HCS HB 2204 -- PUBLIC SCHOOL RETIREMENT SYSTEMS

SPONSOR:  Wallace (Ervin)

COMMITTEE ACTION:  Voted "do pass by consent" by the Special
Committee on Retirement by a vote of 7 to 0.

This substitute allows a member of the Public School Retirement
System of Missouri or the Public Education Employee Retirement
System of Missouri who elected a joint and survivor option at
retirement and whose marriage to the nominated beneficiary is
dissolved and the dissolution decree provides for sole retention
by the retiree of all rights to the retirement allowance to
revert the allowance to an unreduced retirement payment option.

FISCAL NOTE:  No impact on state funds in FY 2009, FY 2010, and
FY 2011.

PROPONENTS:  Supporters say that the bill will allow retirees to
increase their retirement benefit when they no longer have a
spouse that needs their financial support.

Testifying for the bill were Representative Ervin; Missouri State
Teachers Association; Public School Retirement System of
Missouri; and Public Education Employee Retirement System of
Missouri.

OPPONENTS:  There was no opposition voiced to the committee.

Missouri House of Representatives
94th General Assembly, 2nd Regular Session
Last Updated October 15, 2008 at 3:12 pm