HB 195 -- Kansas City Police Retirement System

Co-Sponsors:  Curls, Johnson (47), Jolly, Wilson (42), Campbell,
Lowe, Walker

This bill revises provisions pertaining to the Kansas City Police
Retirement System.

The bill:

(1)  Authorizes any member who retired prior to August 28, 2000,
and any member whose pension is payable due to disability and who
retired after August 28, 2000, but before August 28, 2001, to
receive an equalizing cost-of-living adjustment (COLA) not to
exceed an aggregate amount of 25% of the member's base pension.
A member is not prohibited from receiving a base pension and
legally authorized cost-of-living adjustments;

(2)  Requires the equalizing adjustment to be computed each year
on the base pension.  The cumulative amount of the adjustment is
prohibited from exceeding 25% of the member's base pension;

(3)  Requires the Retirement Board to base its determination to
grant the equalizing adjustment on the advice of the plan's
actuary in order to maintain the solvency of the trust fund
assets used for the retirement system;

(4)  Specifies the effective date of the equalizing adjustment;
and

(5)  Defines the terms "member" and "base pension" and applies
the terms to the new provisions contained in the bill.

Missouri House of Representatives
Last Updated July 25, 2003 at 10:11 am