SB 647 - Currently, neither the General Assembly nor the governing body of a county shall appropriate funds for deposit in the Sheriffs' Retirement Fund. This act provides that the General Assembly and the governing body of a county may appropriate funds for deposit in the Sheriffs' Retirement Fund. Additionally, the Board of the Sheriffs' Retirement System may accept gifts, donations, grants, and bequests from public or private sources for the Fund. Furthermore, this act provides that each person who becomes a member of the Sheriffs' Retirement System on or after January 1, 2024, shall be required to contribute 5 percent of his or her pay. A former member who is not vested may request a refund of his or her contributions, which shall be paid after 90 days from the later of the date of termination or the date of request. Additionally, beneficiaries of any member who made contributions shall receive a refund equal to the amount of any contributions less any retirement benefits, or annuity if one is payable to a survivor or beneficiary as a result of the member's death. This act also provides that the normal annuity provided to a retired member of the Sheriffs' Retirement System shall not be less than $1,000 per month.
Finally, this act repeals the current $3 court filing surcharge that funded the Sheriffs' Retirement Fund along with the requirements for county or City of St. Louis participation in the funding mechanism and for a summary of all surcharges collected for the Sheriffs' Retirement Fund prepared by the circuit clerk.
This act is similar to HB 934 (2023), SB 1054 (2022), and HB 2681 (2022).
KATIE O'BRIEN