HB 261 -- Local Government Employees' Retirement System

Sponsor:  Deeken

This bill creates two new benefit options in the Local Government
Employees' Retirement System (LAGERS).

Members covered by the new benefit programs will receive a
benefit equal to 1.75% of the member's final average salary
multiplied by the number of years of creditable service.  Certain
members retiring due to early retirement, 80 and out, or
mandatory retirement will receive a temporary allowance equal to
.25% of the member's final average salary multiplied by the
number of years of creditable service.  This temporary benefit
will terminate at the end of the calendar month in which the
member dies or attains age 65.

After August 28, 2005, political subdivisions may not elect
coverage under the new programs.

Missouri House of Representatives
93rd General Assembly, 1st Regular Session
Last Updated August 25, 2005 at 1:18 pm