MO SB1557

Amends Missouri State Employees' Retirement System (MOSERS) Year 2000 Plan provisions for members hired on or after January 1, 2011, including normal retirement eligibility at age 67 with 10 years of service, or age 55 when age plus service equals 90

Requires automatic refund of contributions ($1,000 or less) to non-vested former members, authorizing information sharing between the retirement system and state treasurer to locate former members, survivors, or beneficiaries

Prohibits vested former members from requesting contribution refunds after becoming eligible for normal retirement

Establishes automatic enrollment increases for the state deferred compensation plan effective July 1, 2027, with deferrals increasing by 0.5% annually starting at the employee's one-year anniversary until reaching 10% of eligible compensation

Applies automatic deferral increases to employees hired or rehired on or after July 1, 2012 who were auto-enrolled and contributing 1%, as well as all employees hired on or after July 1, 2027