Bill Text: MO HB1039 | 2012 | Regular Session | Enrolled
Bill Title: Allows a retiree of the Missouri Local Government Employees' Retirement System to have his or her health insurance or long-term care insurance premium deducted from his or her retirement allowance [Track Bill]
Status: 2012-06-18 - Delivered to Secretary of State (G) [HB1039 Detail]
SECOND REGULAR SESSION
[TRULY AGREED TO AND FINALLY PASSED]
96TH GENERAL ASSEMBLY
To repeal section 70.695, RSMo, and to enact in lieu thereof one new section relating to the Missouri local government employees' retirement system.
Be it enacted by the General Assembly of the state of Missouri, as follows:
Section A. Section 70.695, RSMo, is repealed and one new section enacted in lieu thereof, to be known as section 70.695, to read as follows:
70.695. The right of a person to an allowance, to the return of accumulated contributions, the allowance itself, any allowance option, and any other right accrued or accruing under the provisions of sections 70.600 to 70.755, and all moneys belonging to the system shall not be subject to execution, garnishment, attachment, the operation of bankruptcy or insolvency laws, or to any other process of law whatsoever, and shall be unassignable, except as is specifically provided in sections 70.600 to 70.755; except that:
(1) Any political subdivision shall have the right of setoff for any claim arising from embezzlement by or fraud of a member, retirant, or beneficiary; [and]
(2) Such rights shall not be exempt from attachment or execution in a proceeding instituted for the support and maintenance of children. In all such actions described in this subdivision, the system shall be entitled to collect a fee of up to twenty dollars chargeable against the person for each delinquent attachment, execution, sequestration or garnishment payment; and
(3) A retirant may authorize the board to have deducted from his or her allowance the payments required of him or her to provide for health insurance or long-term care insurance premiums in accordance with Section 402 of the Internal Revenue Code of 1986, as amended.