Bill > HB147

This bill makes comprehensive changes to various retirement systems and provisions for law enforcement and public employees in Missouri. Key provisions include: Increasing retirement contributions for sheriffs from 5% to potentially higher percentages, establishing new funding mechanisms for sheriffs' retirement funds such as a per-diem payment from the department of corrections, and modifying retirement benefit calculation formulas. The bill also introduces new investment guidelines for retirement system boards, requiring them to prioritize economic interests and prohibiting investments in certain entities associated with the People's Republic of China. Additionally, the bill adjusts retirement system governance by expanding board membership in some systems, such as adding two trustees from the Missouri Public Charter School Association to the public school retirement system board. The legislation also sets age limits for law enforcement officers, generally requiring separation from service by age 65 or after 35 years of creditable service. The bill repeals and replaces multiple existing statutes related to retirement systems, suggesting a comprehensive overhaul of retirement regulations for public employees in Missouri, with particular focus on sheriffs, police officers, firefighters, and public school employees.

Budget and Finance, Government Affairs, Justice, Labor and Employment

https://house.mo.gov/Bill.aspx?bill=HB147&year=2025&code=R