Signed by Governor Jay Nixon

Vote Smart's Synopsis:

Vote to repass a bill after adopting a conference report that addresses retirement regulations for civil servants.

Highlights:

-Specifies that a state employee's normal retirement eligibility shall be the attainment of at least age 67 and the completion of at least 10 years of credited service, or the attainment of at least age 55 with the sum of the state employee's age and credited service equaling at least 90 (RSMO §104.1091). -Specifies that a civil servant shall be eligible for an early retirement annuity upon the attainment of at least age 62 and the completion of at least 10 years of credited service (RSMO §104.1091). -Requires public employees to contribute 4 percent of their pay to the retirement system as funds are credited to his or her individual account together with investment credits in order to fund retirement benefits (RSMO §104.1091). -Authorizes a former civil servant, whether vested or not, to request a refund of contributions made and interest credited thereon, with the approval of the spouse if applicable (RSMO §104.1091). -Prohibits vested former civil servants from requesting a refund after they become eligible for normal retirement (RSMO §104.1091). -Specifies that the beneficiary of any public employee who made contributions shall receive a refund upon the public employee's death equal to the amount of such contributions less any retirement benefits received by the public employee unless an annuity is payable to a survivor or beneficiary as a result of the public employee's death (RSMO §104.1091). -Specifies that anyone who is at least 67 years old and has served an aggregate of at least 20 years of service as a judge is eligible to retirement benefits, provided the person first becomes a judge, beginning January 1, 2011 (RSMO §476.521). -Specifies that anyone who is at least 62 years old and has served an aggregate of at least 20 years of service as a judge is eligible for retirement benefits, provided the person first becomes a judge, beginning January 1, 2011, or judges that have reached age 62 but have served less than 20 years may retire at a reduced rate (RSMO §476.521). -Requires judges to contribute 4 percent of their pay to the retirement system as funds are credited to his or her individual account together with investment credits in order to fund retirement benefits (RSMO §476.521). -Authorizes a judge whose employment has terminated to request a refund of contributions made and interest credited thereon, with the approval of the spouse, if applicable (RSMO §476.521). -Specifies that the beneficiary of any judge who made contributions shall receive a refund upon the judge's death equal to the amount of such contributions less any retirement benefits received by the judge unless an annuity is payable to a survivor or beneficiary as a result of the judge's death (RSMO §476.521). -Specifies that if a judge designates a spouse as his or her beneficiary, a divorce does not have any bearing on whether the spouse is still eligible to receive survivor benefits until the death of the judge (RSMO §476.529).

Full Bill Text

Vote Smart's Synopsis:

Vote to repass a bill after adopting a conference report that addresses retirement regulations for civil servants.

Highlights:

-Specifies that a state employee's normal retirement eligibility shall be the attainment of at least age 67 and the completion of at least 10 years of credited service, or the attainment of at least age 55 with the sum of the state employee's age and credited service equaling at least 90 (RSMO §104.1091). -Specifies that a civil servant shall be eligible for an early retirement annuity upon the attainment of at least age 62 and the completion of at least 10 years of credited service (RSMO §104.1091). -Requires public employees to contribute 4 percent of their pay to the retirement system as funds are credited to his or her individual account together with investment credits in order to fund retirement benefits (RSMO §104.1091). -Authorizes a former civil servant, whether vested or not, to request a refund of contributions made and interest credited thereon, with the approval of the spouse if applicable (RSMO §104.1091). -Prohibits vested former civil servants from requesting a refund after they become eligible for normal retirement (RSMO §104.1091). -Specifies that the beneficiary of any public employee who made contributions shall receive a refund upon the public employee's death equal to the amount of such contributions less any retirement benefits received by the public employee unless an annuity is payable to a survivor or beneficiary as a result of the public employee's death (RSMO §104.1091). -Specifies that anyone who is at least 67 years old and has served an aggregate of at least 20 years of service as a judge is eligible to retirement benefits, provided the person first becomes a judge, beginning January 1, 2011 (RSMO §476.521). -Specifies that anyone who is at least 62 years old and has served an aggregate of at least 20 years of service as a judge is eligible for retirement benefits, provided the person first becomes a judge, beginning January 1, 2011, or judges that have reached age 62 but have served less than 20 years may retire at a reduced rate (RSMO §476.521). -Requires judges to contribute 4 percent of their pay to the retirement system as funds are credited to his or her individual account together with investment credits in order to fund retirement benefits (RSMO §476.521). -Authorizes a judge whose employment has terminated to request a refund of contributions made and interest credited thereon, with the approval of the spouse, if applicable (RSMO §476.521). -Specifies that the beneficiary of any judge who made contributions shall receive a refund upon the judge's death equal to the amount of such contributions less any retirement benefits received by the judge unless an annuity is payable to a survivor or beneficiary as a result of the judge's death (RSMO §476.521). -Specifies that if a judge designates a spouse as his or her beneficiary, a divorce does not have any bearing on whether the spouse is still eligible to receive survivor benefits until the death of the judge (RSMO §476.529).

Full Bill Text

Vote Smart's Synopsis:

Vote to pass a bill that requires, among other provisions, members to contribute 4 percent of their pay to the state retirement system.

Highlights:

-Specifies that any retirement system established by the state of Missouri for the purpose of providing retirement plan benefits for elected or appointed public officials or employees of the state may be audited every 3 years (Sec. 29.212). -Establishes the 2010 State Employee Retirement Incentive Program, which (Sec. 104.405):

-Specifies that an employee who is retiring is therefore, eligible to receive the years of service incentive benefits; -Requires the state to pay the years of service incentive benefit to the member or the member's beneficiary over a 5-year period in 5 equal installments.

-Establishes that any employee who has not been a retiree of the system is eligible to receive the years of service incentive benefit if the employee (Sec. 104.446):

Is eligible to receive a normal annuity and terminates employment after reaching normal eligibility; and -Becomes a retiree within 60 days of such termination whose annuity commences beginning September 1, 2010, but no later than December 1, 2010.

-Requires the Missouri state employees' retirement system to make a report in writing to the commissioner of administration by January 31, 2011, in regards to the number of state employees eligible to retire and the actual retirements (Sec. 104.406). -Specifies the following eligibility criteria of a member's normal retirement (Sec. 104.1091):

-Attainment of at least 65 years of age and the completion of at least 5 years of credited service for statewide elected officials, or any other member entitled to deferred annuity covered by the Missouri State Employee's Retirement System; -Attainment of at least age 55 with the sum of the age and credited service equaling at least 84 years for members of the general assembly, statewide elected officials or any other member entitled to deferred annuity covered by the Missouri State Employee's Retirement System; -Attainment of at least age 65 and the completion of at least 3 full biennial assemblies for members of the general assembly; or -In the case of a member who is serving as a uniformed member of the highway patrol or as a corrections officer, such member's attainment of at least age 60 or, the attainment of at least age 55 with 5 years of credited service.

-Requires members to contribute 4 percent of their pay to the retirement system (Sec. 104.1091). -Authorizes a vested former member or a former member who is not vested to request a refund of his or her contributions and interest credited (Sec. 104.1091). -Specifies that the beneficiary of any member who made contributions shall receive a refund upon the member's death equal to the amount of such contributions (Sec. 104.1091). -Specifies that the employee contribution rate, the benefits provided under the year 2000 plan, and any other provision of the year 2000 plan may be altered, amended, increased, decreased, or repealed (Sec. 104.1091).

Full Bill Text