SB 275
Requires the consolidation of certain state retirement systems
LR Number:
Last Action:
2/7/2005 - Second Read and Referred S Pensions, Veterans' Affairs and General Laws Committee
Journal Page:
Calendar Position:
Effective Date:
August 28, 2005

Current Bill Summary

SB 275 - Under the provisions of this act, the board of trustees of the Missouri State Employees' Retirement System (MOSERS) and the board of trustees of the Highways and Transportation Employees' and Highway Patrol Retirement System (HTEHPRS) shall take all necessary action to effectuate the consolidation of HTEHPRS into MOSERS. Such consolidation shall be completed by no later than September 1, 2008.

The act requires that the respective boards execute a written agreement describing the process by which the consolidation of the systems shall occur no later than December 31, 2005. If the retirement systems fail to enter into such an agreement by December 31, 2005, MOSERS shall assume control of HTEHPRS and be vested with all necessary powers and duties effective January 1, 2006, and the board of trustees of HTEHPRS no longer shall be vested with the power to administer the HTEHPRS.

From September 1, 2005 to September 1, 2008, the Superintendent of the Missouri State Highway Patrol and the Director of the Missouri Department of Transportation, or their successors, shall be members of the board of trustees of MOSERS and shall have the same duties and responsibilities as other members of the board.