MO HB2550

Amends Section 169.471, RSMo to establish mandatory cost-of-living adjustments (COLAs) for St. Louis public school retirement system members beginning August 28, 2016

Requires a 2% retirement allowance increase when cost of living rises 2% or more in the preceding fiscal year, and a 5% increase when cost of living rises 5% or more

Caps total cumulative COLA increases at 80% of the retirement allowance established at retirement

Limits annual increases to a maximum of 5% per year, with no increase granted in years when cost of living decreases

Removes cost-of-living adjustments from the board of trustees' discretionary authority and makes them mandatory when inflation thresholds are met