Bill Text: MO HB954 | 2011 | Regular Session | Introduced
Bill Title: Specifies that a full-time employee of the Missouri Development Finance Board will be a state employee and a member of the Missouri State Employees' Retirement System
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2011-04-12 - Referred: Retirement (H) [HB954 Detail]
Download: Missouri-2011-HB954-Introduced.html
FIRST REGULAR SESSION
96TH GENERAL ASSEMBLY
INTRODUCED BY REPRESENTATIVE FRANZ.
2096L.01I D. ADAM CRUMBLISS, Chief Clerk
AN ACT
To repeal section 103.079, RSMo, and to enact in lieu thereof two new sections relating to certain benefits for the Missouri development finance board.
Be it enacted by the General Assembly of the state of Missouri, as follows:
Section A. Sections 103.079, RSMo, is repealed and two new sections enacted in lieu thereof, to be known as sections 100.274 and 103.079, to read as follows:
100.274. 1. Any person employed by the Missouri development finance board on or after September 1, 2011, in a full-time position shall be both a state employee and a member of the Missouri state employees' retirement system, except that such state employee shall not have coverage under the Missouri consolidated health care plan unless such coverage is requested by the Missouri development finance board and approved by the board of trustees of the Missouri consolidated health care plan.
2. Employees described in subsection 1 of this section shall not purchase and receive creditable or credited service in the Missouri state employees' retirement system for prior full-time service with the Missouri development finance board except as provided in this subsection. Such employees shall be permitted to purchase all or a portion of their creditable or credited service in the Missouri state employees' retirement system up to the actual years of prior full-time service with the Missouri development finance board. The cost of the full amount of such creditable or credited service allowed shall be an amount determined to equal the actuarial accrued liability at the time of the purchase to the extent the system's actuarial accrued liability was funded as of the most recent actuarial valuation. If an employee pays less than the full amount so determined, the creditable or credited service granted shall be prorated accordingly. Employees may purchase and receive such creditable or credited service at any time on or after September 1, 2011, but before applying for retirement, and may do so notwithstanding any vesting requirement to the contrary. Any employee who purchases such creditable or credited service and subsequently terminates employment prior to becoming vested in the system may, upon proper application, receive a refund equal to the purchase amount.
103.079. The health care programs sponsored by the departments of transportation and conservation and the Missouri development finance board shall become a part of this plan only upon request to and acceptance by the board of trustees by the highways and transportation commission [or] , the conservation commission, the Missouri development finance board and any such transfer into this plan shall be deemed reviewable by such department or the Missouri development finance board every three years. Such department or the Missouri development finance board may withdraw from the plan upon approval by such department's commission or the Missouri development finance board and by providing the board a minimum of six months' notice prior to the end of the then current plan year and termination of coverage will become effective at the end of the then current plan year. For any of the foregoing state agencies choosing to participate, the plan shall not assume responsibility for any liabilities incurred by the agency or its eligible employees, retirees, or dependents prior to its effective date.
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