HB 1724 -- Public School Teachers' Retirement

Sponsor:  Froelker

This bill increases the benefit multiplier for teachers under the
Public School Retirement System.  The current multiplier for
those with 31 or more years of service is 2.55% of the member's
final average salary times years of service.  The bill increases
the multiplier as years of service increase.  The multiplier is:
2.55% for those with 31 but less than 32 years of service, 2.6%
for those with 32 but less than 33 years of service, 2.65% for
those with 33 years but less than 34 years of service, and 2.7%
for those with 34 or more years of service.  The increase applies
regardless of the age of the member.

The bill contains an emergency clause.

Missouri House of Representatives
Last Updated October 11, 2002 at 9:02 am