Board Bill Number 74 Votes | Session 2023-2024
Employees Retirement System of the City of St. Louis
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.
07/14/2023 Final Passage Vote Results
|10||Shameem Clark Hubbard||Aye|
|President||Megan E Green||Aye|