HB 643 Modifies laws regarding to local government retirement systems including LAGERS, CERF, and the Police Retirement System of St. Louis

Current Bill Summary

- Prepared by Senate Research -


SCS/HB 643 - This act provides that a political subdivision that provides a retirement plan to some or all of its employees and that is an employer in the Missouri Local Government Employees' Retirement System (LAGERS) may enter into an agreement with LAGERS assigning all duties and responsibilities of operating the retirement plan to LAGERS.

After making the necessary changes to the plan's governing documents, and receiving a concurring resolution from the prior plan's board of trustees, the political subdivision employer may enter into an agreement with the Board of LAGERS who will become the governing board of the political subdivision's prior plan. The prior plan shall be administered as a frozen prior system and will continue to operate under its existing governing documents. The political subdivision shall retain responsibility for the funding of its prior plan (70.621).

This provision is identical to provisions in HCS/SB 283 (2015) and HB 494 (2015) and similar to SB 675 (2014) and HB 1044 (2014).

The act also allows a political subdivision who is an employer under the Local Government Employees' Retirement System to elect by a majority vote of its governing body to cover under the retirement system jailers and emergency medical service personnel as policemen or firemen members of the system. If the election is made then the coverage provisions shall apply to past and future employment, and employer contributions shall change as of the date the election is made (70.600, 70.631).

The act states the an employee of St. Louis City who is earning creditable service in the City's retirement plan and is subsequently hired as a St. Louis City police officer may elect to stay a member of the City's retirement plan or elect to transfer membership and creditable service to the Police Retirement System of St. Louis (86.207).

This provision is identical to language contained in HB 515 (2015) and similar to HB 1272 (2015).

JESSI BAKER


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