SB 1572: Modifies provisions relating to public employee retirement systems

HCS/SB 1572 - This act modifies provisions relating to public employee retirement systems. SEPARATION FROM SERVICE FOR LAW ENFORCEMENT OFFICERS OF KANSAS CITY POLICE DEPARTMENT (SECTION 84.570) This act provides that provides that law enforcement officers of the Kansas City Police Department shall separate from service after the earlier, rather than the later, of either 65 years of age or 35 years of credible service. This provision is identical to a provision in SCS/HS/HCS/HB 3068 (2026) and HB 3479 (2026). POLICE RETIREMENT SYSTEM OF ST. LOUIS: BOARD OF TRUSTEES (SECTION 86.213) This act modifies the membership of the Board of Trustees ("Board") of the Police Retirement System of St. Louis ("PRS"). Beginning October 1, 2026, one member appointed by the mayor shall serve a term of one year and the other member shall serve a term of two years. Additionally, this act replaces the three members of the Board elected by the members of PRS with three members who are actively commissioned officers of the municipal police force of St. Louis City and who are elected by the members of PRS who are actively commissioned officers of such municipal police force. These three members shall be granted travel time by the police department to attend the functions authorized by the Board. This provision is identical to a provision in HCS/HBs 2884 & 1655 (2026). MOSERS/MPERS: OVERPAYMENTS (SECTIONS 104.200, 104.490 & 104.1060) Currently, Missouri State Employees' Retirement System ("MOSERS") and Missouri Department of Transportation and Highway Patrol Employees' Retirement System ("MPERS") may recover any overpayments made to a member or beneficiary. This act provides that overpayments may be recovered by means of a single sum or installment repayment. These provisions are identical to provisions in HCS/HBs 735 & 686 (2025) and are substantially similar to provisions in HCS/HBs 2884 & 1655 (2026). MOSERS/MPERS: REFUNDS OF CONTRIBUTION FOR TIER 2011 MEMBERS (SECTION 104.1091) Currently, a vested former member or a former member who is not vested may request a refund of his or her contributions and interest from MOSERS or MPERS. This act provides that for a former member who is not vested, the system shall refund such member's contributions and interest credited thereon if the total amount is $1,000 or less, or such other amount as may be permitted under federal law, provided that: (1) The system and the State Treasurer are authorized to share information regarding the refund, which shall be open to public inspection as allowed under current law; and (2) The system's procedures to locate such member from time to time shall be considered reasonable and necessary diligence consistent with good business practices and in compliance with federal law.. This provision is identical to a provision in SCS/SBs 1557 & 1054 (2026) and is similar to HB 2198 (2026). MOSERS/MPERS: LUMP SUM PAYMENTS FOR CLOSED AND YEAR 2000 MEMBERS (SECTION 104.1092) Currently, any member of MOSERS or MPERS could make an election to receive a lump sum payment in lieu of retirement annuity benefits under the closed plan or the year 2000 plan beginning on a date established by the board, but not after May 31, 2018. This act reinstates this election option beginning or after January 1, 2026. This provision is identical to a provision in HCS/HBs 2884 & 1655 (2026) and in HCS/HBs 735 & 686 (2025). ALL SYSTEMS: USE OF PUBLIC RETIREMENT SYSTEM FUNDS FOR ELECTION PURPOSES (SECTION 105.695) The act prohibits the contribution or expenditure of system funds by any public pension system to advocate, support, or oppose the passage or defeat of any ballot measure or the nomination or election of any candidate for public office. System funds shall not pay any debts or obligations of any committee supporting or opposing ballot measures or candidates. This provision is identical to a provision in HCS/HBs 2884 & 1655 (2026) and is similar to a provision in HCS/HBs 735 & 686 (2025). PSRSSTL: BOARD OF TRUSTEES (SECTION 169.450) Currently, six votes for the thirteen-member Board of Trustees ("Board") of the Public School Retirement System of the City of St. Louis ("PSRSSTL") is necessary for a decision by the Board. This act instead provides that seven members of the Board shall constitute a quorum and no action or decision of the Board shall be effective unless approved by an affirmative vote of at least seven members. This provision is identical to a provision in HCS/HBs 2884 & 1655 (2026) and is similar to a provision in HB 3208 (2026). KATIE O'BRIEN