HB 2144 -- St. Louis City Police Retirement Systems

Sponsor:  O'Toole

This bill makes several changes regarding the St. Louis City
police retirement systems.  The bill:

(1)  Allows a member elected as chairman of the board of trustees
to serve without limit;

(2)  Restricts board travel time, with compensation, to 30 days
in any board fiscal year;

(3)  Clarifies the amount of service used in calculating
survivors' benefits for members with less than two years of
service in the deferred retirement option plan (DROP);

(4)  Allows for transportation fringe benefits to be included in
the definition of earned compensation;

(5)  Clarifies when interest is to be added to a DROP
distribution;

(6)  Allows a surviving spouse to receive a cost-of-living
allowance (COLA); and

(7)  Changes the qualifications and calculation of the COLA for
members from the current annual 3% with a maximum of 30%.  The
bill gives members having less than 25 years of service a 1%
increase; members with 25 to 30 years of service a 2% increase;
and members with more than 30 years of service a 3% increase.
All COLAs are subject to a 30% maximum.

Under current law, the ad hoc COLA for retired members is $10
times each year after age 60.  The bill clarifies that a member
cannot receive both COLAs, but can receive the higher of the two,
subject to a 30% maximum.

Missouri House of Representatives
Last Updated October 11, 2002 at 9:03 am