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SB 406 - This act: Adds language that would allow the board to promulgate rules necessary to accommodate any change in the state payroll system as it relates to how final average compensation is calculated for purposes of determining a retirement benefit. (Section 104.010(7)) Changes the required hours for benefit eligibility under the definition of "employee" from 1000 to 1040 hours to be consistent with the personnel advisory board rules. (Section 104.010.1(20)(a)) Provides that a retiree is not an employee, changes the required hours for benefit eligibility from 1000 to 1040 hours, and further requires that legislative employees who are employed on or after August 28, 2007, be treated like all other state employees with regards to retirement eligibility. (Section 104.010.1(20)(b)) Changes the "Highways and Transportation and Highway Patrol Employees' Retirement System" to the "Missouri Department of Transportation and Highway Patrol Employees' Retirement System" (MPERS) in order to reflect the most recent name change, and provides that the definition of a member for MPERS and MOSERS. (Section 104.010(27)) Changes the "Highways and Transportation and Highway Patrol Employees' Retirement System" to the "Missouri Department of Transportation and Highway Patrol Employees' Retirement System" in order to reflect the most recent name change. (Section 104.010(36)) Adds language to allow MOSERS to pay benefits under a benefit plan subject to limitations under Section 415(m) of the Internal Revenue Code (regarding qualified governmental excess benefit arrangements). (Section 104.010.2) Eliminates provisions that allowed for prior service credit for part-time legislative service that did not qualify for retirement eligibility. (Section 104.352.1.) Corrects a numerical statutory reference. (Section 104.352.2 and 104.352.3) Corrects a numerical statutory reference. (Section 104.354) Provides that a member may receive only one day of credited service for any one day of calendar service. (Section 104.1003(9)) Changes the required hours for benefit eligibility under the definition of "employee" from 1000 to 1040 hours, to be consistent with personnel advisory rules. (Section 104.352.2 and 104.1003(13)) Amends the definition of "employee" in the new plan to include part-time legislative employees employed on or after July 1, 2000, but prior to August 28, 2007. (Section 104.1003(13)(e)) Adds language that would allow the board to promulgate rules necessary to accommodate any change in the state payroll system as it relates to how final average compensation is calculated for purposes of determining a retirement benefit. (Section 104.1003(16)) Adds language providing that pay does not include any amounts for which contributions have not been made. (Section 104.1003(21)(e)) Changes the "Highways and Transportation and Highway Patrol Employees' Retirement System" to the "Missouri Department of Transportation and Highway Patrol Employees' Retirement System" to reflect the most recent name change. (Section 104.1003(24)) Adds language to allow MOSERS to pay benefits under a benefit plan subject to limitations under Section 415(m) of the Internal Revenue Code (regarding qualified governmental excess benefit arrangements). (Section 104.1003.2) Corrects a numerical statutory reference, and changes the legislative service requirement for purchasing service from two to three biennial assemblies, to be consistent when the legislative vesting requirements. (Section 104.1021.11) Corrects a numerical statutory reference. (Section 104.1087.1) This act is identical to HB 390 (2007), and provisions within this act are similar to HB 1306 (2006). ALEXA PEARSON
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