2005 Missouri Revised Statutes - § 105.927. — State\'s contribution to qualified participants in deferred compensation program.

105.927. 1. The treasurer of the state of Missouri shall credit an amount not to exceed seventy-five dollars per month, to a plan established pursuant to the provisions of the Internal Revenue Code Section 401(a) for each qualified participant in the state's deferred compensation program; provided that funds to be credited to each qualified participant's account shall not exceed the amount appropriated by the general assembly for each qualified participant. Funds so credited shall be held, administered and invested as provided in sections 105.900 to 105.925 and the plan document adopted for the administration of such contributions.

2. For purposes of this section, "qualified participant" means an employee of the state of Missouri who is making continuous deferrals of at least twenty-five dollars per month to the deferred compensation program and has been an employee of the state of Missouri for at least twelve consecutive months immediately preceding the commencement of any amount credited pursuant to this section. The amount credited on behalf of a qualified participant pursuant to this section shall not exceed the amount that the qualified participant contributes to his or her deferred compensation plan.

(L. 1994 H.B. 947 § 1, A.L. 1998 H.B. 1229)