HB 1043 -- Public School Retirement System of Missouri

Sponsor:  Lampe

This bill changes the laws regarding the Public School Retirement
System of Missouri in school districts of less than 300,000
residents.  In its main provisions, the bill:

(1)  Repeals the 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
of 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)  Changes the date retired members can begin receiving
cost-of-living increases from the fourth January 1 following the
member's retirement to the second January 1;

(3)  Changes 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

(4)  Exempts from taxation the death benefits received by retired
teachers who are employed by the board of trustees of the
retirement system as special consultants.

Missouri House of Representatives
94th General Assembly, 1st Regular Session
Last Updated July 25, 2007 at 11:21 am