COMMITTEE ON LEGISLATIVE RESEARCH
OVERSIGHT DIVISION
FISCAL NOTE
L.R. No.:0295H.01I Bill No.:HB 147 Subject:Retirement - Local Government; Retirement Systems and Benefits - General;
Cities, Towns, and Villages; Law Enforcement Officers and Agencies; Salaries
Type:Original Date:January 29, 2025Bill Summary:This proposal modifies the definition of "earnable compensation" for the
Police Retirement System of the City of St. Louis.
FISCAL SUMMARY
ESTIMATED NET EFFECT ON GENERAL REVENUE FUNDFUND AFFECTEDFY 2026FY 2027FY 2028Total Estimated Net
Effect on General
Revenue $0$0$0
ESTIMATED NET EFFECT ON OTHER STATE FUNDSFUND AFFECTEDFY 2026FY 2027FY 2028Total Estimated Net
Effect on Other State
Funds $0$0$0
Numbers within parentheses: () indicate costs or losses. L.R. No. 0295H.01I
Bill No. HB 147
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ESTIMATED NET EFFECT ON FEDERAL FUNDSFUND AFFECTEDFY 2026FY 2027FY 2028Total Estimated Net
Effect on All Federal
Funds $0$0$0
ESTIMATED NET EFFECT ON FULL TIME EQUIVALENT (FTE)FUND AFFECTEDFY 2026FY 2027FY 2028Total Estimated Net
Effect on FTE 000
☐ Estimated Net Effect (expenditures or reduced revenues) expected to exceed $250,000 in any
of the three fiscal years after implementation of the act or at full implementation of the act.
☐ Estimated Net Effect (savings or increased revenues) expected to exceed $250,000 in any of
the three fiscal years after implementation of the act or at full implementation of the act.
ESTIMATED NET EFFECT ON LOCAL FUNDSFUND AFFECTEDFY 2026FY 2027FY 2028Local Government$0$0$0 L.R. No. 0295H.01I
Bill No. HB 147
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FISCAL ANALYSIS
ASSUMPTION
Section 86.200 – Earnable Compensation – Police Retirement System of the City of St. Louis
Officials from the Joint Committee on Public Employee Retirement (JCPER) state the
JCPER’s review indicates that its provisions may constitute a “substantial proposed change” in
future plan benefits as defined in section 105.660(10). It is impossible to accurately determine
the fiscal impact of this legislation without an actuarial cost statement prepared in accordance
with section 105.665. Pursuant to section 105.670, an actuarial cost statement must be filed with
the Chief Clerk of the House of Representatives, the Secretary of the Senate, and the Joint
Committee on Public Employee Retirement as public information for at least five legislative
days prior to final passage.
Officials from the Police Retirement System of City of St. Louis and the City of St. Louis did
not respond to Oversight’s request for fiscal impact for this proposal.
Oversight assumes this proposal would have an impact on the Police Retirement System of the
City of St. Louis. However, Oversight assumes the impact would be minimal and would not
translate into a change in employer contributions for the retirement system (paid by the City of
St. Louis). Therefore, Oversight will reflect a zero impact on the fiscal note for the City of St.
Louis.
Oversight has presented this fiscal note on the best current information that we have. Upon the
receipt of additional responses, Oversight will review to determine if an updated fiscal note
should be prepared and seek the necessary approval to publish a new fiscal note.
FISCAL IMPACT – State GovernmentFY 2026
(10 Mo.)
FY 2027FY 2028$0$0$0FISCAL IMPACT – Local GovernmentFY 2026
(10 Mo.)
FY 2027FY 2028$0$0$0 L.R. No. 0295H.01I
Bill No. HB 147
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FISCAL IMPACT – Small Business
No direct fiscal impact to small businesses would be expected as a result of this proposal.
FISCAL DESCRIPTION
The proposed legislation appears to have no direct fiscal impact.
This legislation is not federally mandated, would not duplicate any other program and would not
require additional capital improvements or rental space.
SOURCES OF INFORMATION
Joint Committee on Public Employee Retirement
Julie MorffJessica HarrisDirectorAssistant DirectorJanuary 29, 2025January 29, 2025