FIRST REGULAR SESSION

HOUSE BILL NO. 623

93RD GENERAL ASSEMBLY

INTRODUCED BY REPRESENTATIVE SKAGGS.

         Read 1^st time Febbruary 23, 2005 and copies ordered printed.

STEPHEN S. DAVIS, Chief Clerk

0194L.01I

AN ACT

To amend chapter 104, RSMo, by adding thereto one new section relating to state employee retirement.

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 104.618, to read as follows:

            104.618. Effective September 1, 2005, any retiree receiving a cost of living increase pursuant to sections 104.415 and 104.612 reaching the limit on total annual increases shall receive in addition to any other annual benefit increases payable, an amount equal to one-tenth of one percent of the average compensation on the date of the initial retirement multiplied by the number of years of creditable service. This benefit shall be payable effective on the first month following the month in which the retiree reaches the limit on the total annual benefit increases.