MO SB107

Firefighters hired on or after August 29, 2013 must complete 30 years of service (up from 25 years) for full retirement benefits and will use a 5-year average final compensation calculation instead of 2 years

Maximum retirement allowance for new hires after August 29, 2013 reduced to 70% of average final compensation (down from 75%), with benefit accrual rate of 2% per year for first 25 years plus 4% per year thereafter (down from 5%)

New hires receive only 25% refund of their contributions upon retirement (current members receive 100%), and unused sick leave cannot be applied toward creditable service or retirement calculations

Annual cost-of-living adjustments for members hired after August 29, 2013 reduced to 1% per year (current members receive 1.5% to 5% depending on years of service and age)

Disability retirement applications must disclose all pre-employment injuries and conditions, with no disability benefits paid for conditions existing prior to firefighter employment; disabled retirees must submit annual Social Security Administration earnings statements