|HB 0278||Relating to Funding to County Employees' Retirement System|
|Sponsor:||MONTGOMERY||Handling House Bill:|
|Last Action:||01/24/95 - Referred H Retirement Committee|
HB0278 Montgomery, Jim
P R E F I L E D
HB 278 -- County Retirement Fund
This bill increases the monthly payroll deduction that will be deposited into the county employees' retirement fund from 2% to 4% of the compensation of all qualifying county officers and employees, with the exception of county prosecuting attorneys, circuit clerks, deputy circuit clerks, and county sheriffs who are covered by other retirement plans. In addition, the county will appropriate from the county general revenue fund to the county employees' retirement fund an amount equal to 2% of the compensation of each contributing employee covered by the county employees' retirement system. These changes do not apply to Jackson County, St. Louis County, or the City of St. Louis.
This bill also repeals merchant license fees that benefit county employees' retirement funds. Currently, in Chapter 150 RSMo, there are two sections 150.150. This change removes one of these sections.