SB 456 - This act modifies provisions relating to contribution rates for the Public School Retirement System of the City of St. Louis ("PSRSSTL"). Currently, the employer contribution rate was set at 16% in 2018 with yearly 0.5% decreases until the rate is 9% of the total compensation of all members employed in 2032. This act ends such decreases in 2025 at the employer contribution rate of 12.5%. In calendar year 2026 and every subsequent year, this act sets the employer contribution rate at 14%. This act is similar to provisions in SB 1504 (2024) and in HB 2846 (2024).
KATIE O'BRIEN