SB 1557 - Currently, a vested former member or a former member who is not vested may request a refund of his or her contributions and interest from the Missouri State Employees' Retirement System (MOSERS) or the Missouri Department of Transportation and Highway Patrol Retirement System (MPERS). This act provides that for a former member who is not vested, the system shall refund such member's contributions and interest credited thereon if the total amount is $1,000 or less, or such other amount as may be permitted under federal law, provided that:

(1) The relevant system's procedures try to locate such member from time to time and after the application of such procedures such refund is returned to the system, the refund shall be considered abandoned property; and

(2) Provisions regarding the payment of contributions from a system's fund following the reversion of accumulated contributions standing to a member's credit that are unclaimed by such member for a period of four years or more to the system's fund shall not apply to these refunds.

This act is identical to a provision in SB 1054 (2026).

KATIE O'BRIEN

Statutes affected:
Introduced (6554S.01): 104.1091