SB 401 - This act removes language that allowed members of the Missouri state employees' retirement system (MOSERS) and the Missouri department of transportation and highway patrol employees' retirement system (MPERS) to purchase prior creditable service for full-time compensated contract service. The act also changes the service purchase provisions in order to be consistent with current practice for purchases of military service, by providing that the salary and contribution rates are determined when a member is initially covered by MPERS or MOSERS. The act also adds language to prohibit receiving duplicate credit for purchased service in more than one retirement system for the same period of service. (Section 104.344)
The act also adds language providing that members must apply and complete service purchases under Chapters 104 and 105 prior to applying for retirement. (Section 104.606)
The act also adds language to require agreements between retirement plans for transfer of service credit. (Section 104.1090(15)
This act is identical to HB 392 (2007).