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MissouriSB15722026 Regular SessionSenateWALLET

Modifies provisions relating to public employee retirement systems

Sponsored By: Mike Henderson (Republican)

Signed by Governor

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Bill Overview

Analyzed Economic Effects

5 provisions identified: 1 benefits, 1 costs, 3 mixed.

Pension payment errors trigger corrections

Covered Missouri public retirement systems must correct payments that were too high or too low. They can recover overpayments through lump-sum repayments, installments, or smaller future checks until the money is recovered. For nonfraud errors, discovery or notice must generally occur within 10 years of the later date: the pension's start or the error. Fraud has no such time limit.

State pension cashouts trade future benefits

Beginning January 1, 2027, the state retirement board can offer a one-time cashout for closed-plan or Year 2000 deferred pensions. The board must first create the program by rule. Eligible members must have left employment, earned a deferred pension, and not reached normal retirement age or eligibility. The board sets the payment as a percentage of the pension's present value; the law sets no percentage. Taking it forfeits credited service, future pension benefits, and long-term disability rights. Members who return to work enter the Year 2000 plan as new employees without their prior service credit.

Police pension trustees get updated rules

Beginning October 1, 2026, St. Louis mayor-appointed police pension trustees start with one-year and two-year terms; later terms last two years. They remain until successors are appointed, and neither the police chief nor public safety director can hold these seats. Active commissioned officers elect three trustees from their ranks. The police department must grant these elected trustees paid travel time for board-approved functions, capped at 30 days per board fiscal year.

Public pensions cannot fund political advocacy

Missouri public pension systems cannot spend or contribute system money to support or oppose ballot measures or candidates. They also cannot pay committees' related debts or obligations. Systems and employees can still explain potential effects on the pension system through their regular programs and work.

Small state pension balances get refunded

The Missouri state retirement system must refund nonvested former members' employee contributions and credited interest across its plans. This applies to totals of $1,000 or less, or another amount allowed by federal law. Payment must occur within a reasonable processing period, but never earlier than 90 days after employment ends. A refund forfeits credited service and future benefit rights, including disability rights. The system must take reasonable steps to find former members; refunds returned after those efforts are presumed abandoned property.

Sponsors & Cosponsors

Sponsor

  • Mike Henderson

    Republican • Senate

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

All Roll Calls

Yes: 26 • No: 0

House vote • 5/11/2026

Reported Do Pass

Yes: 10 • No: 0

House vote • 5/5/2026

HCS Reported Do Pass

Yes: 16 • No: 0

Actions Timeline

  1. Delivered to Secretary of State (G)

    7/9/2026

  2. Approved by Governor (G)

    7/9/2026

  3. Delivered to Governor

    5/28/2026

  4. Signed by House Speaker

    5/28/2026House

  5. Truly Agreed To and Finally Passed

    5/15/2026

  6. Taken Up

    5/15/2026

  7. Reported to the Senate with... - HCS, as amended

    5/14/2026House

  8. Third Read and Passed with Amendments - With HA 1, HA 2 & HA 3.

    5/14/2026House

  9. HCS Adopted

    5/14/2026House

  10. Title of Bill - Agreed To

    5/14/2026

  11. Taken Up for Third Reading

    5/14/2026House

  12. Placed on the Informal Third Reading Calendar

    5/14/2026House

  13. Reported Do Pass - AYES: 10 NOES: 0 PRESENT: 0

    5/11/2026House

  14. Voted Do Pass

    5/11/2026House

  15. Executive Session Completed

    5/11/2026House

  16. Referred: Rules - Legislative

    5/7/2026House

  17. HCS Reported Do Pass - AYES: 16 NOES: 0 PRESENT: 0

    5/5/2026House

  18. HCS Voted Do Pass

    5/5/2026House

  19. Executive Session Completed

    5/5/2026House

  20. Public Hearing Completed

    4/28/2026House

  21. Referred: Crime and Public Safety

    4/21/2026House

  22. Read Second Time

    4/7/2026House

  23. Reported to the House and First Read

    4/2/2026House

Bill Text

  • Committee Substitute

    PDF

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