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Employees Retirement System of the City of St. Louis
Sunday, November 22, 2009, 9:47:22 AM    

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Administration

The Employees Retirement System of the City of St. Louis became operative April 1, 1960 by a municipal ordinance establishing the Retirement System under the authority of Senate Bill No. 329 of the 70th General Assembly of the State of Missouri. Since it's establishment, the System has been improved and modified by change in the ordinances under which it operates.

The Retirement System is operated under policies established by a six-member Board of Trustees consisting of:
  1. The Comptroller of the City of St. Louis, ex officio;
  2. Two Trustees appointed by the Mayor of the City of St. Louis. Each appointee serves for a term of two years;
  3. Two Trustees elected by the members of the System. Each Trustee serves a term of two years;
  4. One Trustee elected for a term of two years by and from the retirees of the System.
The Chairman of the Board of Trustees is elected by the Trustees by majority vote. The Director of Personnel of the City of St. Louis serves as Secretary of the Board of Trustees and is responsible for the day-to-day operation of the System with the assistance of a trained staff.

The Board of Trustees is responsible for the establishment of policy and rules as may be necessary for the administration and operation of the Retirement System. Among its responsibilities are determining investment strategy and establishing investment policy, retaining consultants on various technical aspects of operations, adopting actuarial assumptions such as interest rates and mortality tables, reviewing and ruling on applications for benefits.

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