SB 77 - Currently, the Missouri State Employees' Retirement System ("MOSERS") and, under the Year 2000 Plan, the Missouri Department of Transportation and Highway Patrol Employees' Retirement System ("MPERS"), shall use the entry age normal cost valuation method for normal cost calculations and shall use the level percent-of-payroll amortization for determinations of contributions for unfunded accrued liabilities. This act repeals the use of the level percent-of-payroll and provides only for the entry age normal cost valuation method to be used in determining the normal cost calculation. This act is identical to provisions in the truly agreed to and finally passed CCS/SB 20 (2023), in the truly agreed to and finally passed HCS/SS/SB 75 (2023), in the perfected HCS/HB 155 (2023), in SB 407 (2023), in SCS/HCS/HB 934 (2023), in HB 1185 (2023), in HB 2234 (2022), in HCS/HB 2799 (2022), HCB 1 (2021), in HB 701 (2021), in SB 901 (2020), and in HCS/HB 1999 (2020).
KATIE O'BRIEN