HB 0161 Estab. Benefit Incr. Fund For Police Retirement in St. Louis
Sponsor:O'NEILL Handling House Bill:CLAY
Committee:CORR LR Number:S0718.03C
Last Action:05/15/95 - 026 S Calendar H Bills for Third Reading w/SCS
Title:SCS/HB 161
Effective Date:August 28, 1995
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Current Bill Summary

SCS/HB 161 - This act increases the funds in the St. Louis police retirement system by adding the Benefit Increase Fund. The Benefit Increase fund may transfer money to the Member's Savings fund, the Benefit Reserve fund or the General Reserve fund of the St. Louis police retirement system. If the Board of Trustees determines that the Member's Savings fund balance is greater than amount required to actuarially fund the system, the board may transfer up to 50% of the excess to the Benefit Increase fund.

The act also provides that each public retirement plan as defined in section 105.660, RSMo, through its Board of Trustees or other responsible administrative body is authorized to appoint an attorney or a firm of attorneys to be the legal advisor for the plan.