| HB 0161 | Estab. Benefit Incr. Fund For Police Retirement in St. Louis |
| Sponsor: | O'NEILL | Handling House Bill: | CLAY |
| Committee: | CORR | LR Number: | S0718.03C |
| Last Action: | 05/15/95 - 026 S Calendar H Bills for Third Reading w/SCS | ||
| Title: | SCS/HB 161 | ||
| Effective Date: | August 28, 1995 | ||
SCS/HB 161 - This act increases the funds in the St. Louis police retirement system by adding the Benefit Increase Fund. The Benefit Increase fund may transfer money to the Member's Savings fund, the Benefit Reserve fund or the General Reserve fund of the St. Louis police retirement system. If the Board of Trustees determines that the Member's Savings fund balance is greater than amount required to actuarially fund the system, the board may transfer up to 50% of the excess to the Benefit Increase fund.
The act also provides that each public retirement plan as
defined in section 105.660, RSMo, through its Board of Trustees
or other responsible administrative body is authorized to appoint
an attorney or a firm of attorneys to be the legal advisor for
the plan.
TOM MORTON