HB 478 Repeals a July 1, 2014, termination date so that retiring teachers with thirty-one or more years of creditable service will receive a retirement allowance with a 2.55 multiplier

     Handler: Wallingford

Current Bill Summary

- Prepared by Senate Research -

HB 478 - On July 1, 2014, a provision of law expired that permitted members of the Public School Retirement System of Missouri with thirty-one years or more of creditable service to use a multiplier of 2.55 when calculating the member's retirement allowance. This act repeals the July 1, 2014 expiration date so that members with thirty-one years or more of creditable service will have their retirement allowance calculated using a multiplier of 2.55.

This act contains an emergency clause.

This act is identical to SB 219 (2015) and a provision contained in HCS/SCS/SB 172 (2015).

MICHAEL RUFF

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