HB 772 Summary

• Prohibits members of the General Assembly from accruing credited service under the Missouri State Employees' Retirement System (Year 2000 Plan) effective January 1, 2015

• Allows current General Assembly members covered by closed plan to elect whether to switch to Year 2000 Plan coverage, with election deadline of 12 months after July 1, 2000

• Establishes that General Assembly members who elect Year 2000 Plan coverage receive annuity equal to 1/24 of monthly legislative pay multiplied by years of credited service, capped at 100% of pay

• Provides cost-of-living adjustments (COLAs) for retired General Assembly members when there are pay increases for sitting legislators

• Denies retirement benefits to any General Assembly member or statewide elected official convicted of a felony committed in connection with their official duties