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MO HB819
Bill
Status
2/4/2015
Primary Sponsor
Don Rone
Click for details
AI Summary
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Publicly-owned hospitals participating in the Missouri Local Government Employees Retirement System (LAGERS) may request a refund of accumulated retirement funds when their employer accumulation fund exceeds 110% of the accrued actuarial value
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Maximum refund amount is calculated as the actuarial value of assets minus 110% of the entry age actuarial accrued liability, as determined by the system actuary
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Any annual contribution shortages owed by the hospital must be deducted from the refund amount
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Amends Section 70.730, RSMo, by adding a new subsection 7 specifically applicable to hospitals owned by political corporations or subdivisions of Missouri
Legislative Description
Allows a hospital owned by a political corporation or subdivision to request a refund of accumulated funds under certain circumstances
Last Action
Referred: Health and Mental Health Policy(H)
5/15/2015