HB 553 -- State Employees' Retirement Systems

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)  Allows the retirement boards to promulgate rules to
accommodate changes in the state's payroll system as it relates
to the final average compensation for the retirement benefit
calculation;

(2)  Changes the required hours for an employee to be eligible
for benefits from 1,000 hours to 1,040 hours;

(3)  Specifies that after August 28, 2007, part-time employees of
the General Assembly working less than 1,040 hours per year will
not be considered employees as it relates to retirement benefits;

(4)  Clarifies that a member may receive only one day of credited
service for any one day of calendar service; and

(5)  Changes the vesting requirement for service purchase
transfers for legislators from two to three full biennial
assemblies.

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