Missouri 2023 Regular Session

Missouri Senate Bill SB75

Introduced
1/4/23  
Refer
1/12/23  
Engrossed
2/23/23  
Refer
3/28/23  
Report Pass
4/11/23  
Refer
4/12/23  
Report Pass
4/17/23  
Engrossed
5/9/23  
Enrolled
5/9/23  

Caption

Modifies provisions relating to retirement systems

Impact

The implications of this bill are substantial, as it seeks to modify the structure of retirement benefits for sheriffs and other law enforcement officers. By shifting towards a fund that relies on member contributions and private donations instead of state funding, the bill creates a potential shift in how public safety pensions are managed and sustained. This change could lead to better financial stability for these retirement funds in the long term, as well as potentially more predictable benefits for retiring employees.

Summary

Senate Bill 75 proposes significant changes to the retirement systems for various public employees in Missouri, particularly focused on law enforcement and public safety personnel. The bill aims to repeal multiple existing statutes and replace them with new provisions that address retirement benefits, contribution requirements, and other related matters. Notably, this legislation intends to establish a 'Sheriffs' Retirement Fund', which would be managed by a dedicated board, and emphasizes a self-sustaining model funded primarily through contributions rather than state appropriations.

Contention

Key points of contention surrounding SB75 stem from concerns about the adequacy of retirement benefits given the nature of police work, which can be physically and mentally demanding. Some opponents argue that the proposed changes may not sufficiently address the needs of retired law enforcement officers, particularly regarding their financial security after retirement. Additionally, questions arise regarding the requirement for consistent contributions from sheriffs and whether this could affect recruitment and retention within law enforcement, potentially exacerbating existing staffing shortages.

Companion Bills

No companion bills found.

Previously Filed As

MO SB20

Modifies provisions relating to retirement

MO SB407

Modifies provisions relating to Missouri Department of Transportation and Highway Patrol Employees' Retirement System and Missouri State Employees' Retirement System

MO SB647

Modifies provisions relating to the Sheriffs' Retirement System

MO HB155

Establishes provisions relating to workplace retirement savings plans

MO SB141

Modifies provisions relating to the Sheriffs' Retirement System

MO SB1054

Modifies provisions relating to the funding of the Sheriffs' Retirement System

MO HB2234

Modifies provisions relating to retirement systems

MO HB44

Modifies provisions relating to income tax deductions for private pensions

MO HB934

Modifies provisions relating to employee benefit plans

MO HB2799

Modifies provisions relating to retirement

Similar Bills

MO SB20

Modifies provisions relating to retirement

MO SB407

Modifies provisions relating to Missouri Department of Transportation and Highway Patrol Employees' Retirement System and Missouri State Employees' Retirement System

MO HB155

Establishes provisions relating to workplace retirement savings plans

MO SB247

Modifies provisions relating to taxation

MO SB1125

Creates new provisions relating to retirement savings plans for private-sector employees

MO SB1213

Creates new provisions relating to retirement savings plans for private-sector employees

MO HB1732

Establishes provisions relating to workplace retirement savings plans.

MO SB1161

Modifies provisions relating to savings accounts for education expenses