MO HB1583

Establishes the "2010 State Employee Retirement Incentive Program" offering a "years of service incentive benefit" equal to $1,000 per year of creditable service, up to a maximum of $20,000 for employees with at least 10 years of service.

Eligible employees must terminate employment after December 31, 2009, reach normal retirement eligibility, become retirees within 60 days of termination, and have annuities commence between January 1, 2010 and September 1, 2010.

Benefit payments shall be made in five equal annual installments beginning in September 2010 through September 2014 by the Office of Administration.

Departments may only fill vacated positions using up to 50% of the personal service funds from those positions, except for federally funded positions; retiring employees are prohibited from any subsequent state employment.

Requires interim and annual reports to the General Assembly through December 31, 2014 detailing program participation, costs, unfilled positions, and refilled positions.