The 2016 legislative session is underway with LAGERS pursing two pieces of legislation.
Local Plan Administration Bill
First, LAGERS will be seeking to amend its governing statutes so that participating employers of the system who are currently also administering a frozen pension plan have the option to voluntarily transfer that administration to LAGERS.
What this bill will do:
What this bill will NOT do:
- Provide an alternative solution for the administration of an employer’s frozen pension plan
- Allow employers to reduce administrative costs by taking advantage of LAGERS’ expertise and economies of scale
- Enable employers who wish to do so, to get out of the pension administration business
- Continue to pay accrued benefits to retirees under the frozen plan in accordance with the plan’s original governing documents
- Change the benefits for members and retirees that have been accrued under the frozen plan
- Relieve an employer of its financial obligation to fund their frozen plan
- Mandate that an employer must consolidate frozen plans into LAGERS
- Allow for the administration of an open pension plan
- Have any adverse financial impact to the LAGERS system
Below are links to the respective bills:
Public Safety Definition Bill
LAGERS is also pursuing a change in its statutes so that participating employers of the system have the option to update their definition of “police officer” and/or “fire fighter.” Currently LAGERS-covered police officers and fire fighters may retire with full benefits at age 55. All other LAGERS members may retire with full benefits at age 60.
Under the proposed legislation, a participating LAGERS employer may elect to cover emergency medical service (EMS) personnel as "fire fighters" and/or elect to cover jailers as "police officers." The cost for adopting this option would be paid solely by an increase in the monthly contributions of the local government entity.
If this legislation were approved, it would simply add an option for LAGERS participating employers to choose a more inclusive definition of public safety for those who contribute to the law enforcement and life saving efforts in Missouri’s communities.
Emergency dispatchers were originally included in the prosposed language of the bill introduced by LAGERS, but were removed during the legislative process.
LAGERS expects this legislation to be filed shortly.