HB 448 - This act specifies how duty-related death benefits will be funded for the Missouri Local Government Employees' Retirement System (LAGERS). In the same way as when a disability benefit is due to a member of the LAGERS system, when a duty-related death benefit is due to a beneficiary, the accrued service pension reserve will be calculated, as of the effective date of the disability benefit. Contributions from political subdivisions for duty-related death benefits will be held in the Casualty Reserve Fund. Political subdivisions that participate in LAGERS will have a portion of their contributions for duty-related death benefits determined on a one-year term basis in the same way that their contribution for a portion of disability benefits is determined.
This act is similar to provisions of SS/SCS/HB 282 (2011) and SB 121 (2011).