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SB1559 • 2026

Modifies provisions relating to deferred compensation for state employees

Modifies provisions relating to deferred compensation for state employees

Elections Labor
Passed Legislature

This bill passed both chambers and reached final enrollment, even if later executive action is not shown here.

Sponsor
Henderson, Mike; House handler: N/A
Last action
2026-02-05
Official status
Second Read and Referred S Local Government, Elections and Pensions Committee
Effective date
2026-08-28

Plain English Breakdown

The plain English breakdown is still being put together. The official documents below are already here.

Bill History

  1. 2026-02-05 S309

    Second Read and Referred S Local Government, Elections and Pensions Committee

  2. 2026-01-14 S173

    S First Read

Official Summary Text

The following summaries of this bill are available:

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Introduced

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SB 1559 - This act provides that the election to defer compensation by the employees of the state of Missouri shall be made at the beginning of the payroll period, rather than the month, for which the compensation is paid and contributions shall begin on the pay period beginning after such election.

Beginning July 1, 2027, this act provides that the deferred compensation plan shall provide for automatic increases for certain employees participating or eligible to participate in the deferred compensation plan. The increase shall commence with the first payroll period following the employee's one year anniversary date of employment or re-employment with the state, whichever is later. The deferral amount shall increase annually by .5% until the amount reaches 10% of compensation or the limitation imposed under federal law, whichever is less. Employees who are automatically increased may elect to change the contribution rate in accordance with the terms of the plan.

This act is identical to a provision in SB 1054 (2026).
KATIE O'BRIEN