Missouri Senate

House Committee Substitute

COUNTY RECORDER (50.1190)

This act allows the county recorder of deeds to collect an additional dollar on the recording of deeds, mortgages, conveyances, or other instruments concerning land or goods. The monies collected shall be deposited into the Statutory County Record's Fund.

CERF (50.1190, 52.290, 137.280, 137.345, 140.100)

This act increases various existing fees that are deposited in the county employees’ retirement fund (CERF) and creates a new fee that will also be paid into the fund.

A fee collected from the recorder of deeds on all documents recorded or filed is increased from six dollars to nine dollars.

A fee collected on delinquent and back taxes of which three-sevenths is paid to CERF is changed from seven percent of all sums collected to nine percent. Of the nine percent collected two percent is paid to the county general fund, two percent is paid to the county's tax maintenance fund, and five percent is paid to CERF.

Penalty fees for a taxpayer failing to return personal property assessment lists to the county assessor are increased by five dollars. The assessor must annually submit to CERF the log of property lists not returned and the dollar amount associated with the penalties waived by the assessor. Additionally, CERF shall provide the Joint Committee on Public Employee Retirement an analysis of expected revenue from the assessed penalties compared to the actual revenue.

Under the act, the collector and county clerk shall each receive five dollars for recording delinquent land lists and such fee shall go to CERF.

These provisions shall go into effect January 1, 2018, and are substantially similar to provisions in SCS/HCS/HB 831 (2017) and SCS/SB 295 (2017).

TERMINATED VESTED MEMBER BUYOUT - MOSERS (104.1092)

This act allows terminated vested members of the closed plan of the Missouri State Employees' Retirement System or the Year 2000 plan to elect to receive a lump sum payment instead of a deferred annuity. The member has until May 31, 2018, to make such election.

This provision is identical to a provision contained in SCS/HCS/HB 831 (2017), HCS/HB 729 (2017), and HCS/HB 865 (2017).

CURP (104.1205)

This act provides that the retirement plan for employees of certain higher education institutions shall contribute six percent of payroll to the plan, rather then the current one percent of payroll less than the normal cost contribution rate established for employees of institutions other than outside employees, and that employees hired on or after July 1, 2018, shall contribute two percent of pay.

Additionally, all employees may contribute two percent of pay to an optional supplemental retirement account.

The effective date of this section is July 1, 2018, and the act is substantially similar to provisions in SCS/HCS/HB 831 (2017), SB 1090 (2016), and to provisions in SS/SCS/SB 980 (2016).

PSRS/PEERS (169.141, 169.715)

Currently, in the Public School Teacher Retirement System and Public Education Employees Retirement System nomination of a successor beneficiary must be filed within ninety days of a remarriage. Under the act, the nomination shall be filed within one year of a remarriage.

This act allows retired members of PSRS or PEERS who elected a reduced retirement allowance to provide for survivor benefits for his or her spouse to have the retirement allowance increased to the single life annuity amount, with no survivor benefits, if the member and his or her spouse become divorced on or after September 1, 2017, and if the dissolution decree provides for sole retention by the retired person of all rights in the retirement allowance.

Any such increase in the retirement allowance shall be effective upon the receipt of an application for the increase and a certified copy of the decree of dissolution that meets the requirements of the act.

These sections are identical to provisions in SCS/HCS/HB 831 (2017), SB 394 (2017), and HB 1709 (2016) and similar to HB 1086 (2015).

JESSI BAKER