CCS SCS HCS HB 1 -- STATE EMPLOYEE RETIREMENT SYSTEMS

This bill changes the laws regarding state employee retirement
systems.  In its main provisions, the bill:

(1)  Specifies that any person who first becomes a state employee
on or after January 1, 2011, will be a member of the Missouri
State Employees' Retirement System (MOSERS) Year 2000 Plan.  To
be eligible for normal retirement under this plan, an employee
must be at least 67 years of age and have completed at least 10
years of credited service or be at least 55 years of age with the
sum of the employee's age and credited service equaling at least
90.  A uniformed member of the State Highway Patrol who is
subject to the mandatory retirement provisions of Section
104.081, RSMo, must be at least 60 years of age or at least 55
years of age with 10 years of credited service.  A member of the
General Assembly must be at least 62 years of age and have
completed at least three full biennial assemblies or be at least
55 years of age with the sum of the member's age and credited
service equaling at least 90.  A statewide elected official must
be at least 62 years of age and have completed at least four
years of credited service or be at least 55 years of age with the
sum of the official's age and credited service equaling at least
90.  A vested former member must be at least 67 years of age and
have completed at least 10 years of credited service.  An
employee, except for a uniformed member of the patrol who is
subject to the mandatory retirement provisions, will be eligible
for early retirement upon reaching 62 years of age with at least
10 years of credited service.  A vested former member will not be
eligible for early retirement.  An employee must work for the
state for 10 years in order to be vested in the system.  A member
of this plan is required to contribute 4% of his or her pay to
his or her individual account with the system.  A member will not
be able to purchase credit in the system for his or her previous
non-federal, full-time public employment or military service or
to transfer credit from another public retirement system.  The
employee contribution rate, the benefits under the Year 2000
Plan, and any other provision of the Year 2000 Plan may be
altered, amended, increased, decreased, or repealed, but the
change will only apply to service or interest credits after the
effective date of the change.  An employee under the plan will
not be eligible for the backdrop option;

(2)  Requires any person who first becomes a judge on or after
January 1, 2011, to be at least 67 years of age and have at least
12 years of service as a judge or be at least 62 years of age and
have at least 20 years of service as a judge before he or she is
eligible for normal retirement benefits under the Judicial Plan
with MOSERS.  If a judge retires at 67 years of age with less
than 12 years of service or at 62 years of age with less than 20
years of service, his or her retirement compensation will be
reduced proportionately.  A judge in this plan will be required
to contribute 4% of his or her compensation to his or her
individual account with the system.  A judge will not be able to
purchase credit in the plan for his or her previous non-federal,
full-time public employment or military service.  A judge under
this plan who continues to work after his or her normal
retirement date will not have cost-of-living increases added to
his or her retirement compensation for the period of time between
his or her eligibility for retirement and the actual retirement
date.  When a retired judge under this plan dies, his or her
beneficiary will not receive an amount equal to 50% of the
judge's retirement compensation.  Instead, at the time of
retirement, a judge will choose one of four payment options for
his or her beneficiary.  The employee contribution rate, the
benefits under the plan, and any other provision of the plan may
be altered, amended, increased, decreased, or repealed, but the
change will only apply to service or interest credits after the
effective date of the change; and

(3)  Prohibits a judge retiring under the provisions of the bill
who is hired as an employee eligible to participate in the MOSERS
Closed Plan or in the Year 2000 Plan from receiving judicial
retirement benefits while employed, and any judge who serves as a
judge while receiving judicial retirement under these provisions
is prohibited from receiving judicial retirement while serving as
a judge.  A judge who serves as a senior judge or senior
commissioner while receiving judicial retirement may continue to
receive judicial retirement and additional credit and salary for
the service.

Missouri House of Representatives
95th General Assembly, 1st Special Session
Last Updated August 13, 2010 at 9:52 am