HB 319 -- FIREMEN'S RETIREMENT SYSTEM OF ST. LOUIS (Villa)

COMMITTEE OF ORIGIN:  Special Committee on Retirement

This bill changes the laws regarding the Firemen's Retirement
System of St. Louis.  In its main provisions, the bill:

(1)  Changes the method of calculating the actuarial value of
retirement benefits by using the entry age normal funding method
and removing the frozen initial liability;

(2)  Allows the board of trustees of the retirement system to
retain a legal advisor and consultant other than the city
counselor;

(3)  Allows the beneficiary of a member who dies, while actively
employed and participating in the Deferred Retirement Option Plan
(DROP), to choose a lump sum payment or a periodic payment; and

(4)  Allows members retiring due to accidental disability, who
are participating or have participated in the DROP, to receive
their monthly retirement benefit, the DROP accumulation, and any
other authorized benefits.

FISCAL NOTE:  No impact on state funds in FY 2008, FY 2009, and
FY 2010.

Missouri House of Representatives
94th General Assembly, 1st Regular Session
Last Updated July 25, 2007 at 11:18 am