MO HB879

Repeals and re-enacts section 50.1260, RSMo relating to direct rollover distributions under the county employees' retirement system.

Allows distributees to elect direct rollover of eligible distributions to specified retirement plans subject to board regulations and procedures.

Defines eligible rollover distributions to exclude substantially equal periodic payments over life or 10+ years, required distributions under federal law, and non-taxable distribution portions.

Permits both complete and partial direct rollovers, with partial rollovers requiring a minimum of $500 and remainder paid directly to the distributee.

Establishes that distributions under $200 are not eligible rollovers if all such distributions in the calendar year are expected to total less than $200, and non-electing distributees are deemed to have rejected the rollover option.