HCS HB 2056 -- PUBLIC SCHOOL RETIREMENT SYSTEMS

SPONSOR:  Wallace (Viebrock)

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

This substitute allows the board of the Public School Retirement
System of Missouri and the Public Education Employee Retirement
System of Missouri to maintain an investment fund account to
combine moneys from both systems for investment purposes only.
The funds of each system will be accounted for separately and for
all other reporting purposes will be separate.

FISCAL NOTE:  No impact on state funds in FY 2009, FY 2010, and
FY 2011.

PROPONENTS:  Supporters say that the bill will allow the
retirement systems to combine their funds for investment purposes
and to work under one contract which will save money.

Testifying for the bill were Representative Viebrock; Public
School Retirement System of Missouri; and Public Education
Employee Retirement System of Missouri.

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