SB 877
Modifies the retirement allowance multiplier for certain members of the Public School Retirement System of Missouri
LR Number:
Last Action:
3/27/2024 - SCS Voted Do Pass S Veterans, Military Affairs and Pensions Committee (3048S.02C)
Journal Page:
Effective Date:
August 28, 2024

Current Bill Summary

SCS/SB 877 - Current law provides that the normal retirement allowance multiplier for a member of the Public School Retirement System of Missouri is 2.5% of the member's final average salary for each year of the membership service, except if the member has 32 years or more of service, then the multiplier shall be 2.55%. This act provides that for those members with 33 years of service or more the multiplier factor shall be 2.6%.

This act is identical to a provision in the perfected SS/SB 898 (2024) and in SCS/HCS/HB 2431 (2024) and is similar to SB 556 (2023).



No Amendments Found.