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Retirement Planning > Retirement Investing

Missouri Lawmakers Pass Public Retiree LTCI Bill

By Allison Bell

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The Missouri House and the Missouri Senate have given final approval to H.B. 1039, a bill that would retirees in the Missouri Local Government Employees’ Retirement System (LAGERS) deduct either health insurance or long-term care insurance (LTCI) premiums from their retirement allowance.

Missouri statutes normally protect public employees’ retirement funds from any kind of attachment or garnishment, except in connection with cases involving matters such as fraud or child support. H.R. 1039 states that a retiree can authorize the LAGERS board to deduct health insurance or LTCI premium payments from the LAGERS retirement allowance.

Missouri Gov. Jay Nixon, D, must sign the bill before it can take effect.

The bill, which was sponsored by state Rep. Mike Leara, R-St. Louis, passed 158-0 in the House and 33-0 in the Senate.

The effective date would be Aug. 28.

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