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MO SB404
Bill
AI Summary
- Amends Missouri's employment security law (sections 288.036 and 288.060) to add "termination pay" and "severance pay" to the types of compensation explicitly treated as wages for unemployment purposes
- Termination pay and severance pay would be considered wages for the specific week in which they are payable, alongside vacation pay and holiday pay
- Removes termination pay and severance pay from the list of payments excluded when calculating partial unemployment benefits
- Allows claimants receiving termination or severance pay in their base period to choose whether to count it in the quarter paid or prorate it equally across all base period quarters
- Maintains existing exclusions from wages including workers' compensation payments, certain disability/medical payments, qualified retirement plan distributions, and cafeteria plan payments
Legislative Description
Modifies the definition of wages under the employment security law
Last Action
Second Read and Referred S Small Business, Insurance and Industry Committee
2/24/2015
Committee Referrals
Small Business, Insurance And Industry2/24/2015
Full Bill Text
No bill text available