SCS/HCS/HB 356 - This act makes numerous modifications to MOSERS retirement law.

SECTION 104.010. DEFINITIONS. Modifies definitions of "average compensation" to include a provision in the event a member is on military leave, as well as "military service" to include National Guard training and duty, and modifies "normal retirement age". Defines "biennial assembly" and "full biennial assembly".

SECTION 104.103. NEW COLA PROVISION. Currently, the old cap for COLAs is 65% of the initial benefit. Under this act, a new COLA takes over when the 65% cap is reached.

SECTION 104.312. DIVORCE. Changes "order" to "dissolution of marriage".

SECTION 104.335. LUMP SUM, ETC. Adds provision to allow ALJs, legal advisors and judges to choose the lump sum option. Adds special consultant language for transfer of creditable service.

SECTION 104.340. MILITARY SERVICE. Modifies military service reference (specifies branches of service instead of "armed forces"). Adds special consultant language.

SECTION 104.342. SOCIAL SECURITY. Modifies language concerning annuities for positions not covered by the federal Social Security Act.

SECTION 104.350. FORFEITED SERVICE. Removes date for restoration of forfeited service.

SECTION 104.371. GENERAL ASSEMBLY. Special consultant language for additional service credit election.

SECTION 104.372. CHILDREN, SPOUSES OF GENERAL ASSEMBLY. Changes "unemancipated" to "under 21". Adds special consultant language for surviving spouse.

SECTION 104.374. MOVES DEPARTMENT OF CONSERVATION 50% SURVIVOR ELECTION PROVISION TO SECTION 104.395).

SECTION 104.395. RETIREMENT OPTIONS. Allows unreduced, normal annuity with a 50% survivor option. Allows modified reduction for the 100% survivor reduction, equivalent to the 50% reduction. Specifies payment of remaining payments under the 120- and 60-month options to the beneficiary's estate (currently to the member's estate).

SECTION 104.401. DESIGNATE BENEFICIARY. Requires the member to designate a beneficiary to receive any final payment due if no survivor annuity is payable.

SECTION 104.410. UNIFORMED WATER PATROL MEMBERS. Allows disabled members and persons (judges, ALJs and legal advisors) to continue their life insurance coverage.

SECTION 104.415. NEW COLA PROVISIONS. Currently, the old cap for COLAs is 65% of the initial benefit. Under this act, a new COLA takes over when the 65% cap is reached.

SECTION 104.420. DISABLED MEMBER'S CHILD. Allows any payments made on behalf of a disabled member's surviving children to be paid directly to the child from ages 18 to 21.

SECTION 104.470. BOARD OF TRUSTEES. Specifies when a trustee may be excused from attending meetings.

SECTION 104.490. NO BENEFITS TO KILLER OF THE MEMBER.

SECTION 104.515. HEALTH INSURANCE AND DISABLED FORMER EMPLOYEES. Adds special consultant language for former employees receiving disability income benefits from MOSERS or Highways to receive medical benefits coverage contribution, pursuant to appropriations.

SECTION 104.517. ALLOWS PERSONS TO PURCHASE LIFE INSURANCE FOR CHILDREN AND SPOUSE, if monthly voluntary payroll deductions are authorized.

SECTION 104.519. RULES ESTABLISHED FOR INSURANCE AND DISABILITY BENEFITS. Removes provision excepting the provisions of sections 104.516 & 104.517 (life insurance) from persons employed in agencies who pay any part of their medical benefits.

SECTION 104.530. LAWSUITS--SERVICE OF PROCESS AGAINST MOSERS. Allows service to be made on the executive director's designee, in the absence of the executive director.

SECTION 104.602. CREDITABLE SERVICE IN EITHER MOSERS OR HIGHWAYS. Allows survivor to make the election in either system which provides the most advantageous benefit.

SECTION 104.612. NEW COLA PROVISIONS AND UNREDUCED 50% & MODIFIED REDUCED 100% SURVIVOR OPTION. Special consultant language and extends the new COLAs to survivors of members, ALJs, legal advisors and judges. Also contains special consultant language for the 100% and 50% option provisions in section 104.395.

SECTION 104.620. UNCLAIMED CONTRIBUTIONS revert to MOSERS after 4 years, with payment without interest upon application.

SECTION 104.800. SPECIAL CONSULTANT LANGUAGE FOR ONE-TIME TRANSFER OF CREDITABLE SERVICE.

SECTION 105.691. TECHNICAL MODIFICATIONS.

SECTION 287.812. REMOVES "UNEMANCIPATED" LANGUAGE.

SECTION 287.820. NEW COLA PROVISIONS. Currently, the old cap for COLAs is 65% of the initial benefit. Under this act, a new COLA takes over when the 65% cap is reached.

SECTION 287.835. NO BENEFITS TO KILLER OF ALJ OR LEGAL ADVISOR.

SECTION 287.845. ANNUITY CALCULATION FOR ALJs AND LEGAL ADVISORS based on law in existence at time of termination of employment.

SECTION 287.856. MILITARY SERVICE. Modifies military service reference (specifies branches of service instead of "armed forces").

SECTIONS 476.450, 476.539 & 476.580. CONTRIBUTIONS FOR JUDGES' RETIREMENT. Beginning July 1, 1998, the current duties of paying judicial retirement contributions from General Revenue are transferred over to the Commissioner of Administration, the State Treasurer and the Executive Director of MOSERS, under the same principles as is done in the general MOSERS system, but under a separate account.

SECTION 476.480. NO BENEFITS TO KILLER OF A JUDGE.

SECTION 476.515. REMOVES "UNEMANCIPATED" CHILD LANGUAGE.

SECTION 476.520. SPECIAL CONSULTANT LANGUAGE FOR JUDGES.

SECTION 476.524. MILITARY SERVICE. Modifies military service reference (specifies branches of service instead of "armed forces").

SECTION 476.530. JUDICIAL RETIREMENT LANGUAGE. Provides that retirement compensation is equal to 50% of the compensation in effect at the time of the judge's termination of employment in the highest judicial position the judge held.

SECTION 476.595. SPECIAL COMMISSIONERS. Adds beneficiary provisions.

SECTION 476.601. NEW COLA PROVISIONS. Currently, the old cap for COLAs is 65% of the initial benefit. Under this act, a new COLA takes over when the 65% cap is reached.

SECTION 476.690. JUDGES WHO OPT NOT TO RETIRE GET THE OLD COLA ADDED INTO RETIREMENT INCOME (UP TO 65%).

MARGARET J. TOALSON