SB 1146 – Allows the board of trustees of the Public School Retirement System of the City of St. Louis to provide cost-of-living increases

• Sponsor: Nasheed
• LR Number: 6734S.01I
• Committee: General Laws and Pensions
• Last Action: 3/15/2016 - Hearing Conducted S General Laws and Pensions Committee
• Effective Date: August 28, 2016

Current Bill Summary

SB 1146 - This act allows the board of trustees of the Public School Retirement System of the City of St. Louis to provide cost-of-living increases to retirement allowances. If the cost-of-living increases by at least two percent, the retirement allowance shall be increase by two percent. If the cost-of-living increases by at least five percent, the retirement allowance shall be increase by five percent. The cost-of-living increase shall not exceed five percent in a given year, and the total amount of increases shall not exceed eighty percent of the member's retirement allowance established at the time of retirement.

This act is substantially similar to HB 2550 (2016).

JOSHUA NORBERG