HCS/SCS/SB 309 - This act modifies provisions regulating various retirement systems and allows single noncharter county judicial circuits to collect a court surcharge for the construction and maintenance of judicial facilities.
PACARS (56.363- 56.840)
This act changes provisions regarding the retirement system for prosecuting and circuit attorneys.
When a county votes to make the office of prosecuting attorney a full time position then the position shall qualify for the same retirement benefits as a full time prosecutor of a first class county and such county shall make the same contributions to the Prosecuting Attorneys and Circuit Attorneys' Retirement Fund (PACARS) as paid by a first class county.
The term "compensation" as used in the PACARS retirement statutes shall include any salary reduction amounts under a cafeteria plan or a deferred compensation plan, but not include reimbursement for any expenses, consideration for agreeing to terminate employment, or any unusual payment not part of regular work pay.
Beginning on January 1, 2018, all members who are eligible to receive an annuity equal to fifty percent of the final average compensation upon retirement will contribute two percent of their salary to the fund, and beginning in 2020 such members shall contribute four percent of salary to the fund. Upon retirement and at the discretion of the board of trustees, a member can receive a lump sum of his or her total contribution not to exceed twenty-five percent of average pay, in addition to any retirement benefits.
A person who becomes a member on or after January 1, 2019, may retire with a normal annuity with twelve or more years of service and reaching the age of sixty-five. Upon termination of employment such member is entitled to a deferred normal annuity payable at age sixty.
A former member who has forfeited creditable service may have the service restored again, in addition to requirements under current law, by becoming a an employee within ten years of termination and contributing an amount to the retirement fund equal to any lump sum payment of contributions received upon termination of service.
Retired members shall receive each year a cost of living increase of at least two percent and not to exceed four percent, rather than not to exceed two percent in any year.
All members serving in a first class county, charter county, St. Louis City, or in an county who has elected to make the position of prosecuting attorney a full time position shall receive one year of creditable service for each year served as a full time prosecuting attorney. A member serving as a part-time prosecuting attorney shall receive six-tenths of a year of creditable service for each year served.
A member who vested as a part time prosecuting attorney and ceased being a member for more than six months before returning as a full time prosecuting attorney shall be entitled only to part time benefits, and any creditable service earned as a full time prosecutor shall begin a new vesting period. A member cannot receive benefits while employed as a prosecuting attorney.
These provisions are identical to provisions in SCS/HCS/HB 831 (2017) and HCS/SB 394 (2017), and substantially similar to provisions in HCS/HB 561 (2017), HB 2538 (2016), and HCS/SB 639 (2016).
KCPSRS/PSRS (169.324, 169.560)
Current law provides that a retired teacher from the Kansas City Public School Retirement System (KCPSRS) may work part-time for a school district during the school year and not forfeit his or her retirement allowance. The retired teacher may work up to 600 hours and earn 50% of the annual salary received while he or she was teaching prior to retirement.
This act expands this provision to include an individual who is employed by a third party or working as an independent contractor if the services provided by the retiree are provided to or for the benefit of any employer in the Kansas City Public School Retirement System. Documentation may be required showing proof of compliance with this provision.
This provision is identical to provisions in HB 723 (2017), the truly agreed to and finally passed version of SB 62 (2017), and HCS/SB 394 (2017), and similar to provisions in SCS/HCS/HB 831 (2017), HB 305 (2017), SB 441 (2017), HB 1710 (2016), and HCS/HB 1085 (2015).
Current law also provides that a retired teacher receiving an allowance from the Missouri Public School Retirement System (PSRS) may work part-time for a school district covered by the system and not forfeit his or her retirement allowance. The retired individual may work up to 550 hours and earn up to 50% of the annual salary received by the individual while he or she was teaching prior to retirement.
The act expands this provision to any individual who is employed by a third party or working as an independent contractor as a substitute teacher or other position normally requiring certification. Documentation may be required showing proof of compliance with this provision.
This provision is identical to provisions in the truly agreed to and finally passed version of SB 62 (2017), HB 305 (2017), SCS/HCS/HB 831 (2017), HCS/SB 394 (2017), SB 441 (2017), HB 1710 (2016), and HCS/HB 1085 (2015).
ST. LOUIS CITY PUBLIC SCHOOL RETIREMENT SYSTEM (169.460, 169.490)
This act modifies provisions relating to the public school retirement system of the City of St. Louis.
Currently, a member of the public school retirement system of the City of St. Louis may retire at age 65 or when his or her age when added to the number of years of credited service is not less than 85. This act lowers the retirement age when added to the number of years of credited service to not less than 80.
Beginning January 1, 2018, new employees hired for the first time shall have their retirement benefits calculated using a 1.75% multiplication factor. Existing employees shall have their benefits calculated using a multiplication factor of 2% for all years of service.
Beginning January 1, 2018, a current member's contribution to the retirement system shall increase by 0.5% of the member's compensation each year until the contribution rate equals 9%. Members hired on or after January 1, 2018 shall automatically contribute 9%.
For calendar year 2018, the rate of contribution payable by each employer shall equal 16% and shall decrease annually by 0.5% every year until the 2032 when the rate shall equal 9%. The rate shall remain at 9% thereafter.
These provisions are identical to HCS/HB 619 (2017) and provisions in the truly agreed to and finally passed version of SB 62 (2017), and similar to SB 409 (2017), HCS/SB 394 (2017), HB 1085 (2017), SCS/HCS/HB 304 (2017), HB 2314 (2016), and HB 1205 (2015).
JUSTICE CENTER FUND (488.2206)
This act provides that any single noncharter county judicial circuit, rather than just the Thirty-First Judicial Circuit, shall collect a surcharge of up to ten dollars in all cases to be deposited in an account known as the "Justice Center Fund". In addition to costs associated with the construction, maintenance, and operation of a judicial facility, the act states that the funds from the surcharge may be used for the planning, including architectural and engineering plans, of a judicial facility or justice center.
The county or municipality shall maintain records identifying all funds received and expenditures made from the fund.
This provision is identical to SB 83 (2017), provisions in SCS/HCB 1 (2017) and the truly agreed to and finally passed version of SB 128 (2017), and SB 1012 (2016).