HB 458 -- Police Chiefs' and Officers' Annuity Fund

Sponsor:  Rupp

This bill creates the Police Chiefs' and Officers' Annuity Fund.
The annuity will be funded by member contributions of $20 per
month and a $7 surcharge in all criminal cases, including
infractions and ordinances.  This surcharge will not be assessed
when the costs are waived or are paid by the state, county, or
municipality.  A six-member board of police officers and police
chiefs will oversee the fund; hire an executive director; and
contract for the services of an actuary, investment counsel, and
certified public accountant.

The fund will make monthly payments of $500 for five years to
eligible members.  The bill specifies the terms of eligibility
and how creditable service is determined.  Eligible members can
start drawing the annuity five years after its creation.

An eligible member's estate or designated beneficiary is allowed
to receive a death benefit of $10,000 upon the death of the
eligible member.

Missouri House of Representatives
93rd General Assembly, 1st Regular Session
Last Updated August 25, 2005 at 1:19 pm