SECOND REGULAR SESSION
HOUSE BILL NO. 1574
94TH GENERAL ASSEMBLY
INTRODUCED BY REPRESENTATIVES JONES (117) (Sponsor) AND PARSON (Co-sponsor).
Read 1st time January 9, 2008 and copies ordered printed.
Read 2nd time January 10, 2008 and referred to the Special Committee on Retirement January 10, 2008.
Reported from the Special Committee on Retirement February 14, 2008 with recommendation that the bill Do Pass by Consent. Referred to the Committee on Rules pursuant to Rule 25(21)(f).
Reported from the Committee on Rules February 21, 2008 with recommendation that the bill Do Pass by Consent with no time limit for debate.
Perfected by Consent February 29, 2008.
D. ADAM CRUMBLISS, Chief Clerk
To repeal sections 57.967 and 57.980, RSMo, and to enact in lieu thereof two new sections relating to sheriffs' retirement.
Be it enacted by the General Assembly of the state of Missouri, as follows:
Section A. Sections 57.967 and 57.980, RSMo, are repealed and two new sections enacted in lieu thereof, to be known as sections 57.967 and 57.980, to read as follows:
57.967. 1. The normal annuity of a retired member shall equal two percent of the final average compensation of the retired member multiplied by the number of years of creditable service of the retired member, except that the normal annuity shall not exceed seventy-five percent of the retired member's average final compensation.
2. The board, at its last meeting of each calendar year, shall determine the monthly amount for medical insurance premiums to be paid to each retired member during the next following calendar year. The monthly amount shall not exceed four hundred fifty dollars. The monthly payments are at the discretion of the board on the advice of the actuary. [The anticipated sum of all such payments during the year plus the annual normal cost plus the annual amount to amortize the unfunded actuarial accrued liability in no more than thirty years shall not exceed the anticipated moneys credited to the system pursuant to section 57.955.] The money amount granted here shall not be continued to any survivor.
3. If a member with eight or more years of service dies before becoming eligible for retirement, the member's surviving spouse, if he or she has been married to the member for at least two years prior to the member's death, shall be entitled to survivor benefits under option 1 as set forth in section 57.979 as if the member had retired on the date of the member's death. The member's monthly benefit shall be calculated as the member's accrued benefit at his or her death reduced by one-fourth of one percent per month for an early commencement from the member's normal retirement date: age fifty-five with twelve or more years of creditable service or age sixty-two with eight years of creditable service, to the member's date of death. Such benefit shall be payable on the first day of the month following the member's death and shall be payable during the surviving spouse's lifetime.
57.980. 1. A death benefit of [ten] twenty thousand dollars shall be paid to the designated beneficiary of every active member upon his or her death or to his or her estate if there is no designated beneficiary[, or in lieu thereof, a benefit of twenty thousand dollars shall be so paid if the member is killed in the performance of his duty].
2. If a member dies during the performance of his or her duty, in addition to the death benefit specified in subsection 1 of this section, his or her surviving spouse shall be entitled to survivorship benefits of fifty percent of the accrued benefit, payable for a period of five years.
3. If a member dies other than during the performance of his or her duty and before retirement, after becoming eligible for retirement, his or her surviving spouse, if he or she has been married to the member for at least two years prior to his or her death, shall be entitled to survivorship benefits under option one as set forth in section 57.979 as if the member had retired on the date of his or her death.