SB 1228 Modifies provisions regarding LAGERS benefits within the City of Lebanon
Sponsor: Purgason
LR Number: 5382S.01I Fiscal Note: 5382-01
Committee: Pensions, Veterans' Affairs and General Laws
Last Action: 4/11/2006 - Hearing Conducted S Pensions, Veterans' Affairs and General Laws Committee Journal Page:
Title: Calendar Position:
Effective Date: August 28, 2006

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Current Bill Summary


SB 1228 - Current law provides that a member of the Missouri local government employees' retirement system (LAGERS) with credited service covered by benefit program L-1 shall receive an allowance for life equal to one percent of the member's final salary multiplied by the years of credited service, if the member's employer elects to provide such benefits. This act provides that within the city of Lebanon, a member of LAGERS who has credited service of at least twenty years covered by benefit program L-1 shall receive an allowance for life equal to two percent of the member's final salary multiplied by the number of years of credited service accrued on or after the effective date of this act, if the member’s employer elects to provide such benefits.

The provisions of this act shall not be applied retroactively.

ALEXA PEARSON