State Treasurer Clint Zweifel (ZWY-ful) is supporting legislation that would prohibit pension advances in Missouri. Pension advance schemes offer retirees quick access to cash, but are often accompanied by extremely high interest rates and hidden fees not disclosed to the retiree. Rep. Tony Dugger, R-Hartville, has filed a measure which seeks to prohibit pension advances in Missouri. If passed, the legislation would prevent any company operating under Missouri law from offering a pension advance in exchange for all or a portion of a retiree’s public pension benefit. House Bill 1217 applies to all public pensions in the state of Missouri and would allow victims of these schemes to reclaim any money lost during these transactions.