|SB 0290||Revises pension benefits for prosecuting attorneys, police officers and firemen|
|LR Number:||1213L.11T||Fiscal Note:||1213-11|
|Committee:||Pensions and General Laws|
|Last Action:||07/12/01 - Signed by Governor||Journal page:|
|Title:||HS SCS SB 290|
|Effective Date:||August 28, 2001|
HS/SCS/SB 290 - This act revises certain public retirement systems.
PROSECUTING ATTORNEYS - This act requires counties that, after August 28, 2001, elect to have a full-time prosecuting attorney pay the same amount into the Missouri Prosecuting Attorneys and Circuit Attorneys' Retirement System Fund as counties of the first classification.
The act also provides that the normal annuity of a retired prosecuting attorney of a county of a third or fourth classification that after August 28, 2001, elected to make the position full-time, shall be equal to fifty percent of the final average compensation. These provisions are similar to SB 343.
ST. LOUIS POLICE RETIREMENT SYSTEM - This act modifies the calculation of the average final compensation to be based on the final 2 years of service rather than the final 3 years of service. Provisions are made for a one time re-entry into the system when participating in the DROP plan. The Board of Trustees may either use the city counselor as legal advisor or employ a legal advisor.
KANSAS CITY POLICE AND CIVILIAN RETIREMENT SYSTEM - The Kansas City Police Retirement System is revised to increase the benefits to members disabled in the line of duty from 60 percent to 75 percent. Normal retirement benefits are increased from 2 percent to 2 1/2 percent per year of service.
The Kansas City Civilian Retirement System is revised to provide for offsets against workers' compensation benefits. The requirement that surviving spouses remain unmarried is deleted. A surviving spouse is entitled to receive a base pension along with a cost-of-living adjustment and payments will continue for the lifetime of the surviving spouse. However, after August 28, 2001, the surviving spouse must be married to a member who was in active service at the time of the member's death. The surviving spouse of a member who dies after retirement, who has not selected the optional annuity will receive half of the member's normal retirement with cost-of-living adjustments. However, the surviving spouse must have been married to the member at the time of the member's retirement. If a surviving spouse of a member who dies in service or who retired prior to August 28, 2001, and who has not remarried prior to August 28, 2001, but who subsequently remarries will be entitled to receive benefits as a special consultant in an amount equal to the amount the surviving spouse would have received in absence of the remarriage.
In both the Kansas City Police and Civilian retirement systems, members who are entitled to benefits by becoming the surviving spouse of more than one member, are restricted to the largest benefit calculated. The timing for the credit of income from investments is changed from one year to frequent intervals determined by the retirement board. The retirement board may also appoint investment managers to manage the investments of the retirement system.
ST. LOUIS FIRE - Makes language gender neutral. Allows accumulated sick leave to be divided by placing one-half in the member's Deferred Retirement Option Plan (DROP) account, one- fourth added to the member's average final compensation, and one- fourth as time added to creditable service.
ST. LOUIS PENSION PLANS - Requires any retirement plan in St. Louis to provide contact information for system retirees to any retiree organization.
ST. JOSEPH FIRE - Removes the remarriage penalty for
survivors of members of the St. Joseph Firemen's Pension Plan.