MO SB414

Creates section 29.212 allowing the state auditor to audit any state or local retirement system providing benefits to public officials or employees once every three years, or more frequently as required by law.

Repeals and reenacts section 56.809 governing the Prosecuting Attorneys' Retirement System Board of Trustees, maintaining a five-member board elected by prosecuting and circuit attorneys with four-year terms.

Repeals and reenacts section 70.605 governing the Missouri Local Government Employees' Retirement System Board of Trustees, maintaining a seven-member board consisting of three members elected by system members, three elected by employer governing bodies, and one appointed by the governor.

Changes state auditor authority from mandatory examination of retirement system audits to discretionary audits once every three years for both the prosecuting attorneys and local government employee retirement systems.