HB205--THEFIREFIGHTERS'RETIREMENTSYSTEMOFST.LOUISCITY
(Hinman)
COMMITTEEOFORIGIN:StandingCommitteeonPensions
ThisbillspecifiesthattheBoardofTrusteesoftheFirefighters'
RetirementSystemofSt.Louiswillnotbepreventedfrom
simultaneously actingasthetrusteesofanyotherpensionplan
thatprovidesretirement,disability,anddeathbenefitsfor
firefightersemployedbySt.LouisCity.
Additionally,theadministration ofanyotherpensionplanincludes
theabilityoftheBoardtoestablishrulesandregulationsforthe
administration ofthefundsandforthetransactionofsuchother
pensionplan'sbusiness. TheBoardmustmaintainseparaterecords
ofallproceedingsofsuchotherpensionplan.
Furthermore,thisbillspecifiesthattheBoardofTrusteeswill
havetheauthorityanddiscretiontoinvestandreinvestfundsof
theotherpensionplaninpropertyofanykind,realorpersonal.
TheBoardmaychoosetoinvestthefundsoftheFirefighter's
RetirementSystemofSt.Louisandthefundsoftheotherpension
planinthesameinvestmentsiftheamountsinvestedandthegains,
profits,orlossesareaccountedforseparately. Nobenefitsdue
fromtheotherpensionplanwillbepaidfromthefundsofthe
Firefighter'sRetirementSystem.
Additionally,thisbillprovidesthatnoexpensesincurredbythe
Boardintheadministration ofanyotherpensionplanorinthe
investmentofanyotherpensionplan'sfundswillbepaidbythe
fundsoftheFirefighter'sRetirementSystem.
ThisbillisthesameasHB1980(2024)