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EXPLANATION-Matter enclosed in bold-faced brackets [thus] in this bill is not enacted
and is intended to be omitted in the law.
SECOND REGULAR SESSION
[TRULY AGREED TO AND FINALLY PASSED]
HOUSE COMMITTEE SUBSTITUTE FOR
SENATE BILL NO. 1572
103RD GENERAL ASSEMBLY
2026
6641H.02T
AN ACT
To repeal sections 84.570, 86.213, 104.200, 104.490, 104.1060, 104.1091, 104.1092, and 169.450,
RSMo, and to enact in lieu thereof nine new sections relating to public employee
retirement systems.
Be it enacted by the General Assembly of the State of Missouri, as follows:
Section A. Sections 84.570, 86.213, 104.200, 104.490, 1
104.1060, 104.1091, 104.1092, and 169.450, RSMo, are repealed 2
and nine new sections enacted in lieu thereof, to be known as 3
sections 84.570, 86.213, 104.200, 104.490, 104.1060, 104.1091, 4
104.1092, 105.695, and 169.450, to read as follows:5
84.570. 1. No person shall be appointed policeman or 1
officer of police who shall have been convicted of any 2
offense, the punishment of which may be confinement in the 3
state penitentiary; nor shall any person be appointed who is 4
not proven to be of good character, or who is not proven to 5
be a bona fide citizen of the United States, or who cannot 6
read and write the English language and who does not possess 7
ordinary physical strength and courage, nor shall any person 8
be originally appointed to said police force who is less 9
than twenty-one years of age. Notwithstanding any other 10
provision of law, the board shall have the sole authority to 11
determine conditions of employment for police officers 12
pursuant to section 84.460. 13
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2. In the interest of efficiency and public safety, 14
law enforcement officers, as such term is defined in 29 15
U.S.C. Section 630 or any successor statute, shall be 16
separated from service on the last day of the month in which 17
the employee becomes sixty-five years of age or reaches 18
thirty-five years of creditable service, as such term is 19
defined in subdivision (8) of section 86.900, whichever 20
occurs [later] first. 21
3. The board shall from time to time require open 22
competitive examinations or tests for determining the 23
qualifications and fitness of all applicants for appointment 24
to positions on the police force. Such examinations and 25
tests shall be practical and shall relate to matters which 26
fairly measure the relative fitness of the candidates to 27
discharge the duties of the positions to which they seek to 28
be appointed. Notice of such examinations and tests shall 29
be given not less than ten days in advance thereof by public 30
advertisement in at least one newspaper of general 31
circulation in such city, and by posting notice in the 32
police headquarters building. A list of those qualifying in 33
such examinations shall be established, listing those 34
qualified in order of rank. When an appointment is to be 35
made, the appointment shall be made from such eligible list. 36
4. The board shall also establish rules for: 37
(1) Temporary employment for not exceeding sixty days 38
in the absence of any eligible list; 39
(2) Hours of work of police employees and officers 40
subject to the provisions of section 84.510; and 41
(3) Attendance regulations and leaves of absence. 42
86.213. 1. The general administration and the 1
responsibility for the proper operation of the retirement 2
system and for making effective the provisions of sections 3
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86.200 to 86.366 are hereby vested in a board of trustees of 4
nine persons. The board shall be constituted as follows: 5
(1) The comptroller of the city, ex officio. If the 6
comptroller is absent from any meeting of the board of 7
trustees for any cause whatsoever, the comptroller may be 8
represented by either the deputy comptroller or the first 9
assistant comptroller who in such case shall have full power 10
to act as a member of the said board of trustees; 11
(2) Two members to be appointed by the mayor of the 12
city, provided that, effective October 1, 2026, the mayor 13
shall appoint one member to serve a term of one year and one 14
member to serve a term of two years and thereafter, each 15
appointee to serve for a term of two years, except the mayor 16
shall not appoint the police chief of the municipal police 17
force or the city's director of public safety; 18
(3) Three members who are actively commissioned 19
officers of the municipal police force of any city not 20
within a county to be elected by [the] those members of the 21
retirement system who are actively commissioned officers of 22
the municipal police force of [the] any city not within a 23
county for a term of three years; provided, however, that 24
the term of office of the first three members so elected 25
shall begin immediately upon their election and one such 26
member's term shall expire one year from the date the 27
retirement system becomes operative, another such member's 28
term shall expire two years from the date the retirement 29
system becomes operative and the other such member's term 30
shall expire three years from the date the retirement system 31
becomes operative; provided, further, that such members 32
shall be members of the system and hold office only while 33
members of the system; 34
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(4) Three members who shall be retired members of the 35
retirement system to be elected by [the] those retired 36
members of the retirement system for a term of three years; 37
except that, the term of office of the first two members so 38
elected shall begin immediately upon their election and one 39
such member's term shall expire two years from the date of 40
election and the other such member's term shall expire three 41
years from the date of election. 42
2. Any member elected chairman of the board of 43
trustees may serve without term limitations. 44
3. Each actively commissioned elected trustee shall be 45
granted travel time by the St. Louis metropolitan police 46
department to attend any and all functions that have been 47
authorized by the board of trustees of the police retirement 48
system of St. Louis. Travel time, with compensation, for a 49
trustee shall not exceed thirty days in any board fiscal 50
year. 51
4. Members appointed by the mayor of the city pursuant 52
to subdivision (2) of subsection 1 of this section shall 53
continue to serve until their successors have been appointed. 54
104.200. Should any error in any records result in any 1
member or beneficiary receiving more or less than he or she 2
would have been entitled to receive had the records been 3
correct, the board shall correct such error, and, as far as 4
practicable, to recover any overpayments, may accept single 5
sum or installment repayments or make future payments in 6
such a manner that the actuarial equivalent of the benefit 7
to which such member or beneficiary was entitled shall be 8
paid[, and to this end may recover any overpayments]. In 9
all cases in which such error has been made, no such error 10
shall be corrected unless the system discovers or is 11
notified of such error within ten years after the member's 12
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annuity starting date or the date of error, whichever occurs 13
later. In cases of fraud, any error discovered shall be 14
corrected without concern for the amount of time that has 15
passed. 16
104.490. 1. Should any error result in any member or 1
beneficiary receiving more or less than he or she would have 2
been entitled to receive had the error not occurred, the 3
board shall correct such error, and, as far as practicable, 4
to recover any overpayments, may accept single sum or 5
installment repayments or make future payments in such a 6
manner that the actuarial equivalent of the benefit to which 7
such member or beneficiary was entitled shall be paid[, and 8
to this end may recover any overpayments]. In all cases in 9
which such error has been made, no such error shall be 10
corrected unless the system discovers or is notified of such 11
error within ten years after the member's annuity starting 12
date or the date of error, whichever occurs later. In cases 13
of fraud, any error discovered shall be corrected without 14
concern to the amount of time that has passed. 15
2. A person who knowingly makes a false statement, or 16
falsifies or permits to be falsified a record of the system, 17
in an attempt to defraud the system is subject to fine or 18
imprisonment pursuant to the Missouri revised statutes. 19
3. The board of trustees of the Missouri state 20
employees' retirement system shall cease paying benefits to 21
any survivor or beneficiary who is charged with the 22
intentional killing of a member without legal excuse or 23
justification. A survivor or beneficiary who is convicted 24
of such charge shall no longer be entitled to receive 25
benefits. If the survivor or beneficiary is not convicted 26
of such charge, the board shall resume payment of benefits 27
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and shall pay the survivor or beneficiary any benefits that 28
were suspended pending resolution of such charge. 29
104.1060. 1. Should any error result in any person 1
receiving more or less than the person would have been 2
entitled to receive had the error not occurred, the board 3
shall correct such error, and, as far as practicable, to 4
recover any overpayments, may accept single sum or 5
installment repayments or make future payments in such a 6
manner that the actuarial equivalent of the annuity to which 7
such person was entitled shall be paid[, and to this end may 8
recover any overpayments]. In all cases in which such error 9
has been made, no such error shall be corrected unless the 10
system discovers or is notified of such error within ten 11
years after the member's annuity starting date or the date 12
of error, whichever occurs later. In cases of fraud, any 13
error discovered shall be corrected without concern to the 14
amount of time that has passed. 15
2. A person who knowingly makes a false statement, or 16
falsifies or permits to be falsified a record of the system, 17
in an attempt to defraud the system shall be subject to fine 18
or imprisonment under the Missouri revised statutes. 19
3. A board shall not pay an annuity to any survivor or 20
beneficiary who is charged with the intentional killing of a 21
member, retiree or survivor without legal excuse or 22
justification. A survivor or beneficiary who is convicted 23
of such charge shall no longer be entitled to receive an 24
annuity. If the survivor or beneficiary is not convicted of 25
such charge, the board shall resume annuity payments and 26
shall pay the survivor or beneficiary any annuity payments 27
that were suspended pending resolution of such charge. 28
104.1091. 1. Notwithstanding any provision of the 1
year 2000 plan to the contrary, each person who first 2
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becomes an employee on or after January 1, 2011, shall be a 3
member of the year 2000 plan subject to the provisions of 4
this section. 5
2. A member's normal retirement eligibility shall be 6
as follows: 7
(1) The member's attainment of at least age sixty- 8
seven and the completion of at least ten years of credited 9
service; or the member's attainment of at least age fifty- 10
five with the sum of the member's age and credited service 11
equaling at least ninety; or, in the case of a member who is 12
serving as a uniformed member of the highway patrol and 13
subject to the mandatory retirement provisions of section 14
104.081, such member's attainment of at least age sixty or 15
the attainment of at least age fifty-five with ten years of 16
credited service; 17
(2) For members of the general assembly, the member's 18
attainment of at least age sixty-two and the completion of 19
at least three full biennial assemblies; or the member's 20
attainment of at least age fifty-five with the sum of the 21
member's age and credited service equaling at least ninety; 22
(3) For statewide elected officials, the official's 23
attainment of at least age sixty-two and the completion of 24
at least four years of credited service; or the official's 25
attainment of at least age fifty-five with the sum of the 26
official's age and credited service equaling at least ninety. 27
3. A vested former member's normal retirement 28
eligibility shall be based on the attainment of at least age 29
sixty-seven and the completion of at least ten years of 30
credited service. 31
4. A temporary annuity paid pursuant to subsection 4 32
of section 104.1024 shall be payable if the member has 33
attained at least age fifty-five with the sum of the 34
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member's age and credited service equaling at least ninety; 35
or in the case of a member who is serving as a uniformed 36
member of the highway patrol and subject to the mandatory 37
retirement provisions of section 104.081, the temporary 38
annuity shall be payable if the member has attained at least 39
age sixty, or at least age fifty-five with ten years of 40
credited service. 41
5. A member, other than a member who is serving as a 42
uniformed member of the highway patrol and subject to the 43
mandatory retirement provisions of section 104.081, shall be 44
eligible for an early retirement annuity upon the attainment 45
of at least age sixty-two and the completion of at least ten 46
years of credited service. A vested former member who 47
terminated employment prior to the attainment of early 48
retirement eligibility shall not be eligible for early 49
retirement. 50
6. The provisions of subsection 6 of section 104.1021 51
and section 104.344 as applied pursuant to subsection 7 of 52
section 104.1021 and section 104.1090 shall not apply to 53
members covered by this section. 54
7. The minimum credited service requirements of five 55
years contained in sections 104.1018, 104.1030, 104.1036, 56
and 104.1051 shall be ten years for members covered by this 57
section. The normal and early retirement eligibility 58
requirements in this section shall apply for purposes of 59
administering section 104.1087. 60
8. A member shall be required to contribute four 61
percent of the member's pay to the retirement system, which 62
shall stand to the member's credit in his or her individual 63
account with the system, together with investment credits 64
thereon, for purposes of funding retirement benefits payable 65
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under the year 2000 plan, subject to the following 66
provisions: 67
(1) The state of Missouri employer, pursuant to the 68
provisions of 26 U.S.C. Section 414(h)(2), shall pick up and 69
pay the contributions that would otherwise be payable by the 70
member under this section. The contributions so picked up 71
shall be treated as employer contributions for purposes of 72
determining the member's pay that is includable in the 73
member's gross income for federal income tax purposes; 74
(2) Member contributions picked up by the employer 75
shall be paid from the same source of funds used for the 76
payment of pay to a member. A deduction shall be made from 77
each member's pay equal to the amount of the member's 78
contributions picked up by the employer. This deduction, 79
however, shall not reduce the member's pay for purposes of 80
computing benefits under the retirement system pursuant to 81
this chapter; 82
(3) Member contributions so picked up shall be 83
credited to a separate account within the member's 84
individual account so that the amounts contributed pursuant 85
to this section may be distinguished from the amounts 86
contributed on an after-tax basis; 87
(4) The contributions, although designated as employee 88
contributions, shall be paid by the employer in lieu of the 89
contributions by the member. The member shall not have the 90
option of choosing to receive the contributed amounts 91
directly instead of having them paid by the employer to the 92
retirement system; 93
(5) Interest shall be credited annually on June 94
thirtieth based on the value in the account as of July first 95
of the immediately preceding year at a rate of four 96
percent. Effective June 30, 2014, and each June thirtieth 97
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thereafter, the interest crediting rate shall be equal to 98
the investment rate that is published by the United States 99
Department of the Treasury, or its successor agency, for 100
fifty-two week treasury bills for the relevant auction that 101
is nearest to the preceding July first, or a successor 102
treasury bill investment rate as approved by the board if 103
the fifty-two week treasury bill is no longer issued. 104
Interest credits shall cease upon termination of employment 105
if the member is not a vested former member. Otherwise, 106
interest credits shall cease upon retirement or death; 107
(6) (a) A vested former member or a former member who 108
is not vested may request a refund of his or her 109
contributions and interest credited thereon. If such member 110
is married at the time of such request, such request shall 111
not be processed without consent from the spouse. Such 112
member is not eligible to request a refund if such member's 113
retirement benefit is subject to a division of benefit order 114
pursuant to section 104.1051. [Such refund] 115
(b) For a former member who is not vested, the system 116
shall refund the former member's contributions and interest 117
credited thereon if the total amount thereof is one thousand 118
dollars or less, or such other amount as may be permitted 119
under applicable federal law. 120
a. The system and the treasurer are authorized to 121
share information consistent with section 447.560 for 122
purposes of the system's refunding such former member's 123
contributions and credited interest directly to the former 124
member or the former member's survivor or beneficiary. 125
b. The availability of the shared information for the 126
public inspection shall be consistent with section 447.560. 127
c. The system's procedures in effect from time to time 128
to locate such former member, survivor, or beneficiary shall 129
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be considered reasonable and necessary diligence consistent 130
with good business practice and in compliance with federal 131
law. 132
(c) Contribution refunds shall be paid by the system 133
within an administratively reasonable period, but no sooner 134
than ninety days from the date of termination of 135
employment. The amount refunded shall include all employee 136
contributions made to any retirement plan administered by 137
the system and interest credited thereon. 138
(d) A vested former member may not request a refund 139
after such member becomes eligible for normal retirement. 140
(e) A vested former member or a former member who is 141
not vested who receives a refund shall forfeit all the 142
member's credited service and future rights to receive 143
benefits from the system and shall not be eligible to 144
receive any disability benefits; provided that any member or 145
vested former member receiving disability benefits shall not 146
be eligible for a refund. If such member subsequently 147
becomes an employee and works continuously for at least one 148
year, the credited service previously forfeited shall be 149
restored if the member returns to the system the amount 150
previously refunded plus interest at a rate established by 151
the board; 152
(7) The beneficiary of any member who made 153
contributions shall receive a refund upon the member's death 154
equal to the amount, if any, of such contributions and 155
interest credited thereon less any retirement benefits 156
received by the member unless an annuity is payable to a 157
survivor or beneficiary as a result of the member's death. 158
In that event, the beneficiary of the survivor or 159
beneficiary who received the annuity shall receive a refund 160
upon the survivor's or beneficiary's death equal to the 161
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amount, if any, of the member's contributions less any 162
annuity amounts received by the member and the survivor or 163
beneficiary. 164
9. The employee contribution rate, the benefits 165
provided under the year 2000 plan to members covered under 166
this section, and any other provision of the year 2000 plan 167
with regard to members covered under this section may be 168
altered, amended, increased, decreased, or repealed, but 169
only with respect to services rendered by the member after 170
the effective date of such alteration, amendment, increase, 171
decrease, or repeal, or, with respect to interest credits, 172
for periods of time after the effective date of such 173
alteration, amendment, increase, decrease, or repeal. 174
10. For purposes of members covered by this section, 175
the options under section 104.1027 shall be as follows: 176
Option 1. 177
A retiree's life annuity shall be reduced to a 178
certain percent of the annuity otherwise 179
payable. Such percent shall be eighty-eight and 180
one half percent adjusted as follows: if the 181
retiree's age on the annuity starting date is 182
younger than sixty-seven years, an increase of 183
three-tenths of one percent for each year the 184
retiree's age is younger than age sixty-seven 185
years; and if the beneficiary's age is younger 186
than the retiree's age on the annuity starting 187
date, a decrease of three-tenths of one percent 188
for each year of age difference; and if the 189
retiree's age is younger than the beneficiary's 190
age on the annuity starting date, an increase of 191
three-tenths of one percent for each year of age 192
difference; provided, after all adjustments the 193
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option 1 percent cannot exceed ninety-four and 194
one quarter percent. Upon the retiree's death, 195
fifty percent of the retiree's reduced annuity 196
shall be paid to such beneficiary who was the 197
retiree's spouse on the annuity starting date or 198
as otherwise provided by subsection 5 of this 199
section. 200
Option 2. 201
A retiree's life annuity shall be reduced to a 202
certain percent of the annuity otherwise 203
payable. Such percent shall be eighty-one 204
percent adjusted as follows: if the retiree's 205
age on the annuity starting date is younger than 206
sixty-seven years, an increase of four-tenths of 207
one percent for each year the retiree's age is 208
younger than sixty-seven years; and if the 209
beneficiary's age is younger than the retiree's 210
age on the annuity starting date, a decrease of 211
five-tenths of one percent for each year of age 212
difference; and if the retiree's age is younger 213
than the beneficiary's age on the annuity 214
starting date, an increase of five-tenths of one 215
percent for each year of age difference; 216
provided, after all adjustments the option 2 217
percent cannot exceed eighty-seven and three 218
quarter percent. Upon the retiree's death one 219
hundred percent of the retiree's reduced annuity 220
shall be paid to such beneficiary who was the 221
retiree's spouse on the annuity starting date or 222
as otherwise provided by subsection 5 of this 223
section. 224
Option 3. 225
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A retiree's life annuity shall be reduced to 226
ninety-three percent of the annuity otherwise 227
payable. If the retiree dies before having 228
received one hundred twenty monthly payments, 229
the reduced annuity shall be continued for the 230
remainder of the one hundred twenty-month period 231
to the retiree's designated beneficiary provided 232
that if there is no beneficiary surviving the 233
retiree, the present value of the remaining 234
annuity payments shall be paid as provided under 235
subsection 3 of section 104.620. If the 236
beneficiary survives the retiree but dies before 237
receiving the remainder of such one hundred 238
twenty monthly payments, the present value of 239
the remaining annuity payments shall be paid as 240
provided under subsection 3 of section 104.620. 241
Option 4. 242
A retiree's life annuity shall be reduced to 243
eighty-six percent of the annuity otherwise 244
payable. If the retiree dies before having 245
received one hundred eighty monthly payments, 246
the reduced annuity shall be continued for the 247
remainder of the one hundred eighty-month period 248
to the retiree's designated beneficiary provided 249
that if there is no beneficiary surviving the 250
retiree, the present value of the remaining 251
annuity payments shall be paid as provided under 252
subsection 3 of section 104.620. If the 253
beneficiary survives the retiree but dies before 254
receiving the remainder of such one hundred 255
eighty monthly payments, the present value of 256
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the remaining annuity payments shall be paid as 257
provided under subsection 3 of section 104.620. 258
11. The provisions of subsection 6 of section 104.1024 259
shall not apply to members covered by this section. 260
12. Effective January 1, 2018, a member who is not a 261
statewide elected official or a member of the general 262
assembly shall be eligible for retirement under this 263
subsection subject to the following conditions: 264
(1) A member's normal retirement eligibility shall be 265
based on the attainment of at least age sixty-seven and the 266
completion of at least five years of credited service; or 267
the member's attainment of at least age fifty-five with the 268
sum of the member's age and credited service equaling at 269
least ninety; or in the case of a member who is serving as a 270
uniformed member of the highway patrol and subject to the 271
mandatory retirement provisions of section 104.081, such 272
member's attainment of at least age sixty or the attainment 273
of at least age fifty-five with five years of credited 274
service; 275
(2) A vested former member's normal retirement 276
eligibility shall be based on the attainment of at least age 277
sixty-seven and the completion of at least five years of 278
credited service; except that, a vested former member who 279
terminates employment after the attainment of normal 280
retirement eligibility as described in subdivision (1) of 281
this subsection shall be covered under such subdivision; 282
(3) A temporary annuity paid under subsection 4 of 283
section 104.1024 shall be payable if the member has attained 284
at least age fifty-five with the sum of the member's age and 285
credited service equaling at least ninety; or in the case of 286
a member who is serving as a uniformed member of the highway 287
patrol and subject to the mandatory retirement provisions of 288
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section 104.081, the temporary annuity shall be payable if 289
the member has attained at least age sixty, or at least age 290
fifty-five with five years of credited service; 291
(4) A member, other than a member who is serving as a 292
uniformed member of the highway patrol and subject to the 293
mandatory retirement provisions of section 104.081, shall be 294
eligible for an early retirement annuity upon the attainment 295
of at least age sixty-two and the completion of at least 296
five years of credited service. A vested former member who 297
terminated employment prior to the attainment of early 298
retirement eligibility shall not be eligible for early 299
retirement; 300
(5) The normal and early retirement eligibility 301
requirements in this subsection shall apply for purposes of 302
administering section 104.1087; 303
(6) The survivor annuity payable under section 304
104.1030 for vested former members who terminated employment 305
prior to the attainment of early retirement eligibility and 306
who are covered by this section shall not be payable until 307
the deceased member would have reached his or her normal 308
retirement eligibility under this subsection; 309
(7) The annual cost-of-living adjustment payable under 310
section 104.1045 shall not commence until the second 311
anniversary of the annuity starting date for vested former 312
members who terminated employment prior to the attainment of 313
early retirement eligibility and who are covered by this 314
subsection; 315
(8) The unused sick leave credit granted under 316
subsection 2 of section 104.1021 shall not apply to members 317
covered by this subsection unless the member terminates 318
employment after reaching normal retirement eligibility or 319
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becoming eligible for an early retirement annuity under this 320
subsection; and 321
(9) The minimum credited service requirements of five 322
years contained in sections 104.1018, 104.1030, 104.1036, 323
and 104.1051 shall be five years for members covered by this 324
subsection. 325
104.1092. 1. In lieu of retirement annuity benefits 1
otherwise payable under the closed plan or year 2000 plan, 2
any member who has terminated employment, is entitled to a 3
deferred annuity, and has not yet reached normal retirement 4
age or eligibility may make a one-time election to receive a 5
lump sum payment equal to a percentage of the present value 6
of such member's deferred annuity should a board choose to 7
establish such a program by board rule pursuant to section 8
104.1063. 9
2. Any such election under subsection 1 of this 10
section may be made by the member beginning on [a date as 11
established by the board under such program but not] or 12
after [May 31, 2018. After May 31, 2018, no such election 13
shall be made and retirement annuity benefits shall only be 14
paid as otherwise provided by law under this chapter] 15
January 1, 2027. 16
3. Any such member making such election under 17
subsection 1 of this section shall forfeit all such member's 18
creditable or credited service and future rights to receive 19
retirement annuity benefits from the system under this 20
chapter and shall not be eligible to receive any long-term 21
disability benefits. If such member subsequently becomes an 22
employee, such member shall be considered a new employee 23
with no prior credited service and shall be subject to the 24
provisions of section 104.1091. 25
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105.695. 1. No contribution or expenditure of system 1
funds shall be made directly by any public pension system to 2
advocate, support, or oppose the passage or defeat of any 3
ballot measure or the nomination or election of any 4
candidate for public office. Nor shall any system funds pay 5
any debts or obligations of any committee supporting or 6
opposing such ballot measures or candidates. 7
2. Nothing in this section shall prohibit retirement 8
systems and their employees from educating and informing 9
members and the public about potential impacts to the system 10
through regular system programs, processes, and job duties. 11
3. For the purposes of this section, the term "system" 12
shall be defined as any retirement system established by the 13
state of Missouri or any political subdivision or 14
instrumentality of the state for the purpose of providing 15
plan benefits for elected or appointed public officials or 16
employees of the state of Missouri or any political 17
subdivision or instrumentality of the state. 18
169.450. 1. The general administration and 1
responsibility for the proper operation of the retirement 2
system and for making effective the provisions of sections 3
169.410 to 169.540 are hereby vested in a board of trustees 4
of thirteen persons, as follows: 5
(1) Four trustees to be appointed for terms of four 6
years by the board of education; provided, however, that 7
their terms shall be fixed so the terms of one of the 8
trustees so appointed shall expire each year. The members 9
of such board of trustees appointed by the board of 10
education may be members of the board of education or other 11
individuals deemed qualified to hold such positions by the 12
board of education; 13
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(2) Four trustees to be elected for terms of four 14
years by and from the active members of the retirement 15
system who shall hold office as trustees only while active 16
members; provided, however, that their terms shall be fixed 17
so that the terms of one of the trustees so elected shall 18
expire each year; and provided further, that not more than 19
two of such persons shall be teachers and two shall be 20
nonteachers. For the purposes of this subsection, a school 21
administrator shall not be eligible for the positions 22
established pursuant to this subdivision and shall be 23
eligible for the position established pursuant to 24
subdivision (4) of this subsection; 25
(3) Two trustees, who shall be retired members, to be 26
elected for terms of four years by and from the retired 27
members of the retirement system; provided, however, that 28
the terms of office of the first two trustees so elected 29
shall begin immediately upon their election and shall expire 30
two and four years from the date of their election, 31
respectively; and provided further, that not more than one 32
of such persons shall be a teacher and one shall be a 33
nonteacher; 34
(4) One member, who shall be a school administrator, 35
to be elected for a term of four years by and from the 36
active members of the retirement system who shall hold 37
office as a trustee only while an active member; except 38
that, the initial term of office of such trustee shall 39
expire on December 31, 1999; 40
(5) Two trustees to be appointed for terms of four 41
years by the Missouri Charter Public School Association; 42
provided, however, that the terms of office of the first two 43
trustees so elected shall begin immediately upon their 44
election and shall expire two and four years from the date 45
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of their election, respectively. The members of such board 46
of trustees appointed by the Missouri Charter Public School 47
Association shall have experience or qualifications relevant 48
to public charter schools and the retirement system, and at 49
least one such member shall be a teacher. The appointment 50
of the trustees shall be subject to the same rules and 51
regulations applicable to other trustees, including, but not 52
limited to, taking an oath of office as provided in 53
subsection 5 of this section. 54
2. If a vacancy occurs in the office of trustee, the 55
vacancy shall be filled for the unexpired term in the same 56
manner as the office was previously filled. No vacancy or 57
vacancies on the board of trustees shall impair the power of 58
the remaining trustees to administer the retirement system 59
pending the filling of such vacancies. 60
3. In the event of a lapse of a school district's 61
corporate organization as described in subsections 1 and 4 62
of section 162.081, or for any other reason, the general 63
administration and the responsibility for the proper 64
operation of the retirement system shall continue to be 65
fully vested in the trustees then currently serving and such 66
trustees shall continue to serve and be elected in the same 67
manner as set forth in this statute as if no lapse had 68
occurred, except that in the event of vacancies occurring in 69
the office of trustees appointed by the board of education 70
prior to the lapse, the board of trustees shall appoint a 71
qualified person or persons to fill such vacancy or 72
vacancies for terms of up to four years. 73
4. Trustees shall serve without compensation, and any 74
trustee shall be reimbursed from the expense fund for all 75
necessary expenses which the trustee may incur through 76
service on the board of trustees. 77
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5. Each trustee shall, within ten days after such 78
trustee's appointment or election, take an oath of office 79
before the clerk of the circuit court of the judicial 80
circuit in which the school district is located that, so far 81
as it devolves upon the trustee, the trustee will diligently 82
and honestly administer the affairs of the board of trustees 83
and that the trustee will not knowingly violate or willingly 84
permit to be violated any of the provisions of the law 85
applicable to the retirement system. Such oath shall be 86
subscribed to by the trustee making it and filed in the 87
office of the clerk of the circuit court. 88
6. The circuit court of the judicial circuit in which 89
the school district is located shall have jurisdiction over 90
the members of the board of trustees to require them to 91
account for their official conduct in the management and 92
disposition of the funds and property committed to their 93
charge; to order, decree and compel payment by them to the 94
public school retirement system of their school district of 95
all sums of money, and of the value of all property which 96
may have been improperly retained by them, or transferred to 97
others, or which may have been lost or wasted by any 98
violation of their duties or abuse of their powers as such 99
members of such board; to remove any such member upon proof 100
that the trustee has abused the trustee's trust or has 101
violated the duties of the trustee's office; to restrain and 102
prevent any alienation or disposition of property of such 103
public school retirement system by the members, in cases 104
where it may be threatened, or there is good reason to 105
apprehend that it is intended to be made in fraud of the 106
rights and interests of such public school retirement 107
system. The jurisdiction conferred by sections 169.410 to 108
169.540 shall be exercised as in ordinary cases upon 109
HCS SB 1572 22
petition, filed by the board of education of such school 110
district, or by any two members of the board of trustees. 111
Such petition shall be heard in a summary manner after ten 112
days' notice in writing to the member complained of, and an 113
appeal shall lie from the judgment of the circuit court as 114
in other causes and be speedily determined, but such appeal 115
shall not operate under any condition as a supersedeas of a 116
judgment of removal from office. 117
7. Each trustee shall be entitled to one vote in the 118
board of trustees. [Six votes shall be necessary for a 119
decision by the trustees at any meeting of the board of 120
trustees.] Seven members of the board of trustees shall 121
constitute a quorum for the transaction of business at any 122
meeting of the board of trustees. Notwithstanding the 123
foregoing, no action or decision of the board of trustees 124
shall be effective unless approved by the affirmative vote 125
of at least seven members of the board of trustees. 126
8. Subject to the limitations of sections 169.410 to 127
169.540, the board of trustees shall, from time to time, 128
establish rules and regulations for the administration of 129
the retirement system, for eligibility for and determination 130
of benefits under the retirement system, for the investment 131
of retirement system assets, and for the transaction of the 132
retirement system's business. 133
9. The board of trustees shall elect from its 134
membership a chairman and shall, by majority vote of its 135
members, appoint a secretary, who may be, but need not be, 136
one of its members. It shall engage such actuarial and 137
other services as shall be required to transact the business 138
of the retirement system. It shall also engage an 139
investment counselor who shall be experienced in the 140
investment of moneys to advise the trustees on investments 141
HCS SB 1572 23
of the retirement system. The compensation of all persons 142
engaged by the board of trustees and all other expenses of 143
the board necessary for the operation of the retirement 144
system shall be paid at such rates and in such amounts as 145
the board of trustees shall approve. 146
10. The board of trustees shall keep in convenient 147
form such data as shall be necessary for actuarial 148
valuations of the assets of the retirement system and for 149
checking the experience of the system. 150
11. The board of trustees shall keep a record of all 151
its proceedings which shall be open to public inspection. 152
It shall prepare annually and send to the board of education 153
and to each member of the retirement system a report showing 154
the fiscal transactions of the retirement system for the 155
preceding fiscal year, a detailed listing of all salaries 156
and expenditures incurred by the trustees for its operation, 157
the amount of the accumulated cash and securities of the 158
system, and the last balance sheet showing the financial 159
condition of the system by means of an actuarial valuation 160
of the assets and liabilities of the retirement system. The 161
board of trustees shall also prepare or cause to be prepared 162
an annual report concerning the operation of the retirement 163
system herein provided for, which report shall be sent by 164
the chairman of the board of trustees to the board of 165
education. 166
12. The board of trustees shall arrange for necessary 167
legal advice for the operation of the retirement system. 168
13. The board of trustees shall designate a medical 169
board to be composed of three physicians, none of whom shall 170
be eligible for benefits pursuant to sections 169.410 to 171
169.540, who shall arrange for and pass upon all medical 172
examinations required pursuant to the provisions of sections 173
HCS SB 1572 24
169.410 to 169.540, shall investigate all essential 174
statements and certificates made by or on behalf of a member 175
in connection with an application for disability retirement 176
and shall report in writing to the board of trustees its 177
conclusions and recommendations upon all matters referred to 178
it. 179
14. The actuary shall be the technical adviser of the 180
board of trustees on matters regarding the operation of the 181
system created by sections 169.410 to 169.540 and shall 182
perform such other duties as are required in connection 183
therewith. Such person shall be qualified as an actuary by 184
membership as a fellow in the Society of Actuaries or by 185
objective standards which are no less stringent than those 186
established by the Society of Actuaries. 187
15. At least once in each five-year period the actuary 188
shall make an investigation into the actuarial experience of 189
the retirement system, and taking into account the results 190
of such investigation of the experience, the board of 191
trustees shall adopt for the retirement system such 192
actuarial assumptions as shall be deemed necessary. 193
16. On the basis of such actuarial assumptions as the 194
board of trustees shall adopt, the actuary shall make an 195
annual valuation of the assets and liabilities of the funds 196
of the retirement system. 197
17. On the basis of the valuation the board of 198
trustees shall certify the rates of contribution payable by 199
the board of education. 200
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