Missouri Code of State Regulations › Title 16 - RETIREMENT SYSTEMS › Division 10 - The Public School Retirement System of Missouri › Chapter 3 - Funds of Retirement System › Section 16 CSR 10-3.010 - Payment of Funds to the Retirement System

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This amendment clarifies the treatment of
				  employer contributions to employee Health Savings Accounts (HSAs) as salary
				  rate as defined in section
				  169.010, RSMo. The
				  amendment also rearranges some existing language and adds subsections to better
				  organize the regulation.
(1)
				Each employer reporting to The Public School Retirement System of Missouri
				shall report required data on employees and all contributions to the retirement
				system using the Online Automated System Integrated Solution (OASIS).
(2) Employers shall use OASIS to report
				salary payments made to all employees, contributions withheld from employees
				included in the retirement system, and supporting information required by the
				board of trustees. Transmission of data must be sent to the board of trustees
				no later than ten (10) working days after the last day of each calendar month
				of the school year in which salaries are paid.
(3) Employers of persons included in the
				retirement system shall withhold from each salary payment issued to such
				persons during the school year in which the services are rendered an amount
				which is the percent of salary rate required by the contribution rate then in
				effect; and employers shall transmit to the board of trustees, not later than
				ten (10) days after the last day of each calendar month of the school year,
				twice the amount withheld during the month.
(4) All deductions of contributions from
				salary payments made by employers for the retirement system are declared and
				shall be considered to be funds belonging to the retirement system; and no
				employer shall refund or repay any contributions or any part of any
				contributions so deducted to any employee for any cause but shall transmit all
				contributions deducted, together with an equal amount, to the board of
				trustees, which board shall settle all claims against funds so
				deducted.
(5) All contributions
				withheld from salaries paid to members along with an equal contribution of the
				employer shall be transmitted to the board of trustees by check, bank draft,
				electronic funds transfer, or any negotiable instrument collectible at par
				through a bank in the state of Missouri, made payable to The Public School
				Retirement System of Missouri.
(6)
				If remittance of the full amount of both employee's and employer's
				contributions which are due the retirement system is not received in accordance
				with these regulations, it shall be considered a failure or refusal by the
				employer to transmit such amount and suit for recovery of the amount may be
				instituted as provided for in section
				169.030,
				RSMo.
(7) For purposes of
				determining retirement contributions and benefits, salary rate includes medical
				insurance premiums (including dental and vision) paid by the employer on behalf
				of the member and payments made by the employer on behalf of the member to a
				self-funded medical benefits plan. The employer shall withhold from the
				member's salary and remit to the system contributions on any such premiums and
				payments, along with matching employer contributions. The payment reported for
				each member covered by a self-funded medical benefits plan shall be determined
				by the employer.
(A) Salary rate also includes
				payments made by the employer on behalf of the member to purchase an annuity,
				or fund a deferred compensation plan, in lieu of medical insurance or a
				self-funded medical benefits plan.
(B) Premiums and payments for prescription
				drug, life, and other ancillary benefits determined separately from premiums
				and payments for general medical benefits are not part of salary
				rate.
(C) Beginning July 1, 2017,
				premiums paid by the employer on behalf of the member and payments made by the
				employer on behalf of the member to a self-funded medical benefits plan for
				prescription drug coverage shall be included in salary rate as defined in
				section
				169.010, RSMo,
				whether or not such premiums or payments for prescription drug coverage were
				determined separately from premiums and payments for general medical benefits.
				Contributions transmitted to the retirement system before July 1, 2017, based
				on salary rates which either included or excluded employer-paid premiums or
				payments to a self-funded medical benefits plan for prescription drug coverage
				for members shall be deemed to have been in compliance with this section. The
				retirement system shall not refund or adjust contributions or adjust benefit
				determinations with respect to any period before July 1, 2017, solely because
				of the treatment of employer-paid premiums or payments to a self-funded medical
				benefits plan for prescription drug coverage for members.
(D) Beginning July 1, 2020, certain payments
				made by the employer on behalf of a member to a Health Savings Account (HSA)
				shall be included in salary rate as defined in section
				169.010, RSMo,
				whether or not such payments were determined separately from premiums and
				payments for general medical benefits. Payments made by an employer to a
				member's HSA shall be included in salary rate up to the amount that is offered
				to all employer's employees and not to exceed the applicable annual HSA
				contribution limit set by Internal Revenue Code for single coverage. The annual
				contribution limit used will be the one in effect for the calendar year in
				which a plan year begins. Contributions transmitted to the retirement system
				before July 1, 2020, based on salary rates which either included or excluded
				employer payments to a member HSA shall be deemed to have been in compliance
				with this section. The retirement system shall not refund or adjust
				contributions or adjust benefit determinations with respect to any period
				before July 1, 2020, solely because of the treatment of employer-paid HSA
				contributions.
(E) Salary, salary
				rate, or compensation as defined in section
				169.010, RSMo, shall
				not be reduced due to premium rebates or refunds received by the employer as a
				result of the implementation of the "Patient Protection and Affordable Care
				Act,"
				Public Law
				111-148.