SCS/SB 768 - Currently, member contributions for the Missouri Local Government Employees' Retirement System are 0% or 4% of compensation. This act allows each political subdivision to elect an alternative member contribution amount of 2% or 6% of compensation. If a political subdivision elected a benefit program for certain members covered concurrently by Social Security and another for those members not covered concurrently by Social Security, the political subdivision may also elect one member contribution for those members who are covered and another contribution amount for those members who are not covered. This act is substantially similar to provisions in the truly agreed to and finally passed HCS/SCS/SB 599 (2020), in the truly agreed to and finally passed SS/SCS/HB 1467 & HB 1934 (2020), in HCS/SS/SCS/SB 594 (2020), and in HCS/SCS/SB 725 (2020).
KATIE O'BRIEN