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Legal counsel warns Missouri tax change could reduce local revenue and hit pension plans
Summary
Dan Schwartz of UBGreensfelder told the board pending Missouri legislation to eliminate the personal property tax could lower local government revenue and potentially negatively affect the pension plans; the board previously sent compliance letters regarding HB147.
Dan Schwartz, legal counsel with UBGreensfelder, briefed the board on a pending measure in the Missouri General Assembly that would eliminate the personal property tax. He reported that the proposed change "may cause a negative impact on the plans" by reducing local government revenue, and he noted the boards had forwarded letters on Dec. 10, 2025, to the Missouri General Assembly and the Joint Committee on Public Employee Retirement regarding HB147 compliance.
No specific revenue estimates or formal fiscal analyses were presented at the meeting. Board members and staff recorded the legal counsel's report for the record and the clerk noted the prior transmission of compliance letters to state lawmakers and the joint committee.
