MO SB152

Repeals and replaces five sections of Missouri Revised Statutes relating to the St. Louis Police Retirement System, adding one new section for a total of six new sections.

Modifies required minimum distribution rules for retirement plan members to comply with Internal Revenue Code Section 401(a)(9) and U.S. Treasury regulations, including distribution deadlines and beneficiary provisions effective January 1, 2003.

Allows eligible rollover distributions to be made to direct rollovers, individual retirement accounts, annuity contracts, and effective January 1, 2010, to non-spouse beneficiaries into inherited retirement accounts.

Permits the plan to accept rollover contributions and direct rollovers from qualified plans, including after-tax employee contributions effective October 1, 2011, with separate accounting for such amounts.

Provides death benefits to surviving spouses and dependents of members who die on or after January 1, 2007 while performing qualified military service, and clarifies vesting requirements based on age fifty-five, completion of twenty years of service, or plan termination.