Showing posts with label SB 748. Show all posts
Showing posts with label SB 748. Show all posts

Section 2 of the perfected SB 748 (retirement incentive) mentions receiving credit for unused sick leave to count as time served,

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Section 2 of the perfected SB 748 (retirement incentive) mentions receiving credit for unused sick leave to count as time served, in order to achieve ones’ 80 and out. Does the unused sick leave only count to acquire the 80 total, or can it increase the total, giving one more than 80 years in age and time served? Thanks.
We apply unused sick leave to increase the amount of a member’s service credit in all cases which in turn increases the amount of the member’s monthly benefit. However under SB 748, unused sick leave could also be used to help a member qualify for 80 & out retirement eligibility (normally, unused sick leave cannot be used to qualify for retirement eligibility). Print Friendly and PDF

Under SB748, if you elect to retire under that incentive, you are prohibited from working for the State in a full and/or part time capacity.

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Under SB748, if you elect to retire under that incentive, you are prohibited from working for the State in a full and/or part time capacity. What about an hourly and intermittent position (H & I)? Is this considered part-time work and also prohibited if you elect to retire under SB748? Thanks – this is a great forum for answers to questions we have!
If passed and signed into law, the provisions of SB748 would prohibit “any employment with any department” and that would apply to any level of employment. In other words, hourly and intermittent employment would also be prohibited. Print Friendly and PDF

Senate Bill 748, which is currently under consideration by the General Assembly, states that if an employee retires

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Senate Bill 748, which is currently under consideration by the General Assembly, states that if an employee retires under the provision of the bill, they are precluded from working for the state for three years from the date of retirement. Would this stipulation apply if the retiree could provide consulting services to a state agency and therefore be paid from expense and equipment (E & E) funds rather that personal service funds?
If passed and signed into law, the provisions of SB748 would prohibit “any employment with any department” and that would apply to any level of employment. In other words, consulting employment paid through E & E would also be prohibited. The source of the funds is not relevant. Print Friendly and PDF

I am very impressed with the way you folks handle the rumor central site. My question is in regard to my confusion

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I am very impressed with the way you folks handle the rumor central site. My question is in regard to my confusion over public school systems that are “State Employment” vs. “non-State Employment” as referenced in SB 748.
How do we find out what public school systems are “State Employment” vs. “non-State Employment”?
In other words, where do we go to ask, “What systems are covered by the Public School Retirement System (PSRS)?”
Generally, employees of public school systems in the state of Missouri are covered by the Public School Retirement System (PSRS), or certain other regional retirement systems, such as the Public School Retirement System of the City of St. Louis and the Public School Retirement System of Kansas City. Your employer is the best source of information about retirement coverage, so we would recommend that you contact the human resources department of the school where you were employed for more specific information.
The eligible employees at the State Schools for the Severely Handicapped, the Missouri School for the Deaf and the Missouri School for the Blind are covered by MOSERS. In addition, eligible employees of the state colleges and universities (except for the University of Missouri system), and State Technical College of Missouri are MOSERS members.
You can contact the Public School Retirement System (PSRS) at www.psrs-peers.org or by calling 1-800-392-6848. Print Friendly and PDF

Legislative Spring Break begins March 16 and runs through March 24. It's my understanding the House

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Legislative Spring Break begins March 16 and runs through March 24. It's my understanding the House will likely begin to refer Senate Bills to committee after Spring Break. Hypothetically speaking, if SB 748 was assigned to a House Committee and passed and the Governor signs, prior to May 1, 2006 (which is the beginning timeline for SB 748), does that mean in order to retire May 1, retirement paperwork needs to be filed with MOSERS by March 31. The passage of this bill would allow me to use accumulated sick leave towards retirement eligibility; however, will MOSERS accept retirement paperwork prior to the bill being passed. Thank you.
Yes, in order to retire May 1st, members would have to have their paperwork in to MOSERS by March 31st. Members who plan to retire under the provisions of SCS for SB 748 (if it does pass and becomes law) must meet the same retirement application deadlines. MOSERS will accept retirement applications for those members eligible for the potential health insurance retirement incentive prior to its passing. If a member is not eligible to retire without the incentive, the member’s application would be null and void if the bill failed to pass. If a member is eligible to retire and the health insurance retirement incentive does not pass, the member may rescind the application by sending written notice to MOSERS Print Friendly and PDF

My husband plans to retire July 1, 2006. I work for the state and had planned to cover him on my insurance.

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My husband plans to retire July 1, 2006. I work for the state and had planned to cover him on my insurance. If SB748 passes and is signed by the Governor will he be able to take advantage of it or will he have to stay under my insurance?
If the SCS for SB 748 passes and becomes law prior to your husband’s retirement and he is otherwise eligible (he must be eligible to retire under the Rule of 80), he may take advantage of the medical insurance retirement incentive. Print Friendly and PDF

Under the new proposed bill, can I use my unused sick leave to go into BackDROP? I’m currently beyond the 80 rule?

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Under the new proposed bill, can I use my unused sick leave to go into BackDROP? I’m currently beyond the 80 rule?
The SCS for SB 748 would allow members to use unused sick leave toward eligibility for the “Rule of 80.” However, that bill does not allow members to use unused sick leave to qualify for BackDROP. Print Friendly and PDF

I have two questions about eligibility under the current bill (SB 748):

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I have two questions about eligibility under the current bill (SB 748):
1. The State Schools have employees that are employed during the school term. Are they considered active employees during June and July under this bill?
As long as employment has not terminated, these qualifying employees would be eligible for the incentive under SB 748.
2. If a State Schools teacher retires under this bill, will they be prohibited from working as a substitute teacher for three years for the state?
Yes, SB 748 prohibits any employment with the state for a period of three years. You would not be prohibited from non-state public employment, such as working as a teacher for a public school system covered by the Public School Retirement System (PSRS) of Missouri. Print Friendly and PDF

When will SB 748 (the health insurance incentive bill) be voted on? Also, will personnel still need three months to process retirements?

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When will SB 748 (the health insurance incentive bill) be voted on? Also, will personnel still need three months to process retirements?
The SCS (Senate Committee Substitute) for SB 748 has progressed through the Senate. The bill was then sent to the House, but it has not yet been assigned to a committee. You can follow the progress of the bill by using the Joint Bill Tracking system at http://www.moga.mo.gov.
It is not possible to predict when (or if) a bill will progress through the next steps that are required in order for it to become law. A good summary of the steps involved in the legislative process, titled How a Bill Becomes Law, can be found at http://www.senate.mo.gov/bill-law.htm. The last day of session this year is May 12, 2006. SCS for SB 748 would have to be passed by both houses and declared “truly agreed to and finally passed” by that date. As described in How a Bill Becomes Law, all bills that are “truly agreed to and finally passed” are sent to the Governor for consideration.
In response to your second question, MOSERS must receive retirement applications no later than the last day of the second month preceding the month of your intended retirement date. Therefore, if you intend to retire on July 1, your application must be in to MOSERS by May 31. MOSERS’ application process consists of two steps, (1) the application step and (2) the election step. This allows MOSERS to provide you with individualized information that you need to make informed decisions regarding your retirement benefit payment. We suggest that members submit their Application for Retirement 45 to 60 days before their planned retirement date. The procedure just mentioned will not be altered or amended for purposes of the incentive included in SB 748. These are the MOSERS’ retirement application processing procedures. Your personnel office may have additional notification requirements, so please contact your personnel office for further information. Print Friendly and PDF

I currently can retire under the Rule of 80 with over 3 yrs. BackDROP. If SB 748

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I currently can retire under the Rule of 80 with over 3 yrs. BackDROP. If SB 748 passes, can I still receive my BackDROP along with the 3 year active medical insurance rate, if I choose to retire some time during the May 1 - Aug. 1 window?
Yes, if the SCS for SB 748 passes and you are eligible to retire under the incentive, you may retire during the incentive window and you may also elect the BackDROP. (The start date for the window period would not necessarily be May 1 – it cannot begin until the first day of the month following the day the governor would approve the bill if it passes.) Print Friendly and PDF

It appears that your answer to a question posted 1/27/06 was that only those persons eligible for 80 & Out

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It appears that your answer to a question posted 1/27/06 was that only those persons eligible for 80 & Out would be eligible for the medical incentives. I am eligible for retirement under MSEP 2000 but not for 80 & Out. Will the incentive apply only to those qualifying under 80 & Out?
The Senate committee Substitute for SB 748 was adopted and perfected by the Senate on January 31st. If it passes in its current form, it would only apply to those eligible to retire under the “Rule of 80.” Print Friendly and PDF

How is "creditable service" defined as stated in the perfected version of SB 748? For eligibility, does this include months of accumulated sick leave?

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How is "creditable service" defined as stated in the perfected version of SB 748? For eligibility, does this include months of accumulated sick leave?
Yes. The SCS for SB 748 would allow members to use their accumulated unused sick leave to become eligible for the Rule of 80. For every 168 hours of unused sick leave, the member would receive 1 month of creditable service to be used towards qualifying for eligibility under the Rule of 80. Print Friendly and PDF

If my memory serves correctly, there has been only one medical insurance retirement incentive bill passed.

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If my memory serves correctly, there has been only one medical insurance retirement incentive bill passed. Each time a bill is introduced there has been a time frame of eligibility, i.e. May - Aug. Also, each introduction has included five year coverage at the employee rate which, with one exception, was lowered to three years. Is it possible that bill introduction is being used to entice eligible employees to not retire?
You are correct that only one medical insurance retirement incentive bill passed and was signed into law. However, we have heard nothing to suggest that the intent of the current incentive proposal might be to keep eligible employees from retiring. The sponsor of the current bill, Sen. Carl Vogel, issued a press release in December 2005 regarding SB 748. The following quote from that press release provides his announced intention in filing the bill:
“Although there is no talk of layoffs reaching the magnitude of this time last year, it is no secret state departments have been asked to continue to search for ways to do more with less. The state currently has many employees who are eligible to retire under the provisions of 80 and out…but have chosen to remain on the state payroll. An often mentioned reason for continuing to work is the need for health insurance.” Print Friendly and PDF

Your latest 2006 Legislative Update states that the use of sick leave in order to use the incentive in SB748 is still in there.

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Your latest 2006 Legislative Update states that the use of sick leave in order to use the incentive in SB748 is still in there. What I have read on the Senate Committee Substitute and the Perfected documents on the General Assembly website for SB748, no longer mentions the use of sick leave to meet the requirement for the incentive. Which is correct?
The current SCS for SB 748, which was adopted and perfected by the Senate on January 31st, still includes the language allowing members to use their sick leave towards eligibility for Rule of 80 for purposes of retiring with the incentive. Print Friendly and PDF

How does this bill create an unfunded mandate to MOSERS? If it does, how much would it be?

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How does this bill create an unfunded mandate to MOSERS? If it does, how much would it be?
This bill does not create an unfunded mandate. However, it would cause our unfunded liability to increase. An unfunded liability is created whenever a benefit increase occurs. In the cost valuation of this bill that the actuary performed, they estimated the unfunded liability would increase by approximately $60 million as the result of people retiring earlier than would have otherwise been the case. That additional liability would be paid off over a thirty year period using a combination of monthly contributions made by the state and investment returns. This process is similar to a mortgage payment and is not unusual in the financing of retirement benefits. Print Friendly and PDF

If SB 748 passes and we elect to retire, one provision is that we will not be able to

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If SB 748 passes and we elect to retire, one provision is that we will not be able to work for the state for at least three years. Does this rule apply if you retire from DMH and would want to seek part-time employment at a state college or university?
If you elect to retire and receive the medical incentive, you will be prohibited from re-employment with the state for at least three years. This provision applies to full-time and part-time employment at any department. This would include any state college and university under the department of higher education (except the University of Missouri system). Print Friendly and PDF

I will soon be eligible for full retirement under the MSEP plan; however, I will not be eligible for "80 and Out."

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I will soon be eligible for full retirement under the MSEP plan; however, I will not be eligible for "80 and Out." Does this mean, under the proposed changes to SB 748, that I will not be eligible for the insurance incentive?
A Senate Committee Substitute (SCS) was adopted by the committee this week. The SCS for SB 748 did change several provisions of the health care retirement incentive. The substitute provides temporary medical and retirement incentives only for those active employees who will be eligible to retire under the “Rule of 80” during the incentive window, May 1 to August 1. (The May 1 beginning date assumes the bill would pass and be signed by the governor before May 1. If the bill would pass and be signed by the governor after May 1, the window would begin the first of the month following the effective date of the bill.) In addition, as presently proposed, the incentive period would be limited to three years or until becoming eligible for Medicare, whichever occurs first. A summary of SCS for SB748 can be found at http://www.moga.mo.gov.
MOSERS will post updates to retirement bills on our website under Legislation. If you would like to be notified of legislative updates via email, click on the “Member Login” section of our site using your username and password. Then click on “Email Preferences” and select the updates you would like to receive via email. Print Friendly and PDF

If the legislative session ends May 12 and the governor has until July 14th to sign the bill and I plan on retiring June 1,

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If the legislative session ends May 12 and the governor has until July 14th to sign the bill and I plan on retiring June 1, will I still be able to benefit from this bill or do I need to wait until he signs the bill?
The bill would not become law until the Governor signs it. You could apply for retirement before it is signed but you would still have to be actively employed when the governor signs the bill in order to qualify. Print Friendly and PDF

I heard that the proposed SB748 changes the medical coverage from 5 years to 3 years. Is this correct?

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I heard that the proposed SB748 changes the medical coverage from 5 years to 3 years. Is this correct?
Yes, the Senate Committee Substitute (SCS) for SB 748 changes the health care retirement incentive provision from five years to three years. As presently proposed, it would only apply to members who will be eligible to retire under the “Rule of 80” during the incentive window (May 1 to August 1). Those who qualify would be able to keep their medical insurance at the active member rate for three years or until becoming eligible for Medicare, whichever happens first. Print Friendly and PDF

Correction: A Senate Committee Substitute for SB 748 was filed on January 24, 2006 in the Senate

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Correction:
A Senate Committee Substitute for SB 748 was filed on January 24, 2006 in the Senate Pensions, Veterans' Affairs and General Laws Committee. This substitute changes the incentive window to May 1, 2006 through August 1, 2006. Note this correction when reading our answer to the question below.

With the emergency clause - when does that mean they will have to have the bill signed?

An emergency clause provides that a bill will become law the day that it is signed by the Governor. The Governor has a certain period of time to review a bill and determine whether to approve or veto it.

An example of a bill with an emergency clause is SB 748. The emergency clause in SB 748, as currently drafted, includes an eligibility "window” of May 15 to August 15, 2006. Therefore, if the bill is passed by the General Assembly and the Governor signs it before May 1, eligible members could retire under the incentive during the months of May, June, July and August of 2006. If he were to sign it into law between May 1 and May 31, eligible members could retire under the incentive in June, July, and August. If he were to sign the bill between June 1 and June 30, eligible members could retire under the incentive in July and August. If he were to sign the bill between July 1 and July 31, eligible members could only retire under the incentive in August 2006. Print Friendly and PDF