Bill Sponsored By Lake Rep Jeff Vernetti Seeks To Require Retirement Allowances

A House Bill being considered in this year’s Missouri General Assembly is taking aim at taxes paid on retirement allowances.

The bill is sponsored by the lake area’s Jeff Vernetti seeking to require that 100% of retirement allowances received from any private pension source be subtracted from a taxpayer’s adjusted gross income regardless of the taxpayer’s filing status or income.

After being referred to the House Pensions Committee, Vernetti’s bill was heard in a public hearing. At the current time, however, it does not appear on the calendar for further consideration.