Bill > SB141

This bill modifies provisions related to the Sheriffs' Retirement System in Missouri, making several key changes. It creates a new Deputy Sheriff Salary Supplementation Fund that will receive $15 from each service charge, with $10 going to the fund and $5 going to the Sheriffs' Retirement Fund. The bill establishes a mandatory 5% member contribution to the retirement system, which will be "picked up" by county employers, meaning the contribution will be made on behalf of the members and treated as an employer contribution for tax purposes. The bill also updates the retirement benefits, setting the normal annuity at 2% of the final average compensation multiplied by years of creditable service, with a maximum of 75% of average final compensation and a minimum monthly benefit of $1,000. Additionally, the bill allows the retirement system board to determine monthly medical insurance premium payments for retired members, not to exceed $450 per month. The legislation repeals some existing sections of law and consolidates various provisions related to sheriff retirement and compensation, streamlining the administrative framework for the Sheriffs' Retirement System.

Government Affairs

https://www.senate.mo.gov/25info/BTS_Web/Bill.aspx?SessionType=R&BillID=374