Modifies provisions relating to certain teacher retirement systems

HB 1329 restricts new benefit increases for certain Missouri teacher retirement plans unless the plan's funding level meets specific thresholds (at least 80% funded before and 75% after the change). It requires unfunded costs from any benefit adjustments to be paid off over 20 years max and mandates accelerated contributions for plans below 60% funding. However, the bill explicitly allows a one-time supplemental payment of up to $2,000 per retiree for members of the retirement system governed by sections 169.410-169.542, payable by September 30, 2026, subject to state funding. This directly affects retired teachers in Missouri’s specific teacher retirement system who qualify for the supplemental payment.