| SB 0350 | Establishes a member's bonus fund within the St. Louis Police Retirement System |
| Sponsor: | Clay | |||
| LR Number: | S1606.01I | Fiscal Note: | 1606-01 | |
| Committee: | Pensions and General Laws | |||
| Last Action: | 02/16/99 - Hearing Conducted S Pensions & General Laws Committee | Journal page: | ||
| Title: | ||||
| Effective Date: | August 28, 1999 | |||
SB 350 - This act provides a bonus, or "13th check" to
members, surviving spouses and dependents of the St. Louis Police
Retirement System, if there is enough in the member's bonus fund
to allow for such bonus. Moneys are transferred into the bonus
fund if the Board of Trustees determines that the balance in the
five funds (members' savings fund, benefit reserve fund, general
reserve fund, expense fund and member's bonus fund) exceeds the
amount needed actuarially to fund the system. The bonus check
would be provided in December of the year in which the Board
decides to provide a bonus.
MARGARET J. TOALSON