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Bills to raise employer contribution aim to stabilize St. Louis public‑school pension fund
Summary
House Bill 404 (and companion/related language) would raise employer contributions to the St. Louis public‑school pension system to 14% in order to improve funding levels; trustees and school officials testified the change is aimed at removing the system from a watch list and restoring long‑term funding stability.
Representatives Doug Clemens and Barry Hovis presented House Bill 404 (combined with related language in HB1504 for committee consideration), proposing a statutory increase in the employer contribution rate to the retirement system that serves St. Louis public‑school employees and participating charter schools.
Why it matters: Witnesses testified the St. Louis system has declined in funded ratio since changes enacted in 2017 and is on a joint committee watch list. Sponsors and system representatives said increasing the employer contribution to 14% and holding it there would materially improve the system’s projected funding trajectory and shorten the time until the system becomes sufficiently funded to consider a cost‑of‑living adjustment for…
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