HB2234--RETIREMENTSYSTEMS
SPONSOR: Black(7)
ThebillproposescleanuplanguageaffectingtheMissouriState
Employees'RetirementSystem(MOSERS)andtheMissouriDepartment
ofTransportation andHighwayPatrolEmployees'RetirementSystem
(MPERS).
Thebillmodifiesthedefinitionof"compensation" toallowthe
respectiveboardstodefine"compensation" byrules(Section
104.010,RSMo).
MPERS
ThebillmakesthefollowingmodificationstoMPERS:
(1)ExpandsthepowersanddutiesofMPERStoincludeadditional
Sections104.271,104.272,and104.312;
(2)Allowsaterminatedvestedemployeetorestoreserviceifthey
becomeamember,workingforadepartment,foronedayinsteadof
oneyear(Section104.035);
(3)RepealsSection104.130relatingtodeathbenefitsforretired
members;
(4)RemoveslanguagerequiringtheelectionoftheChairandVice
ChairoftheMPERSBoardfrombeingbysecretballot(Section
104.170);
(5)Clarifiesthatthestatuteoflimitationsforcorrectingan
errorstartsuponthemember’sannuitystartingdateordateof
error,whicheverislater.Thischangealsoaddslanguageto
excludecasesoffraudfromthestatuteoflimitations(Section
104.200);and
(6)SpecifiesemployeesoftheStateWaterPatrolthatterminate
employmentandreturntothesamepositionaremembersofthe
systeminwhichheorshewasamemberpriortoterminationandif
theemployeereturnstoanyotherjobheorsheisamemberofthe
systemthatcurrentlycoversthatposition(Section104.810).
MOSERS
ThebillmakesthefollowingmodificationstoMOSERS:
(1)ExcludesserviceaccruedunderSection104.601fromdivision
ofbenefitordersandmoveslanguagefromSection104.625related todivisionofbenefitordersandbackdroppaymentstoSection
104.312whereotherdivisionofbenefitorderlanguageresides
(Section104.312);
(2)LimitstheamountofserviceamemberoftheGeneralAssembly
orstatewideelectedofficialcanaccruewhileonlong-term
disability(Section104.410);
(3)Removestherequirementthatthecontributionsforunfunded
accruedliabilitiesbedeterminedusingthelevelpercent-of-
payrollamortizationmethod(Section104.436);
(4)Clarifiesthatthestatuteoflimitationsforcorrectingan
errorstartsuponthemember’sannuitystartingdateordateof
error,whicheverislater.Thischangealsoaddslanguageto
excludecasesoffraudfromthestatuteoflimitations(Sections
104.490.1and104.1060);
(5)Allowsmemberswhoterminateemploymentafterreachingnormal
orearlyretirementageandbecomearetireewithin65daysof
termination,insteadof60days,toreceive$5,000oflife
insurancecoverage(Section104.515);
(6)Removestheoptionformemberstoreceivethelumpsum
backdroppaymentinthreeequalinstallments(Sections104.625and
104.1024);
(7)Removesanyserviceofamemberaccruedduringthebackdrop
periodfrombeingconsideredcreditableservicewhencalculating
themonthlyamountunderadivisionofbenefitorderpursuantto
Section104.312(Section104.625);
(8)Modifiesthedefinitionof"pay"toallowtherespectiveboard
todefine"compensation" byrulesanddeletesthedefinitionof
yearasusedinthedefinitionofemployee. Thislanguageshould
havepreviouslybeenremovedwhenSection104.1039wasmodifiedto
reflectrequirementsforreemployedmembers(Section104.1003);
(9)Clarifiesthatmemberswhoterminateafterreachingnormal
retirementeligibilityareeligibletoretireundertheprovisions
ofSection104.1024(Section104.1018);
(10)Correctsastatutorycitation(Section104.1024);
(11)Clarifiesthatmemberswhoterminateafterreachingnormal
eligibilityareeligibletoretireundertheprovisionsofSection
104.1024;
(12)Removesanyserviceofamemberaccruedduringthebackdrop periodfrombeingconsideredcreditableservicewhencalculating
themonthlyamountunderadivisionofbenefitorder(Section
104.1024);
(13)Excludesamember’ssickleaveaccrualsfromthecalculation
ofthemonthlybenefitamountsubjecttodivisionunderadivision
ofbenefitorder(Section104.1051);
(14)MoveslanguagefromSection104.1024relatedtodivisionof
benefitordersandbackdroppaymentstoSection104.1051where
otherdivisionofbenefitorderlanguageresides;
(15)Removestherequirementthatthecontributionsforunfunded
accruedliabilitiesbedeterminedusingthelevelpercent-of-
payrollamortizationmethod(Section104.1066);
(16)Allowsmemberswhoterminateemploymentafterreachingnormal
orearlyretirementageandbecomearetireewithin65daysof
termination,insteadof60days,toreceive$5,000oflife
insurancecoverage(Section104.1072);
(17)LimitstheamountofserviceamemberoftheGeneralAssembly
orstatewideelectedofficialcanaccruewhileonlong-term
disability(Section104.1084);
(18)Clarifiesthatmemberswhoterminateemploymentafter
reachingearlyretirementeligibilityremaineligibleforearly
retirement(Section104.1091);
(19)Clarifieswhenamembercanreceivearefundoftheir
employeecontributionsaftertermination(Section104.1091);
(20)Clarifiesthatmemberswhoterminateafterreachingnormal
retirementeligibilityareeligibletoretire(Section104.1091);
(21)Clarifiesthatmemberswhoterminateemploymentafter
reachingearlyretirementeligibilityremaineligibleforearly
retirement(Section104.1091);
(22)Clarifiesthatthedelayedsurvivorannuityprovisionapplies
tomemberswhoterminatedemploymentpriortoreachingearly
retirementeligibility(Section104.1091);
(23)Clarifiesthatthedelayedcost-of-livingprovision
adjustmentappliestomemberswhoterminatedemploymentpriorto
reachingearlyretirementeligibility(Section104.1091);and
(24)Makestheinterestratecreditedtoajudge’semployee
contributionbalancethe52weektreasurybillrate,insteadof4%. ThischangebringstheJudicial2011planinalignwiththeMSEP
2011plan(Section476.521).