SB 230 - This bill makes various changes to the Missouri State Emmployers' Retirement System (MOSERS) statutory provisions.

The maximum allowable purchase of optional life insurance is increased from 3 to 6 times the member's annual compensation.

This act adds definitions of "biennial assembly" and "full biennial assembly", changes definitions for federal compliance and defines the retirement age for term-vested members of the water patrol.

The accrual of service is allowed in the event of disability.

The surviving spouse of a member may name a beneficiary for final payment of benefits. If a beneficiary or spouse is charged with the intentional killing of a member, payments cease and the beneficiary shall no longer be entitled to benefits upon conviction. In cases of divorce, this act requires the benefit to be calculated from the date of dissolution instead of the date of the order.

Lump sum payments may be made equivalent to the present value of the remaining payments to a beneficiary's estate under the 60- and 120-month options.

Unclaimed member contributions automatically revert to MOSERS after 4 years, but shall be paid upon application, without interest.

There are numerous other technical changes in this act.

MARGARET J. TOALSON