MO SB1048

Applies new retirement requirements to employees and judges hired on or after January 1, 2011, including higher minimum ages and service requirements compared to existing plans

Requires 4 percent employee contribution rate for eligible new hires, with contributions picked up by the employer as non-taxable compensation under federal law

Mandates mandatory retirement at age 62 for uniformed highway patrol members effective January 1, 2011

Applies 4 percent contribution requirement to existing employees and judges earning $8,334 or more monthly beginning January 1, 2011

Establishes four annuity payment options for judges hired after January 1, 2011, allowing reduced annuities with beneficiary payments ranging from 50 percent to 100 percent continuation upon retiree's death