HB 669 -- Public School Retirement System

Sponsor:  Lampe

This bill changes the laws regarding the Public School Retirement
System of Missouri in school districts with 300,000 residents or
less.  The bill:

(1)  Repeals provisions which prohibit 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 and
provides an extension of time for a member to make an election
for a retirement allowance;

(2)  Increases the amount of cost-of-living increases an eligible
retired member or beneficiary may receive from 80% to 90% of the
member's original retirement benefit; and

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

Missouri House of Representatives
93rd General Assembly, 1st Regular Session
Last Updated August 25, 2005 at 1:20 pm