MO HB1301

Repeals and reenacts sections 86.900 and 86.1220 of Missouri Revised Statutes relating to Kansas City police retirement systems.

Establishes definitions for retirement system terms including "Tier I members" (those who became members before August 28, 2013) and "Tier II members" (those who became members on or after August 28, 2013).

Provides cost-of-living adjustments (COLA) up to 3 percent annually for Tier I retired members and surviving spouses, provided the retirement system remains actuarially sound.

Establishes eligibility timelines for Tier II members to receive cost-of-living adjustments based on years of creditable service and retirement circumstances, ranging from immediately upon retirement to five years after retirement.

Allows surviving spouses and children of deceased members to receive cost-of-living adjustments equal to those received by the deceased member during their lifetime, with specific exceptions for certain benefit calculations.