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).