MO HB2200

Excludes pay exceeding one-twelfth of the governor's annual salary from retirement benefit calculations for state employees first hired on or after August 28, 2014.

Applies the salary cap to members of the Missouri state employees' retirement system and the Missouri department of transportation and highway patrol employees' retirement system.

Repeals and reenacts section 104.1003, RSMo, to modify the definition of "pay" used in calculating annuities and final average pay for affected employees.

Preserves existing retirement benefit rules for employees hired before the effective date while establishing a new compensation cap for future employees.