|
SB 628 - Current law provides that a vested member of the Missouri state employees' retirement system (MOSERS), or any administrative law judge or legal advisor, who has terminated all state employment for 6 months or longer may elect to receive a lump sum payment for the present value of a deferred annuity or benefit, but only if the amount of the terminated member's creditable service is less than ten years and if such member is not within five years of eligibility for receiving an annuity or benefit. This act provides that any vested member of MOSERS or any administrative law judge or legal advisor may elect to receive a lump sum payment for the present value of such deferred annuity or benefit, regardless of the amount of creditable service or length of time in which such member will be eligible for an annuity or benefit. This provision shall apply to the closed plan and year 2000 plan of MOSERS. This act also provides that all accumulated and unused sick leave shall be credited to any vested member of MOSERS' closed plan or year 2000 plan who returns to state employment, regardless of the length of time that has passed since the leave from state service occurred. ALEXA PEARSON
|