| HB 0328 | Relating to Certain Firemen's Retirement Systems |
| Sponsor: | AUER | Handling House Bill: | |
| Committee: | RETC | LR Number: | L0985.03I |
| Last Action: | 02/16/95 - Bill Combined w/HCS 260, 137 & 479 | ||
| Title: | HCS/HB 260, 137, 328 & 479 | ||
| Effective Date: | |||
HB0328 Auer, Ron O'Toole, James P
P R E F I L E D
HB 328 -- St. Louis Firemen's Retirement System
Co-Sponsors: Auer and O'Toole
This bill increases the mandatory retirement for St. Louis City firemen from an allowance of 70% to an allowance of 75% of their average final compensation. The service retirement allowance is the base 50% of the average final compensation, plus an amount which increases from 4% to 5% of the average final compensation for each additional year of service beyond 25 years. However, no service retirement allowance can exceed 75% of final compensation. A member may exceed 75% of the service retirement allowance with the accumulated sick leave to no more than 30 years of creditable service.