HCS/HB 811 - This act modifies provisions related to the Public School Retirement System and Public Education Employee Retirement System.
Under current law, from July 1, 2001, to July 1, 2014, the retirement allowance calculation for members of the Public School Retirement System who have 31 or more years of creditable service includes a multiplier of 2.55%. This act removes the effective and expiration dates and modifies the required years of service to 32. (Section 169.070)
These provisions are identical to HB 1298 (2020), HB 69 (2019), and HB 2633 (2018).
Under current law, any person receiving a retirement allowance under the Public School Retirement System may be employed in a position covered by the retirement system that does not require a teaching license without a discontinuance of retirement benefits. This act modifies the maximum amount that such person may be paid, from 60% of the minimum teacher's salary, to the annual exempt amount applicable to a Social Security beneficiary before the year of full retirement age pursuant to Social Security Administration regulations. The exempt amount shall be determined based on the calendar year that begins the school year in which the person reached full retirement age.
This act modifies provisions of current law by allowing a certified teacher retired under the Public School Retirement System or noncertified employees retired under the Public Education Employee Retirement System to be employed full time by a school district for up to four, rather than two, years without losing retirement benefits when the school district has a shortage of certified teachers or noncertified employees. (Section 169.596)
These provisions are similar to HB 2460 (2020).