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SB 466 - This act provides temporary retirement incentives and medical incentives for employees currently eligible to retire under the Missouri State Employees' Retirement System (MOSERS). This act provides that employees currently eligible to retire will receive medical coverage at the active employee rate. The active employee rate will then revert to the regular retiree rate after five years or Medicare eligibility, which ever occurs first. This act also provides a temporary retirement incentive from May 1, 2005 through September 1, 2005, for employees whose age and service total seventy-eight years. Unused sick leave will be credited towards eligibility. Currently, the employee’s age and service must total eighty years. In addition, the act allows for a seventy percent health care subsidy to be provided to the retiree for five years or until Medicare eligibility. If a retiree’s annual leave accrual payments are in excess of two thousand dollars, the payments will be staggered over a two-year period. Also, the retiree will be prohibited from any employment with any department for a period of two years from the date of election. All of the vacated positions are held to a twenty-five percent re-hire limitation, with exceptions for critical,seasonal or federally funded positions. The exceptions are defined by rules promulgated from the Office of Administration. This act has an emergency clause. ADRIANE CROUSE
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