Kansas Department of Administration

01-P-001 Changes to SHARP Savings Bond Process

Posted on October 21, 2021 at 12:50 PM by Kansas Department of Administration

DATE: July 5, 2000
SUBJECT: Changes to SHARP Savings Bond Process
EFFECTIVE DATE: July 1, 2000
CONTACT: Roger Basinger (785) 296-5387 roger.basinger@da.state.ks.us
SUMMARY: Changes to SHARP Savings Bond Process

An employees Bond Specification Record is comprised of a bond denomination field, a bond owner field, other registrant type field (co-owner/beneficiary), and co-owner/beneficiary ID field. When a change is made to any of these fields, a new bond priority is created. Currently, if a balance remains with the old bond priority, the balance has to be identified and moved through a manual process to the new bond priority. To automate this process, SHARP agency personnel making changes to an employees Bond Specification Record after June 30, 2000 will encounter a new 'pop-up message if the employee has a current balance not equal to zero. This message will state that a balance exists for the employees old bond data combination and will automatically be applied to the new bond data combination being entered. Agency personnel should click OK to complete the record save.

Transactions will be written to the Savings Bond Activity Log showing the transfer of balances from the old bond combination to the new bond combination. If the employee does not want the balance transferred forward to the new bond combination to be used towards the purchase of a bond, agency personnel can request a refund through the regular refund process.

Because of these changes to this process, changes to the bond specification records should not be future-dated further than two weeks.

For Regent Institutions, this process will be triggered automatically when changes are made to the Bond Specification Records through the Regents Benefits Interface.


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