HB 2055 -- POLICE AND FIREMEN'S PENSION SYSTEM INVESTMENTS

SPONSOR:  Viebrock

COMMITTEE ACTION:  Voted "do pass by consent" by the Special
Committee on Retirement by a vote of 6 to 0.

Currently, investments made by boards of trustees of police and
firemen's retirement 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 2009, FY 2010, and
FY 2011.

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

Testifying for the bill were Representative Viebrock; and
Missouri State Council of Firefighters.

OPPONENTS:  There was no opposition voiced to the committee.

Missouri House of Representatives
94th General Assembly, 2nd Regular Session
Last Updated October 15, 2008 at 3:11 pm