HB 1621 -- Public School Retirement Systems

Sponsor:  Hampton

This bill changes the laws regarding public school retirement
systems and retired teachers.

PUBLIC SCHOOL RETIREMENT SYSTEMS

In school districts with 300,000 residents or less, the bill:

(1)  Repeals a provision which prohibits legislation from being
enacted after July 1, 2003, which provides benefit increases to
members and retirees unless there is a matching contribution rate
which equals 10.5% as determined by an actuarial valuation.  The
bill also repeals a provision concerning legislation which can be
enacted after July 1, 2003, that provides an extension of time
for a member to make an election for a retirement allowance;

(2)  Repeals a provision which pays cost-of-living increases to
an eligible retired member or beneficiary after December 31,
1976, as long as the total does not exceed 80% of the member's
retirement allowance established at the time of retirement or as
previously adjusted; and

(3)  Exempts from taxation, the death benefits received by
retired teachers who are employed by the Board of Trustees as
special consultants.

RETIRED TEACHERS

The bill allows retired teachers who are members of the Missouri
Retired Teachers Association to elect to have their yearly
membership dues for the organization deducted from any retirement
benefits received under this chapter.

Missouri House of Representatives
92nd General Assembly, 2nd Regular Session
Last Updated September 23, 2004 at 11:16 am