SCS/SB 768 - Currently, member contributions for the Missouri Local Government Employees' Retirement System are 0% or 4% of compensation. This act allows each political subdivision to elect an alternative member contribution amount of 2% or 6% of compensation. If a political subdivision elected a benefit program for certain members covered concurrently by Social Security and another for those members not covered concurrently by Social Security, the political subdivision may also elect one member contribution for those members who are covered and another contribution amount for those members who are not covered.

This act is substantially similar to provisions in the truly agreed to and finally passed HCS/SCS/SB 599 (2020), in the truly agreed to and finally passed SS/SCS/HB 1467 & HB 1934 (2020), in HCS/SS/SCS/SB 594 (2020), and in HCS/SCS/SB 725 (2020).

KATIE O'BRIEN

Statutes affected:
Introduced (3340S.01): 70.705
Committee (3340S.02): 70.705

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Senate Committee Minutes:
SENATE COMMITTEE MINUTES Bill No.: SB 768
Sponsor: Onder
Hearing Date: 2/19/2020


COMMITTEE: Health and Pensions

CHAIRMAN: Onder

DATE REFERRED: 2/13/2020 DATE HEARING REQUESTED:



STAFF:
Sarah Haskins
Katie O'Brien
Theckla Spainhower


WITNESSES GIVING INFORMATION:
Mike Winter - MODOT and Patrol Employees Retirement System


WITNESSES FOR:
Elizabeth Althoff - Missouri Local Government Employees Retirement System
Patrick McKenna - Director of MODOT and ex-officio member of MODOT and Patrol Employees Retirement
System


WITNESSES AGAINST: