MO HB1600

General assembly members who become members on or after January 1, 2013 must reach age 67 and complete at least four full biennial assemblies to qualify for normal retirement, instead of the previous requirement of age 62 and three biennial assemblies.

Members may still retire early at age 55 if the sum of their age and credited service equals at least 90, regardless of when they became members.

All members covered by this section must contribute four percent of their pay to the retirement system, with the state employer picking up and paying these contributions.

Interest is credited annually at four percent on member account balances, with a minimum of ten years of credited service required for vesting instead of five years.

Members may request refunds of contributions and accrued interest if they terminate employment and are not vested, though vested members cannot request refunds after becoming eligible for normal retirement.