MO HB1272

Employees of the City of St. Louis retirement system who are transferred to the St. Louis Metropolitan Police Department must elect within 90 days to either remain in the city employees retirement system or transfer to the police retirement system

Elections are irrevocable and require employees to receive a detailed comparison of retirement, life insurance, disability, and medical benefits between the two systems before deciding

When an employee elects to transfer to the police retirement system, the city employees retirement system must pay an actuarially determined amount equal to the funded liability within 60 days

City employees who become policemen in any city not within a county may elect to remain in their original retirement plan rather than being required to join the police retirement system

The bill includes an emergency clause for immediate effect upon passage and requires approval by the St. Louis Board of Aldermen before taking effect