SB 273 – Modifies provision of the Firemen's Retirement System of St. Louis

• Sponsor: Lembke
• LR Number: 0566S.02I
• Committee: Veterans' Affairs, Emerging Issues, Pensions and Urban Affairs
• Last Action: 2/17/2011 - Second Read and Referred S Veterans' Affairs, Emerging Issues, Pensions and Urban Affairs Committee
• Journal Page: S285
• Effective Date: August 28, 2011

Current Bill Summary

SB 273 - This act modifies certain provisions of the Firemen's Retirement System of St. Louis.

The act specifies that the retirement plan is intended to be a qualified governmental plan under federal tax law. The benefits and conditions of the plan shall be interpreted and the system shall be operated to ensure that the system meets the federal qualification requirements.

This act also changes the method the system's actuaries use to determine the amount of the contribution required from the city each year from the current frozen initial liability method to the entry age normal method.

EMILY KALMER