MO HB954

Employees hired by the Missouri Development Finance Board on or after September 1, 2011, in full-time positions become state employees and members of the Missouri State Employees' Retirement System.

Health coverage under the Missouri consolidated health care plan is excluded unless specifically requested by the Missouri Development Finance Board and approved by the board of trustees.

Employees may purchase creditable service in the retirement system for prior full-time service with the Missouri Development Finance Board up to their actual years of service, with cost determined by actuarial accrued liability.

Employees can purchase prior service credit at any time after September 1, 2011, before retirement, and may receive refunds of purchase amounts if they terminate employment before becoming vested.

The Missouri Development Finance Board may request to join the consolidated health care plan, with the ability to withdraw upon six months' notice and approval from the board.