Modifies provisions relating to certain school retirement systems

HB 2610 modifies rules for Missouri school retirement systems to regulate how they can increase pension benefits and manage their funding levels. The bill requires that any benefit increase be approved only if the system's funded ratio remains above 75%, while systems with funding below 60% must create accelerated payment schedules to catch up on contributions. Additionally, the legislation establishes a one-time supplemental payment of up to $2,000 for eligible retirees, funded by state appropriations and payable by September 30, 2024. These provisions apply specifically to certain school retirement plans but exclude systems governed by other chapters of the state code.