HB 927 -- Police Retirement System of St. Louis

Sponsor:  Colona

Beginning August 28, 2009, this bill allows any member of the
Police Retirement System of St. Louis who has accumulated up to
30 years of creditable service to use accumulated sick leave for
vesting purposes or for the Deferred Retirement Option Plan
(DROP).  For members participating in the DROP, the member can
have placed in his or her DROP account a dollar amount equal to
his or her accumulated number of sick leave hours multiplied by
his or her hourly rate of pay at the time of retirement or a
member has the option to place one-half of this dollar amount in
his or her account, to have one-fourth of the amount added to his
or her average final compensation, and to have the remaining
one-fourth of this dollar amount remain as time and added to his
or her creditable service.

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