SB1146 - Allows the board of trustees of the Public School Retirement System of the City of St. Louis to provide cost-of-living increases

SB 1146

Allows the board of trustees of the Public School Retirement System of the City of St. Louis to provide cost-of-living increases

Sponsor:	Nasheed
LR Number:	6734S.01I	Fiscal Notes
Committee:	General Laws and Pensions
Last Action:	3/15/2016 - Hearing Conducted S General Laws and Pensions Committee	Journal Page:

Title:		Calendar Position:
Effective Date:	August 28, 2016

List of 2016 Senate Bills

Current Bill Summary

SB 1146 - This act allows the board of trustees of the Public School Retirement System of the City of St. Louis to provide cost-of-living increases to retirement allowances. If the cost-of-living increases by at least two percent, the retirement allowance shall be increase by two percent. If the cost-of-living increases by at least five percent, the retirement allowance shall be increase by five percent. The cost-of-living increase shall not exceed five percent in a given year, and the total amount of increases shall not exceed eighty percent of the member's retirement allowance established at the time of retirement.

This act is substantially similar to HB 2550 (2016).

JOSHUA NORBERG