Board Bills

2023-2024 Board Bill 74 — Employees Retirement System of the City of St. Louis

Published

11 months ago

on

November 17, 2023

By

Natural Bridge

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Employees Retirement System of the City of St. Louis

Summary

This bill pertains to the Employees Retirement System of the City of St. Louis (the “System”) by repealing Section One of Ordinance 71161 and enacting a new provision in order to comply with the federal Setting Every Community Up for Retirement Enhancement Act of 2022 (the “Secure Act 2.0”). This bill will preserve the System’s “qualified status” from the Internal Revenue Service and afford the System’s participants’ continued favorable tax treatment by permitting the System’s assets to grow tax free and to prevent the participants from being taxed when a participating employer makes a contribution to the System.

Overview

Session:

2023-2024

Introduced:
06/23/2023

Primary Sponsors:
Cara Spencer

Latest Activity:
Register Returns Notice with Ordinance Number

Ordinance:

71714 effective 07/31/2023

Legislative History

Legislative activities and outcomes for this board bill. Learn more about what these activities mean.

06/23/2023

First Reading

Bill text was introduced (304.94 KB PDF).
06/23/2023

Referred to a Committee

The bill was assigned to the
Budget and Public Employees Committee.
06/28/2023

Committee Hearing

The bill was passed out of committee with a recommendation of do pass during the
Budget and Public Employees Committee hearing.
06/30/2023

Second Reading
07/07/2023

Perfection

The bill was passed.
07/14/2023

Engrossment

The bill was engrossed during the Engrossment, Rules, Resolutions and Credentials Committee.
07/14/2023

Third Reading

The bill was passed.
07/14/2023

Delivered to Mayor
07/31/2023

Mayor Returns Bill

The bill was approved.
07/31/2023

Delivered to Register
08/02/2023

Register Returns Notice with Ordinance Number

Register returns ordinance number 71714. Effective date is 07/31/2023

Votes

07/14/2023
Vote Results

View vote details

Ordinance

Ordinance Number:

71714

Effective Date: 07/31/2023