Modifies the employer contribution rate for the Public School Retirement System of the City of St. Louis

HB 1504 modifies contribution rates for the Public School Retirement System of the City of St. Louis, directly affecting public school employees in St. Louis who participate in the retirement system. It sets employee contributions at 5% for pre-2018 hires, increasing by 0.5% annually until reaching 9% by 2022, while new hires (2018+) pay 9% immediately. The bill also adjusts employer contributions, requiring 16% of total member compensation in 2018, decreasing by 0.5% annually to 12.5% by 2025. These changes aim to balance system funding through structured, predictable contribution adjustments for both employees and employers.