COMMITTEE ON LEGISLATIVE RESEARCH
OVERSIGHT DIVISION
FISCAL NOTE
L.R. No.:1099H.01I Bill No.:HB 205 Subject:Retirement Systems and Benefits - General; Retirement - Local Government; Fire
Protection; Employees - Employers
Type:Original Date:February 19, 2025Bill Summary:This proposal allows the board of trustees of the Firemen’s Retirement
System of St. Louis City to act as trustees and administer other pension
plans.
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. 1099H.01I
Bill No. HB 205
Page 2 of
February 19, 2025
JLH:LR:OD
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. 1099H.01I
Bill No. HB 205
Page 3 of
February 19, 2025
JLH:LR:OD
FISCAL ANALYSIS
ASSUMPTION
Officials from the Joint Committee on Public Employee Retirement (JCPER) state the
review of HB 205 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 City of St. Louis state the proposed legislation would allow the trustees of the
Firemen's Retirement System (FRS, a plan that was frozen in 2013) to act as trustees of the
newer Firefighters' Retirement Plan (FRP) which originated in 2013 as part of a pension plan
reform effort to address rising costs partly due to failures under the old FRS board. The reform
was successful and has reduced pension costs which had been rising to an increasingly greater
proportion of operating costs of the Fire Department. The proposed legislation jeopardizes the
progress made through this reform effort.
Oversight notes this proposal allows the Board of the Firemen’s Retirement Plan of St. Louis to
act on behalf of all other city firefighter retirement plans in St. Louis City including the
Firefighter’s Retirement Plan of St. Louis.
Oversight assumes any decision by the Board to alter retirement benefits for the Firefighter’s
Retirement Plan of St. Louis would be an indirect impact. Therefore, Oversight will reflect a zero
impact in the fiscal note.
Oversight did not receive a response from the Firemen’s Retirement Plan of St. Louis or the
Firefighter’s Retirement Plan of St. Louis related to the fiscal impact of this proposal. Oversight
has presented this fiscal note on the best current information available. 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$0 L.R. No. 1099H.01I
Bill No. HB 205
Page 4 of
February 19, 2025
JLH:LR:OD
FISCAL IMPACT – Local GovernmentFY 2026
(10 Mo.)
FY 2027FY 2028$0$0$0
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
City of St. Louis
Julie MorffJessica HarrisDirectorAssistant DirectorFebruary 19, 2025February 19, 2025