SB 954 Modifies the retirement allowance calculation for members of the Public School Retirement System with thirty-one or more years of service
Sponsor: Pearce
LR Number: 5906S.01I Fiscal Notes
Committee: Education
Last Action: 2/24/2016 - Hearing Conducted S Education Committee Journal Page:
Title: Calendar Position:
Effective Date: Emergency clause

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Current Bill Summary


SB 954 - On July 1, 2014, a provision of law expired that permitted members of the Public School Retirement System of Missouri with thirty-one years or more of creditable service to use a multiplier of 2.55 when calculating the member's retirement allowance. This act repeals the July 1, 2014 expiration date so that members with thirty-one years or more of creditable service will have their retirement allowance calculated using a multiplier of 2.55.

This act contains an emergency clause.

This act is identical to HCS/HBs 1780 & 1420 (2016), SB 219 (2015), HCS/HB 478 (2015), and a provision contained in HCS/SCS/SB 172 (2015).

JOSHUA NORBERG