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

SB 456 would change the employer contribution rate for the Public School Retirement System of the City of St. Louis. This bill directly affects public school employees in St. Louis whose retirement benefits are funded through this system. The key provision modifies the percentage of payroll that employers (the city or school district) must contribute annually to the retirement fund. The bill is currently pending before the Senate Local Government, Elections and Pensions Committee after its second reading.