SB 997 Removes certain limitations from investments made by boards of trustees of police and firemen's retirement systems
Sponsor: Crowell
LR Number: 4101S.01I Fiscal Note: 4101-01
Committee: Pensions, Veterans' Affairs and General Laws
Last Action: 5/16/2008 - S Informal Calendar S Bills for Perfection--SB 997-Crowell Journal Page:
Title: Calendar Position:
Effective Date: August 28, 2008

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Current Bill Summary


SB 997 - Currently, investments made by boards of trustees of police and firemen's retirement systems are subject to all terms, conditions, limitations, and restrictions imposed upon life insurance or casualty companies in making their investments. This act removes those terms, conditions, limitations, and restrictions and requires the board to invest the funds of the systems as permitted by Sections 105.687 to 105.690, RSMo, regarding the duties of investment fiduciaries.

This act is similar to provisions in SB 66 (2007) and identical to HB 2055 (2008).

ALEXA PEARSON