Modifies provisions relating to public employee retirement benefits

HB 735 modifies Missouri's public employee retirement system by establishing a 10-year window (with no time limit for fraud) to correct benefit errors, allowing the retirement board to recover overpayments through lump sums or adjusted future payments. It also halts benefits for survivors or beneficiaries charged with intentionally killing a member (resuming payments if not convicted), and permits certain deferred annuity members to elect a lump sum payment (by January 1, 2026) in exchange for forfeiting future retirement benefits. Additionally, the bill prohibits retirement systems from using funds for political advocacy or candidate support. These changes directly affect current and former public employees, their survivors, and the retirement system's administrative processes.