FIRST REGULAR SESSION
93RD GENERAL ASSEMBLY
INTRODUCED BY REPRESENTATIVES SMITH (118) (Sponsor), RUPP, PORTWOOD, YAEGER,
SANDER, OXFORD, SATER, HOBBS AND DEEKEN (Co-sponsors).
Read 1st time January 26, 2005 and copies ordered printed.
STEPHEN S. DAVIS, Chief Clerk
AN ACT
To amend chapter 104, RSMo, by adding thereto one new section relating to public retirement systems.
Be it enacted by the General Assembly of the state of Missouri, as follows:
Section A. Chapter 104, RSMo, is amended by adding thereto one new section, to be known as section 104.609, to read as follows:
104.609. 1. Beginning September 1, 2005, the board of trustees of the state employees' retirement system and the board of trustees of the highways and transportation employees' and highway patrol retirement system shall take all necessary action to effect the consolidation of the highways and transportation employees' and highway patrol retirement system into the state employees' retirement system. Such consolidation shall be completed no later than September 1, 2008.
2. The board of trustees of the state employees' retirement system shall assume control over all assets and liabilities and be vested with the powers and duties specified in this chapter or such other powers as may be necessary and proper to enable the system, its officers, employees, and agents to carry out fully and effectively all the provisions of this chapter that relate to the highways and transportation employees' and highway patrol retirement system upon execution and in accordance with a written agreement entered into by and between the boards of trustees of the two retirement systems. Such agreement shall describe the process by which the consolidation of the highways and transportation employees' and highway patrol retirement system into the state employees' retirement system shall occur. Such agreement shall be entered into no later than December 31, 2005. If such an agreement is not entered into before January 1, 2006, the board of trustees of the state employees' retirement system shall assume control of the highways and transportation employees' and highway patrol retirement system and be vested with the powers and duties described in this chapter effective January 1, 2006. Upon the effective date of such agreement or January 1, 2006, whichever occurs first, the board of trustees of the highways and transportation employees' and highway patrol retirement system shall no longer be vested with the powers and duties specified in this chapter regarding the administration of such system.
3. During the period beginning September 1, 2005, and ending September 1, 2008, the superintendent of the state highway patrol and the director of the department of transportation shall be members of the board of trustees of the state employees' retirement system and shall have the same duties and responsibilities as other members of such board as provided by law and board policy.