HB 593 -- POLICE AND FIREMEN'S PENSION SYSTEM INVESTMENTS

SPONSOR:  Viebrock

COMMITTEE ACTION:  Voted "do pass by consent" by the Committee on
Retirement by a vote of 11 to 0.

Currently, investments made by boards of trustees of police and
firemen's pension systems are subject to all terms, conditions,
limitations, and restrictions imposed upon life insurance or
casualty companies in making their investments.  This bill
removes those terms, conditions, limitations, and restrictions
and requires the boards to invest the funds of the system as
permitted in Sections 105.687 - 105.690, RSMo, regarding the
duties of investment fiduciaries.

FISCAL NOTE:  No impact on state funds in FY 2010, FY 2011, and
FY 2012.

PROPONENTS:  Supporters say that the bill will allow the Joplin
Police and Fire Retirement System to expand its investment
options.

Testifying for the bill was Representative Viebrock.

OPPONENTS:  There was no opposition voiced to the committee.

Missouri House of Representatives
95th General Assembly, 1st Regular Session
Last Updated November 17, 2009 at 9:25 am