HB 1218 -- KANSAS CITY POLICE RETIREMENT SYSTEM

SPONSOR:  Johnson (47)

COMMITTEE ACTION:  Voted "do pass" by the Committee on Retirement
by a vote of 12 to 0.

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 not to exceed an
aggregate amount for all years of 5% 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.  Any increase in the amount of the
adjustment will be determined by the retirement board;

(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.

FISCAL NOTE:  No impact on state funds in FY 2005, FY 2006, and
FY 2007.

PROPONENTS:  Supporters say that subject to board approval, the
bill will allow retired police officers of the Kansas City Police
Department to receive an equalizing cost-of-living adjustment not
to exceed 5% of their base pension each year beginning August 29,
2004.  Police officers in Kansas City are not covered by the
Social Security system, and the adjustment will help offset their
expenses.

Testifying for the bill were Representative Smith (118) for
Representative Johnson (47); and Kansas City Police Retirement
System.

OPPONENTS:  There was no opposition voiced to the committee.

Joseph Deering, Legislative Analyst

Missouri House of Representatives
92nd General Assembly, 2nd Regular Session
Last Updated September 23, 2004 at 11:15 am