEC MAR Close 4 captures 14 Help 14 Dec 05 - 11 May 08 2004 2005 2008 Text Only Site Press Releases Path: Home>Press Wednesday, Dec 14, 2005 Topeka, KS Time: 3:30pm kansasstatetreasurer.com FOR IMMEDIATE RELEASE For more information, call: Jan. 4, 2005 Jenalea H Linn, Spokesperson 785/296-3342(Office) 785/270-3528(Pager) [email protected] 2005 Legislative Agenda Announced by Kansas State Treasurer Lynn Jenkins, CPA Proposal from the Treasurer's Office will Pay Kansans Interest on some Unclaimed Property and Continue to Save the State General Fund more than $1.5 million (TOPEKA) - Today, Kansas State Treasurer Lynn Jenkins, CPA, announced her legislative agenda for the 2005 session. The Treasurer's office will focus on issues in its Unclaimed Property and Cash Management divisions. "Each year my office attempts to balance the demands of the state budget with the needs of Kansans," Treasurer Jenkins said. "Our 2005 legislative package proposes to return unclaimed property to Kansans including interest, if applicable, and continue to save more than $1.5 million in state general fund dollars." In Interest of Kansans: In an effort to return all Unclaimed Property to Kansans, a bill will be introduced to the legislature that will allow the Kansas State Treasurer's office to pay owners or their heirs earnings on interest-bearing accounts. Currently, the state takes the interest accrued from all property that is turned over to the Treasurer's office. "Citizens of Kansas who have property with my office deserve to receive the full dollar value and, if applicable, interest when the property or cash is claimed," Treasurer Jenkins said. In addition to paying interest to citizens, the Treasure will continue to oppose any effort http://web.archive.org/web/20051214213050/http://kansasstatetreasurer.com/prodweb/press/press061.php[7/8/2011 1:45:48 PM] Kansas State Treasurer Website - Press Releases to assign a tax on unclaimed property returned. In general, unclaimed property includes inactive savings and checking accounts, uncashed checks, stock shares and bonds, dividend checks, insurance proceeds, mineral royalties, utility deposits, and safe deposit box contents. The Kansas State Treasurer's office receives property from businesses and state and local governments after a certain number of years as determined by law. "There is over $150 million of cash and property to return to Kansans, $8 million of which was returned to citizens just last year alone," said Jenkins. Permanent Relief to the State General Fund: Legislation passed at the end of the 2003 legislative session required the Kansas State Treasurer's office to begin assessing transaction fees to state agencies that use the office's cash management services. This change came with a cost to implement and extensive staff training to operate. Now that the cost has been incurred, the Treasurer's office will propose a bill to make this funding mechanism permanent. "This change alone saved the State General Fund nearly $1.5 million last year," Jenkins said. "This process has been well received by the majority of the state agencies we serve, and after nearly two years it is working well." The Cash Management division received and disbursed nearly $17 billion of the state's money last year from various agencies. The proposals will be introduced early in the session and referred to committee by the House Speaker or Senate President. Jenkins, a former State Representative and Senator from Topeka, was elected Treasurer on Nov. 5, 2002. She is a Certified Public Accountant and former small business owner. Since being sworn into office in January 2003, Jenkins has expanded investment options in Learning Quest, and initiated multiple financial literacy programs. Return to main press page... Return to the KST home page [Home Page] [Meet Lynn] [Divisions] [Services] [Press] [Contacts] [Links] All Pages and content are the sole property of Office of the Kansas State Treasurer Copyright 2004 All Rights Reserved http://web.archive.org/web/20051214213050/http://kansasstatetreasurer.com/prodweb/press/press061.php[7/8/2011 1:45:48 PM] Kansas State Treasurer Website - Press Releases NOV DEC MAR Close 4 captures 14 Help 14 Dec 05 - 11 May 08 2004 2005 2008 Text Only Site Press Releases Path: Home>Press Wednesday, Dec 14, 2005 Topeka, KS Time: 3:34pm kansasstatetreasurer.com FOR IMMEDIATE RELEASE For more information, call: JAN. 14, 2005 Jenalea H Linn, Spokesperson 785/296-3342(Office) 785/270-3528(Pager) [email protected] Kansas State Treasurer Lynn Jenkins expands Learning Quest and Partners with Washburn University Washburn University offers $1,000 to Learning Quest Account Holders (TOPEKA) - Today, Kansas State Treasurer Lynn Jenkins, CPA, announced the first-ever partnership between the Kansas 529 education savings program, Learning Quest, and Washburn University. The University will offer $1,000 scholarships to students with Learning Quest accounts who meet certain criteria. Additionally, Washburn will offer in- state tuition rates to out-of-state students with Learning Quest accounts. "I am thrilled with this partnership and thank President Farley and the Washburn Board of Regents," Treasurer Jenkins said. "It will encourage enrollment at Washburn and presents one more benefit to Learning Quest account owners." To be eligible for a $1,000 scholarship, Kansas residents must have an ACT score of 24 or a SAT score of 1100, and a 3.5 high school GPA. Non-resident students having Learning Quest accounts, meeting the same scholastic criteria, will be granted in-state tuition rates. "This benefit will help our talented youth stay in Kansas for their college experience," Jenkins said. The partnership was approved by the Washburn University Board of Regents at their January 14 meeting and will be in place for the 2005 fall semester. Treasurer Jenkins hopes to develop similar partnerships with other post-secondary schools in Kansas. "Students and families are the beneficiaries of this program," Jenkins said. "We hope to http://web.archive.org/web/20051214213420/http://kansasstatetreasurer.com/prodweb/press/press062.php[7/8/2011 1:45:09 PM] Kansas State Treasurer Website - Press Releases expand it by partnering with additional Kansas colleges and universities to assist more students." "The university is also pleased to have entered the partnership," said Jerry B. Farley, Washburn president. "The Kansas 529 education savings program provides future students with enhanced opportunities, which complements the mission set forth by Washburn." Learning Quest is a 529-education savings program established by the State of Kansas, and administered by the State Treasurer's office. Additional benefits beginning in 2005 include lower cost index portfolios that complement the program's current actively managed investment options. Washburn offers more than 190 programs leading to certification, associate, bachelor, master's and juris doctor degrees through the College of Arts and Sciences and the schools of Applied Studies, Business, Law and Nursing. The 140-year old school logged a record enrollment of 7,350 during the fall 2004 semester. Information about Learning Quest is available by calling 1-800-579-2203 or by visiting learningquest.com. For more information about the Kansas 529 program or any of the programs offered by Treasurer Jenkins, please visit kansasstatetreasurer.com. Jenkins, a former State Representative and Senator from Topeka, was elected Treasurer on Nov. 5, 2002. She is a Certified Public Accountant and former small business owner. Since being sworn into office in January 2003, Jenkins has expanded investment options in Learning Quest, initiated multiple financial literacy programs, and eliminated the reliance on state general fund dollars to operate the office. Return to main press page... Return to the KST home page [Home Page] [Meet Lynn] [Divisions] [Services] [Press] [Contacts] [Links] All Pages and content are the sole property of Office of the Kansas State Treasurer Copyright 2004 All Rights Reserved http://web.archive.org/web/20051214213420/http://kansasstatetreasurer.com/prodweb/press/press062.php[7/8/2011 1:45:09 PM] Kansas State Treasurer Website - Press Releases MAY DEC JAN Close 7 captures 14 Help 24 May 05 - 11 May 08 2004 2005 2008 Text Only Site Press Releases Path: Home>Press Wednesday, Dec 14, 2005 Topeka, KS Time: 3:49pm kansasstatetreasurer.com FOR IMMEDIATE RELEASE For more information, call: March 29, 2005 Jenalea H Linn, Spokesperson 785/296-3342(Office) 785/270-3528(Pager) [email protected] LEARNING QUEST 529 EDUCATION SAVINGS PROGRAM TO ADD FOUR NEW VANGUARD INVESTMENT OPTIONS TOPEKA - Kansas State Treasurer Lynn Jenkins, CPA announced that Learning Quest, Kansas's 529 Education Savings Program, will begin offering four new static investment options starting March 31. All four options will invest in index funds managed by The Vanguard Group, Inc. The new options are additions to the current static options within Learning Quest - Money Market and 100% Equity - and the 22 age/risk based blended portfolio options. "As Kansas State Treasurer and administrator of Learning Quest, I believe we have a solid 529 program. but I'm always looking for ways to enhance it," said Jenkins. "The new options managed by The Vanguard Group offer investors lower cost index options in addition to investment choices currently available through Learning Quest." American Century Investments, program manager for all Learning Quest options, will continue to manage all of the Learning Quest portfolios and service all accounts. The new portfolios include: 500 Index Portfolio - Invests in the Vanguard 500 Index Fund, which utilizes a "full replication" approach to track the S&P 500 Index. Total Growth Index Portfolio - An all stock portfolio customized for Learning Quest that seeks investment results that parallel a weighted mix of the performance of the Dow Jones Wilshire 5000 Total Market Index* (85%) and the Total International Composite Index (15%).