Bill > SB255

This bill allows the Board of Trustees of the Firemen's Retirement System of St. Louis to simultaneously act as trustees and administer additional pension plans for firefighters in cities not within a county, while maintaining clear financial separation between the plans. The bill specifies that the board can establish rules, keep separate records, and invest funds for these additional pension plans, but with important restrictions: no expenses from the other pension plans can be paid from the original retirement system's funds, and no benefits from the other plans can be paid from the original system's funds. The board's composition remains the same, with nine trustees including ex officio members, mayoral appointees, and elected members from active and retired firefighters. Trustees will continue to serve without compensation but can be reimbursed for necessary expenses, and they must take an oath of office and adhere to existing legal requirements. The bill ensures transparency by requiring annual financial reports and maintaining public records of proceedings, while providing flexibility for the board to manage multiple pension plans with proper oversight and accounting.

Government Affairs

https://www.senate.mo.gov/25info/BTS_Web/Bill.aspx?SessionType=R&BillID=92