PUBLIC PLANS - 105.661, 105.666, 105.669, 105.683

Under current law, public retirement plans must provide plan participants, upon request, an annual pension benefit statement which includes certain information including the participant's contributions, total benefits accrued, and the date first eligible for a normal retirement benefit. Beginning on January 1, 2017, the act adds that additional information regarding the plan's financial details must also be included in the pension statement and states that each plan shall provide the annual statement to active participants regardless of whether the statement is requested. A plan failing to provide an annual pension statement to active participants must submit in writing to the Joint Committee on Public Employee Retirement the reasons for not complying with the law.

These provisions are identical to language contained in SS/SCS/SB 980 (2016).

Currently, if a member of a public retirement plan is found guilty of certain felonies committed in direct connection with the member's duties as an employee then such member shall not be eligible to receive any retirement benefits from the respective plan.

The act provides that a member of a public retirement plan who is "convicted", rather than "found guilty", of certain felony offenses is not eligible to receive retirement benefits. The act also repeals the provisions that provide that in such cases the court shall make a determination on the value of the money involved in committing the offense, and notify the appropriate retirement system. Instead, the employer of the member who is charged or convicted of the felony shall notify the appropriate retirement system.

This provision is similar to HCS/HB 752 (2015).

Under current law, a plan is deemed delinquent when the plan's funded ratio is below sixty percent, the plan has had a descending funded ratio for five years, and the political subdivision has failed to make the actuarially required contribution payment for five years. This act repeals the descending funded ratio requirement and provides that to be considered delinquent a plan's funded ratio must fall below seventy percent and the political subdivision must miss the actuarially required contribution payment for two years, rather than five years.

This provision is identical to a provision contained in SS/SCS/SB 980 (2016).

JUDICIAL RETIREMENT PLAN 2011 - 476.521

This act provides that a person who filed as a candidate in 2010 to become a judge, and whose term began in 2011 is exempt from the provisions of the Judicial Retirement Plan 2011.

JESSI BAKER

SA 1 - EXEMPTS THE COUNTY EMPLOYEES' RETIREMENT SYSTEM (CERF) FROM THE PUBLIC PLAN DELINQUENCY PROVISIONS

SA 2 - ALLOWS POLITICAL SUBDIVISIONS TO ASSIGN OPERATION OF A RETIREMENT PLAN TO THE MISSOURI LOCAL GOVERNMENT EMPLOYEES' RETIREMENT SYSTEM

SA 3 - CHANGES THE EMPLOYER CONTRIBUTION FOR THE COLLEGE AND UNIVERSITY RETIREMENT PLAN AND REQUIRES EMPLOYEES TO CONTRIBUTE TO THE PLAN

SA 4 - ALLOWS RETIRED MEMBERS OF MOSERS AND MPERS WHO ARE REHIRED AND REIMBURSE THE SYSTEM FOR BENEFITS RECEIVED TO RECALCULATE CREDIBLE SERVICE