Deferred compensation.
St. Louis Revised Code § 4.10.260
in effect4.10.260 - Deferred compensation.
(a) Authority is hereby granted for the establishment of a deferred compensation plan for the City of St. Louis.
(b) In accordance with the regulations applicable to the plan, as set out herein, the Comptroller is authorized to enter into an agreement with eligible participants, whereby said participants may designate a portion of their future earnings to be deducted by the City and placed in a fund to be designated "City of St. Louis Deferred Compensation Plan Fund" for the purpose of providing tax deferred benefits to the participants upon retirement.
(c) The Board of Estimate and Apportionment is hereby authorized to establish or select a specific plan or plans in accordance with the requirements set out in this chapter. In establishing the plan, the Board of Estimate and Apportionment may elect to retain outside parties to provide administrative and/or investment services after following competitive bidding procedures. The Board of Estimate and Apportionment is authorized, after analyzing the various competitive bids submitted in accordance with the requirements of this chapter, to select the plan or plans it determines to meet the requirements established as a part of the competitive bidding procedures and to be in the best interest of the participants. No investment plan shall be considered unless offered by a duly licensed resident agent representing a company duly licensed and authorized by the State of Missouri and other applicable federal regulatory agencies to offer such insurance or investment programs.
In the event Federal or State legislation is changed in a manner affecting and/or relating to any of the aforementioned deferred compensation provisions contained in this section, the Board of Estimate and Apportionment of the City of St. Louis may amend the deferred compensation plan accordingly and may execute any and all documents necessary to achieve and effectuate the recommended changes.
(Ord. No. 71963, § 26, 2-11-2025; Ord. No. 71686, § 26, 6-28-2023; Ord. No. 71512, § 26, 6-16-2022; Ord. No. 71099, § 26, 2-27-2020.)
Source: City of St. Louis, Missouri, Revised Code of the City of Saint Louis, 2020, Annotated, and City Charter (Municode Library, library.municode.com)URL: https://library.municode.com/mo/st._louis/codes/code_of_ordinances?nodeId=TIT4PE_CH4.10CLSEPL_4.10.260DECOFetched: 11/1/2026