SB 1045 - This act allows any teacher retired from the Public School Employee Retirement System of Missouri (PSRS) to be employed in a position covered under the Public Education Employee Retirement System (PEERS) without stopping their retirement benefit. Such retired teacher may earn up to 50% of the minimum teacher's salary as set forth in Missouri statute and shall not contribute to PEERS or earn creditable service.
The employer's contribution rate shall be paid by the hiring employer. If a person is employed in excess of the salary limitation set forth in the act the person shall not be eligible to receive their retirement allowance for any month the person is employed and such person shall contribute to PEERS if he or she is employed in an eligible position.
This act is identical to provisions contained in SCS/HB 2044 (2018), SCS/SB 1021 (2018), and substantially similar to HCS/HB 2335 (2018) and to provisions contained in the truly agreed CCS/SCS/SB 892 (2018).