MO HB1899

Establishes a Police Chiefs' and Officers' Retirement Fund managed by a five-member board of directors (three police chiefs and two officers elected by their respective groups) to provide retirement benefits to eligible municipal police officers and chiefs.

Funds the system through a $2 surcharge on all criminal cases filed in Missouri state and municipal courts, with exceptions when costs are waived or cases are dismissed, beginning August 28, 2010.

Provides eligible members age 55 with 15+ years of service or age 62 with 10+ years of service the ability to retire with a normal annuity of $1,000 per month, with payments discretionary based on available funds.

Members with 10+ years of creditable service receive vesting rights and deferred retirement benefits; those with less than 10 years forfeit all retirement rights upon termination.

Excludes police officers from cities not within a county or home rule cities with more than 400,000 inhabitants in multiple counties; retirement benefits remain exempt from state and local taxes and cannot be garnished, attached, or assigned.