2012 Missouri Revised Statutes
TITLE VI COUNTY, TOWNSHIP AND POLITICAL SUBDIVISION GOVERNMENT
Chapter 50 County Finances, Budget and Retirement Systems
Section 50.1031 Benefit adjustments, required assets-to-liability ratio--frequency of adjustments--effective date of adjustments.
Benefit adjustments, required assets-to-liability ratio--frequency of adjustments--effective date of adjustments.
50.1031. 1. No adjustments may be made until the fund has achieved a funded ratio of assets to the actuarial accrued liability equaling at least eighty percent. No benefit adjustment shall be adopted which causes the funded ratio to fall more than five percent.
2. Adjustments may be made no more frequently than once every twelve months.
3. Any adjustment or combination of adjustments within a twelve-month period may increase the actuarially determined, normally required annual contribution as a percentage of payroll no more than one percent.
4. Adjustments, other than those in subdivision (3) of subsection 9 of section 50.1030, will apply only with respect to active employees on the effective date of any adjustment.
(L. 2005 H.B. 58 merged with S.B. 210)
The headnotes, footnotes, annotations and index of the Missouri Revised Statutes, are used by permission of the Joint Committee on Legislative Research, the copyright holder.
Disclaimer: These codes may not be the most recent version. Missouri may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
