Modifies provisions relating to retirement benefits for certain teacher retirement systems

HB 406 clarifies definitions for Missouri's teacher retirement systems to standardize how benefits are calculated. It defines key terms like "accumulated contributions," "average final compensation," and "creditable service" used in determining retirement payouts for teachers and school employees. The bill directly affects active teachers, retired members, and school districts operating under the public school retirement system. By establishing uniform terminology, it ensures consistent application of benefit formulas across the retirement system, without changing benefit amounts or eligibility rules. The bill is currently in committee review (referred to "Emerging Issues" on May 15, 2025).