HB 393 -- State Employees' Retirement

Sponsor:  Dempsey

This bill changes the laws regarding the Missouri State
Employees' Retirement System (MOSERS) and the Missouri Department
of Transportation and Highway Patrol Employees' Retirement System
(MPERS).  In its main provisions, the bill:

(1)  Specifies that if a retiree of MOSERS, who has elected a
joint and survivor option, dies prior to notifying the system of
the spouse's death that his or her benefit will not revert to a
normal annuity and no retroactive payments will be made;

(2)  Specifies that if the board of MOSERS or MPERS provides
education or advice to members pertaining to retirement planning,
it will not be liable for retirement or investment decisions made
by members as long as the board acted with due diligence in
providing the advice;

(3)  Clarifies that any temporary annuity payable to a retiree,
under the Year 2000 Plan, will terminate no later than at age 62;
and

(4)  Clarifies that retirees, under the Year 2000 Plan, can
retain optional life insurance coverage in excess of $60,000
until age 62.

Missouri House of Representatives
94th General Assembly, 1st Regular Session
Last Updated July 25, 2007 at 11:19 am