HB686--PUBLICEMPLOYEERETIREMENTPLANS
SPONSOR: Steinmeyer
ThisbillauthorizesamethodologyfortheBoardofTrusteesofthe
MissouriStateEmployees'RetirementSystemtorecoverover
paymentsmadetoabeneficiaryinerror,eitherinasinglesumor
ininstallmentrepayments. Undercurrentlaw,theboard'srecovery
oftheoverpaymentsmadetoabeneficiaryispermissive. A
similarmethodologyfortherecoveryofoverpaymentserroneously
madeisincludedinSection104.1060,RSMo.
Thebillreinstatesthetimeperiodforamembertomakean
electiontoreceivealumpsumpaymentofthemember’sdeferred
annuityinlieuofretirementannuitybenefits,undertheclosed
planoryear2000plan,toonorafterJanuary1,2026.Under
currentlaw,theelectionmaybemadebythememberbeginningona
dateestablishedbytheboardundersuchplan,butnotafterMay
31,2018.
Thisbillprohibitsthecontributionorexpenditureofsystemfunds
byanypublicpensionsystemtoadvocate,support,oropposethe
passageordefeatofanyballotmeasureorthenominationor
electionofanycandidateforpublicoffice.Inaddition,the
systemfundscannotbeusedtopayanydebtsorobligationsofany
committeesupportingoropposingballotmeasuresorcandidates.The
billdefinestheterm"system".