SB 1022 Abolishes the state public employees deferred compensation commission
LR Number:4150S.02I Fiscal Note:4150-02
Committee:Pensions and General Laws
Last Action:03/14/00 - Voted Do Pass S Pensions & General Laws Committee Journal page:
Effective Date:August 28, 2000
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Current Bill Summary

SB 1022 - This act removes the responsibility for the administration of the Missouri State Public Employees Deferred Compensation fund from Missouri State Employee Deferred Compensation Commission and transfers it to the Missouri State Employee Retirement System Board. The transfer of governance shall take place on January 1, 2001. All contracts entered into by the Commission before the transfer date shall be presumed to have been entered into by the Board. The board shall have the power to assess employee accounts to defray administration costs provided the board reports the assessment to the participating employees.