HB 1138 Summary

• Beginning January 1, 2013, no member of the general assembly shall accrue credited service under the Missouri State Employees' Retirement System.

• Modifies provisions for general assembly members and statewide elected officials regarding retirement benefits, including normal retirement eligibility requirements and annuity calculations under the Year 2000 Plan.

• Establishes cost-of-living adjustment (COLA) procedures for general assembly members and statewide elected officials based on increases in their respective pay rates.

• Clarifies division of retirement benefits in dissolution of marriage proceedings, including rules for allocation between members and former spouses under the Year 2000 Plan.

• Permits service credit transfers between selected retirement plans (Year 2000 basic, general assembly, and statewide elected official provisions) while limiting such credit to eligibility determination only.