SB 598
Modifies eligibility of retirement benefits resulting from membership in multiple defined benefit plans established by a state or local retirement system
Sponsor:
LR Number:
1261S.01I
Committee:
Last Action:
4/14/2021 - Hearing Cancelled S Health and Pensions Committee
Journal Page:
Title:
Calendar Position:
Effective Date:
August 28, 2021

Current Bill Summary

SB 598 - This act provides that any participant eligible for retirement benefits resulting from membership in one or more defined benefit plans established by the state of Missouri or any political subdivision or instrumentality of the state shall receive retirement benefits from only one such defined benefit plan. Before any participant receives retirement benefits, the participant shall notify the plan that he or she is not receiving retirement benefits from another plan. The provisions of this act shall apply to any public official or employee who is employed for the first time on or after January 1, 2021. The provisions of this act shall not apply to rights to transfer creditable service from one system to another.

KATIE O'BRIEN

Amendments

No Amendments Found.