| SB 1225 | Increases the maximum allowable compensation for St. Louis police officers |
| Sponsor: | Dougherty | Co-Sponsor(s) | ||
| LR Number: | 4398L.03C | Fiscal Note: | 4398-03 | |
| Committee: | Economic Development, Tourism & Local Government | |||
| Last Action: | 05/14/04 - H Calendar S Bills for Third Reading w/HCS | Journal page: | ||
| Title: | HCS SCS SB 1225 | |||
| Effective Date: | August 28, 2004 | |||
HCS/SCS/SB 1225 - This act increases the maximum amount of compensation payable to St. Louis police officers by $1,500.
This act establishes that six trustees shall constitute a quorum for transacting business for the board of police commissioners.
This act establishes the "Police Chiefs' and Officers' Annuity Fund". A $7 surcharge will be collected in all criminal cases to be deposited into the fund and the board may accept gifts, donations, grants, and bequests. The Board of Directors is responsible for the administration of the fund. Three of the members will be members of the Police Chiefs' Association, three will be police officers, and one must be a member of the House Committee on Retirement. The directors will be chosen for four year terms. The first board will be appointed by the Governor with the advice and consent of the Senate. The act provides the procedure by which the directors will be elected and begin their terms of office.
The board will retain an actuary as a technical advisor and an investment counsel to be an investment advisor to the board. There shall be annual audits and the board must keep records of its proceedings for public inspection.
Upon being employed as a marshal, chief of police, police officer, or deputy sheriff, the individual will be a member of the system and pay the first monthly contribution payment of $20.
The act states which members may receive a normal annuity. The normal annuity of a member shall be $500 per month for a benefit period of 5 years. No member can receive benefits prior to age 55.
Any eligible police chief, officer, or deputy sheriff who becomes a member of the system will be given credit for eligible prior service up to fifteen years.
A death benefit of $10,000 will be paid to the designated beneficiary upon death of the member or to his or her estate if the member is killed in the line of duty.
A former member may have forfeited creditable service restored by becoming an employee and completing creditable membership service.
The benefits provided herein will not affect a person's
eligibility for retirement benefits under LAGERS.
SUSAN HENDERSON