The Kansas public employees retirement system shall pay from the retirement dividend payment reserve of the Kansas public employees retirement fund to the board of education of the school district required to pay retirant dividend payments under K.S.A. 74-49,111 and amendments thereto, the annual amount required to make the retirement dividend payments payable to local school annuitants under K.S.A. 74-49,111 and amendments thereto. The board of education of such school district shall certify by August 1 of each year to the Kansas public employees retirement system all information necessary for the administration and determination of the annual amount to be paid to such school district under this section.
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