HB 2160 -- Police Chiefs' and Officers' Retirement

Co-Sponsors:  Britt, Kreider, Ross, McKenna, Green (15), Jolly,
Johnson (90), Hosmer, Dolan, Wagner, Boucher

This bill creates the Police Chiefs and Officers' Retirement
System and the Police Chiefs' and Officers' Retirement Fund.  The
bill outlines the qualifications, term of office, and duties of
the directors who will administer and invest the fund.  Funding
for the fund will come from a surcharge of 50 cents per month on
all automobile insurance polices.  The Department of Insurance is
required to collect the surcharge and disburse the surcharge to
the fund.  All persons employed full-time as elected marshals or
chiefs of police, all appointed police chiefs, and municipal
police officers, except police chiefs and officers in St. Louis
and Kansas City, are members of the system.  A member is eligible
for benefits at age 55 with 15 years of service or at age 62 with
10 years of service.  A normal annuity of a retired member is
$1,000 per month or $12,000 per year.  In addition, a member may
receive up to $450 for medical insurance premiums.  Any eligible
member who becomes a member of the system on the effective date
of the establishment of the system will be given credit for five
years if the member is 45 years old.  The bill allows for a
deferred annuity for certain eligible members.

The bill also allows for a death benefit of $10,000 to be paid to
the designated beneficiary of every active member upon his or her
death.  No benefits will be paid from this system until four
years after the effective date of the bill.  The bill outlines
other technical aspects of the system.

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