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SB 647 - Currently, neither the General Assembly nor the governing body of a county shall appropriate funds for deposit in the Sheriffs' Retirement Fund. This act provides that the General Assembly and the governing body of a county may appropriate funds for deposit in the Sheriffs' Retirement Fund. Additionally, the Board of the Sheriffs' Retirement System may accept gifts, donations, grants, and bequests from public or private sources for the Fund. Furthermore, this act provides that each person who becomes a member of the Sheriffs' Retirement System on or after January 1, 2024, shall be required to contribute five percent of his or her pay. Each county shall make the payroll deductions for member contributions from the same source of funds used for payment of compensation to the members and shall transmit such moneys to the Board for deposit in the Sheriffs' Retirement Fund. The deductions shall not reduce the member's pay for purposes of computing benefits. When paid to the Sheriffs' Retirement System, each of the contributions shall be credited to the member from whose compensation the contributions were deducted. Additionally, the contributions shall be treated as employer contributions for purposes of federal income tax purposes. A former member who is not vested may request a refund of his or her contributions, which shall be paid after 90 days from the later of the date of termination or the date of request. Additionally, beneficiaries of any member who made contributions shall receive a refund equal to the amount of any contributions less any retirement benefits, or annuity if one is payable to a survivor or beneficiary as a result of the member's death. This act also provides that the normal annuity provided to a retired member of the Sheriffs' Retirement System shall not be less than $1,000 per month. Finally, this act repeals the current $3 court filing surcharge that funded the Sheriffs' Retirement Fund along with the requirements for county or City of St. Louis participation in the funding mechanism and for a summary of all surcharges collected for the Sheriffs' Retirement Fund prepared by the circuit clerk. This act is similar to provisions in the truly agreed to and finally passed CCS/SB 20 (2023), in the truly agreed to and finally passed HCS/SS/SB 75 (2023), in HCS/SS/SCS/SBs 119 & 120 (2023), the perfected HCS/HB 155 (2023), in the truly agreed to and finally passed CCS/HCS/SB 186 (2023), SS/SCS/HCS/HB 301 (2023), SCS/HCS/HB 934 (2023), SB 1054 (2022), and HB 2681 (2022). KATIE O'BRIEN
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