Missouri State Senate

Perfected

SCS/SB 411 -This act makes certain employees of the Missouri Development Finance Board members of the Missouri State Employee's Retirement System (MOSERS). These employees may purchase credited service for any period of employment as an employee of the board prior to August 28, 2009. Employees may decide whether to transfer their individual account balance under the board's plan to MOSERS. The board must certify to MOSERS that any amount transferred to MOSERS is attributable to such contributions by the board for such employee, plus earnings thereon. MOSERS shall be immune from lawsuits and not subject to liability arising out of or associated with the proper source or nature of the amount of funds transferred. If necessary to pay for the employee's credited service, the board will be required to pay contributions to MOSERS.

EMILY KALMER

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