Read 1st time January 27, 2000, and 1000 copies ordered printed.
Read 2nd time January 31, 2000, and referred to the Committee on Retirement, February 10, 2000.
Reported from the Committee on Retirement, March 1, 2000, with recommendation that the bill Do Pass by Consent.
Perfected by Consent March 9, 2000.
ANNE C. WALKER, Chief Clerk
To repeal sections 87.120 and 87.176, RSMo 1994, relating to firemen's retirement and relief systems, and to enact in lieu thereof one new section relating to the same subject.
Section A. Sections 87.120 and 87.176, RSMo 1994, are repealed and one new section enacted in lieu thereof, to be known as section 87.120, to read as follows:
87.120. The following words and phrases as used in sections 87.120 to 87.370, unless a different meaning is plainly required by the context, have the following meanings:
(1) "Accumulated contributions", the sum of all amounts deducted from the compensation of a member and credited to his individual account in the members' savings fund together with interest thereon;
(2) "Actuarial equivalent", a benefit of equal value when computed upon the basis of such mortality tables and interest rate as shall be adopted by the board of trustees;
(3) "Average final compensation", the average earnable compensation of the member during his last two years of service as a fireman, or if he has less than two years of service, then the average earnable compensation of his entire period of service;
(4) "Beneficiary", any person in receipt of a retirement allowance or other benefit as provided by sections 87.120 to 87.370;
(5) "Benefit reserve", the present value of all payments to be made on account of any retirement allowance or benefit in lieu of a retirement allowance upon the basis of such mortality tables and interest rate as shall be adopted by the board of trustees;
(6) "Board of trustees", the board provided for in section 87.140 to administer the retirement system;
(7) "City", any city [of six hundred thousand inhabitants or more] not within a county and adopting the retirement system provided by sections 87.120 to 87.370;
(8) "Creditable service", prior service plus membership service as provided in section 87.135;
(9) "DROP", the deferred retirement option plan provided in section 87.182;
(10) "Earnable compensation", the regular compensation which a member would earn during one year on the basis of the stated compensation for his rank or position;
(11) "Fireman", any officer or employee of the fire department of the city employed by the city for the duty of fighting fires, but does not include anyone employed in a clerical or other capacity not involving firefighting duties. In case of doubt as to whether any person is a fireman within the meaning of sections 87.120 to 87.370, the decision of the board of trustees shall be final;
(12) "Medical board", the board of physicians provided for in section 87.160;
(13) "Member", a member of the retirement system as defined by section 87.130;
(14) "Membership service", service as a fireman rendered since last becoming a member;
(15) "Prior service", all service as a fireman rendered prior to the date the system becomes operative which is creditable in accordance with the provisions of section 87.135;
(16) "Retirement allowance", annual payments for life which shall be payable in equal monthly installments or any benefits in lieu thereof granted to a member upon retirement or to a beneficiary;
(17) "Retirement system", the firemen's retirement system of any city as defined in section 87.125;
(18) "Widow", the surviving spouse of a member.
[87.176. 1. In addition to any other annuity or retirement allowance paid or payable under sections 87.120 to 87.370, any retirant who is receiving benefits as a result of retirement prior to October 1, 1982, and any member of the system who ceased to be a member prior to October 1, 1982, and has vested retirement benefits may, upon application to the firemen's retirement system, be made a special advisor to the retirement system. Upon the acceptance of such application, the retirant shall be repaid the total amount of the member's contribution to the system without interest. Upon the approval of this statute, the board of trustees of the system may establish a staggered system of processing qualified applicants, which staggered system of accepting and processing of applications shall not exceed three years to complete, and which staggered system shall be structured to address all classes of entitlement as set forth in this section. The staggered system of processing shall consider first those applicants having been retired from the system the longest period of time, and chronologically thereafter the next longest until the most recent retirants shall be considered, which most recent retirees within said staggered system shall be last entitled to have their applications for benefits considered.
2. Any refund of contributions paid under subsection 1 of this section shall be withdrawn from the general fund of the
firemen's retirement system and no moneys shall be withdrawn from the general revenue fund of the city.]
Missouri House of Representatives