SCS/HCS/HB 1644 - This act modifies various provisions of the Missouri State Employees Retirement System (MOSERS), the Highway and Transportation Employees' and Highway Patrol Retirement System (HRS), the Public School Retirement System (PSRS) and the Non-Teacher School Retirement System.

SECTION 104.010.1(15) - Limits one day of creditable service or creditable prior service to one calendar day of eligible service credit. This clarification is designed to prevent duplication of service credit. MOSERS/HRS

SECTION 104.010.1(27) - Clarifies name of retirement system remains unchanged although the department designation was changed. HRS

SECTION 104.090 - Allows retirees in closed plan to name a new spouse as beneficiary within one year of remarriage. HRS

SECTION 104.103 - Changes effective date for "pop-up" benefit for joint and full option from receipt of written application to month following death of spouse. HRS

SECTION 104.140 - Removes 2 years of marriage requirement for death benefits prior to retirement and provides 50 percent of compensation death benefit as a result of duty death. HRS

SECTION 104.335.6(2) - Allows a member who is re-employed to purchase creditable service within one year of employment. (Eliminates the requirement for being re-employed twelve consecutive months and the ninety-day limitation period in which such purchase can occur.) MOSERS

SECTION 104.344 - Allows currently employed members to purchase up to four years of creditable prior service for contract or grant service in any plan in which the member is receiving service credit for active employment or is eligible for a deferred annuity. MOSERS

SECTION 104.345 - Removes the ninety-day window associated with transfer of service for circuit clerk employees. Grants current members creditable prior service. MOSERS

SECTION 104.350 - Restores prior non-vested service upon re- employment (removes one-year limitation). MOSERS

SECTION 104.372 - Eliminates the two-year marriage requirement for members of the General Assembly. MOSERS

SECTION 104.380 - Removes the one-year restoration of service provisions and clarifies how creditable service is calculated. MOSERS

SECTION 104.395 - Removes the one-year marriage requirement under the joint and survivor options and changes the period for renaming a spouse under a survivor option form six months to one year from the date of marriage. Also includes special consultant language that would make this provision available to retirees and terminated-vested members. MOSERS

SECTION 104.420 - Removes the two-year marriage requirement in the event of death in-service. MOSERS

SECTION 104.517 - Effective January 1, 2001, basic life insurance is changed from $15,000 to one-times subject to minimum of $15,000.

SECTION 104.517.4 - Allows HRS or MHTC to contract for $5,000 death benefit in order to avoid federal income tax applications. Present federal tax law considers a direct death benefit to be income while life insurance benefit is not considered income. MOSERS/HRS

SECTION 104.610 - Allows survivors who previously were ineligible to receive a benefit due to the two-year marriage requirement for death in-service to receive such benefit through the use of special consultant language. MOSERS/HRS

MSEP 2000 (New Plan MOSERS & HRS)

SECTION 104.1015 - Allows retirees to re-elect an option, with spousal consent, upon transferring to the MSEP 2000. Current members of General Assembly with less than three terms shall be vested with two terms under the YR 2000 Plan.

SECTION 104.1024.3 - Clarifies "full" years of credited service under the minimum benefit provisions to be consistent with the MSEP.

SECTION 104.1024.4 - Allows the temporary annuity in the Year 2000 Plan to be given to uniformed members who retire due to attaining the age of 60 with five years of credited service.

SECTION 104.1027 - Removes the one-year marriage requirement under the joint and survivor options and changes the period of renaming a spouse under a survivor option from six months to one year from the date of marriage.

SECTION 104.1042 - Eliminates the provision that prohibits members receiving federal social security disability payments from receiving the temporary annuity.

SECTION 104.1072.1 - Life insurance is provided identical to provisions in Section 104.517.

SECTION 104.1072.4 - Allows HRS to request MHTC assistance in providing life insurance benefits in Year 2000 Plan.

SECTION 104.1090 - Clarifies transfers are only available to active employees under the MSEP and MSEP 2000. Further clarifies that defined contribution plans are eligible under the portability provisions.

PUBLIC SCHOOL RETIREMENT SYSTEM

SECTION 168.021 - Member with 10 or more years service holding an administrator's certificate in another state obtaining certification at later date granted creditable service.

SECTION 169.070 - Extends the 25-and-Out window to 2003. COLA effective on 3rd January vs. 4th January for members retiring after July 1, 2000. In addition, COLA cap is increased from 75 percent to 80 percent.

Retirees and beneficiaries retired prior to July 1, 2000 will receive an ad hoc increase in benefits of 3.5 percent.

SECTION 169.075 - Clarification of future survivor and beneficiary payments.

NON-TEACHER SCHOOL RETIREMENT SYSTEM

SECTION 169.600 - Changes 5 Year Final Average Salary period to 3 years.

SECTION 169.620 - Increases both Employer and Employee Contribution from 4.5 percent to 5 percent.

SECTION 169.670 - Adds 80 and Out provisions; Increases benefit formula from 1.45 percent to 1.5 percent; Extends Early 25 and Out provisions another 3 years and amends formula accordingly; Increases supplemental benefit by .4 percent for members choosing Option 7; Ad Hoc COLA of 3.4 percent to members retired prior to July 1, 2000;

The act will become effective upon signature by the Governor or on July 1, 2000, whichever occurs later.
TOM MORTON