SB 362 - This act revises provisions in the Missouri State Employees' Retirement System (MOSERS), as it pertains to state employees, members of the general assembly, judges and administrative law judges.

The maximum for optional life insurance is increased to six times the annual compensation and spouse and dependent coverage is added.

This act makes various technical changes to correct errors and clarify language, including the addition of missing special consultant language.

Accrual of service would be allowed in the event of disability.

In cases of divorce, benefits would be calculated from the date of dissolution instead of from the date of the order.

This act allows lump sum payments equivalent to the present value of the remaining payments to a beneficiary's estate under the sixty- and one-hundred-twenty-month options.

This act also extends the one-time lump sum provision to judges and administrative law judges with less than ten years service under certain circumstances.

A surviving spouse may name a beneficiary for final payment of the benefit.

This act would prohibit the payment of benefits to anyone charged with the intentional killing of a member, however, such benefits would resume if the person is not convicted.

This act is nearly identical to HB 543.
MARGARET TOALSON