| SB 0523 | Changes in St. Louis City School Retirement |
| Sponsor: | CLAY | ||
| LR Number: | S2148.01P | Fiscal Note: | 2148-01 |
| Committee: | Education | ||
| Last Action: | 05/28/96 - S Inf Calendar S Bills for Third Reading | ||
| Title: | |||
| Effective Date: | August 28, 1996 | ||
SB 523 - This act makes several changes to statutes pertaining to the St. Louis Teachers Retirement System.
Any member currently retired or who will retire in the future may apply to the Board of Trustees to be appointed a special consultant on retirement problems and aging. Such members will receive an increase in retirement compensation calculated as set out in Section 169.471 of SB 523.
The act also changes the status of the elected investment advisor on the Board of Trustees from voting to nonvoting.
Finally, the act increases from 1-1/4 to 1-1/2 the
percentage of a member s final average salary which is used in
retirement benefit calculations.
OTTO FAJEN