FIRST REGULAR SESSION
SENATE BILL NO. 275
93RD GENERAL ASSEMBLY
INTRODUCED BY SENATOR CROWELL.
Read 1st time February 1, 2005, and ordered printed.
TERRY L. SPIELER, Secretary.
1050S.01I
AN ACT
To amend chapter 104, RSMo, by adding thereto one new section relating to consolidation of state employee retirement systems.
Be it enacted by the General Assembly of the State of Missouri, as follows:
Section A. Chapter 104, RSMo, is amended by adding thereto one new section, to be known as section 104.005, to read as follows:
104.005. 1. Effective September 1, 2005, the board of trustees of the Missouri state employees' retirement system and the board of trustees of the highways and transportation employees' and highway patrol retirement system shall take all necessary action to effectuate the consolidation of the highways and transportation employees' and highway patrol retirement system into the Missouri state employees' retirement system. Such consolidation shall be completed by no later than September 1, 2008.
2. The Missouri state employees' retirement system shall assume control over all assets and liabilities and be vested with the powers and duties specified in this chapter or such other powers as may be necessary or proper to enable it, its officers, employees, and agents to carry out fully and effectively all the provisions in this chapter that pertain to the highways and transportation employees' and highway patrol retirement system upon execution of and in accordance with a written agreement entered into by and between the Missouri state employees' retirement system and the highways and transportation employees' and highway patrol retirement system. Such agreement shall describe the process by which the consolidation of the highways and transportation employees' and highway patrol retirement system into the Missouri state employees' retirement system shall occur. Such agreement shall be entered into by no later than December 31, 2005. If the Missouri state employees' retirement system and the highways and transportation employees' and highway patrol retirement system fail to enter into an agreement by December 31, 2005, the Missouri state employees' retirement system shall assume control of the highways and transportation employees' and highway patrol retirement system and be vested with the powers and duties described in this section effective January 1, 2006. The board of trustees of the highways and transportation employees' and highway patrol retirement system no longer shall be vested with the powers and duties specified in this chapter with regard to the administration of the highways and transportation employees' and highway patrol retirement system upon the effective date of such agreement or January 1, 2006, whichever occurs first.
3. During the period between September 1, 2005, and 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 the Missouri state employees' retirement system and shall have the same duties and responsibilities as other members of the board of trustees of the Missouri state employees' retirement system as provided by law and the Missouri state employees' retirement system board policy.