HB495--SCHOOLEMPLOYEERETIREMENT
SPONSOR: Lewis(6)
Thisbillreinstatesanexpiredprovisionoflawsthatallowsa
memberofthePublicSchoolRetirementSystem(PSRS)toreceive
2.55%ofhisorherfinalaveragesalaryforeachyearof
membershipservice,ifheorshecontinuedtoteachafter32years
ormoreofservice(Section169.070,RSMo).
Currently,anyteacherretiredasamemberofPSRScanbeemployed
inapositioncoveredunderthePublicEducationEmployee
RetirementSystemofMissouri(PEERS)withoutstoppingtheir
retirementbenefit.
Suchteachersmayearnupto60%oftheminimumteacher'ssalaryas
specifiedinthebill,butwillnotcontributetoeitherretirement
systemnorearncreditableservice.
Thisbillallowssuchteacherstoearnuptotheannualearnings
limitapplicabletoaSocialSecurityrecipientbeforethecalendar
yearofattainmentoffullretirementageunderfederal
regulations.
Additionally,thisbillshallnotapplytoretiredmembers
currentlyreceivingbenefitswhoareemployedasafull-time
teacherofcertainstateagenciesandinstitutions(Section
169.560).
ThisbillissimilartoSB75(2023).