Favorable Report on Pension Bills in Missouri
The Municipal Corporation Committee of the House, reported favorably the St. Louis, Mo., firemen’s pension fund bills introduced by Representative O’Brien. One of these bills provides for the increasing of license taxes upon insurance companies from $100 to $200 a year, the increase to go into the pension fund. The other paves the way for the levying of one-fifth of a mill for the benefit of the fund. This latter bill is an enabling act. James Toohey, a member of the Pension Board, said about $65,000 annually is necessary to meet the claims against the fund due to deaths and widow’s pensions, and that the 1 per cent, of all license fees now given to the fund by the city leaves a deficit of $37,000, which must be made up through the levying of dues of $2.50 a month and through entertainments, donations, etc. The insurance license tax of $200 would yield $16,000, he said.