HCS HB 214 -- MISSOURI LOCAL GOVERNMENT EMPLOYEES' RETIREMENT
SYSTEM

SPONSOR:  Viebrock (Deeken)

COMMITTEE ACTION:  Voted "do pass by consent" by the Committee on
Retirement by a vote of 10 to 0.

This substitute changes the laws regarding the Missouri Local
Government Employees' Retirement System (LAGERS).  In its main
provisions, the substitute:

(1)  Specifies that a retiree's benefits cannot be reduced
because of a negative cost-of-living increase;

(2)  Requires at least a 10% reduction on a partial lump-sum
distribution.  Currently, if a retiree elects to receive a
partial lump-sum distribution, a retiree's monthly allowance will
be reduced accordingly based on his or her age at retirement;

(3)  Allows a retiree to authorize LAGERS to deduct premiums for
health insurance or long-term care insurance from his or her
retirement allowance; and

(4)  Creates a funding mechanism for survivor benefits when a
member dies as the result of a duty-related injury or illness.

FISCAL NOTE:  No impact on state funds in FY 2010, FY 2011, and
FY 2012.

PROPONENTS:  Supporters say that it is good to allow the
retirement system to offer an additional retirement option of
joint and 100% survivor and more convenient to allow retirees to
have their insurance premiums deducted from their retirement
check.

Testifying for the bill were Representative Deeken; and Missouri
Local Government Employees' Retirement System.

OPPONENTS:  There was no opposition voiced to the committee.

Missouri House of Representatives
95th General Assembly, 1st Regular Session
Last Updated November 17, 2009 at 9:24 am