Section 86.150 – Pension accumulation fund.
Effective – 28 Aug 1939 86.150. Pension accumulation fund. — The pension accumulation fund shall be the fund in which shall be accumulated all reserves for the payment of all pensions and other benefits payable from contributions made by the said cities and from which shall be paid all pensions and other benefits on account […]
Section 86.153 – Contributions to and payments from such fund.
Effective – 28 Aug 1939 86.153. Contributions to and payments from such fund. — Contributions to and payments from the pension accumulation fund shall be as follows: On account of each member there shall be paid annually into the pension accumulation fund by the said cities an amount equal to a certain percentage of the […]
Section 86.157 – Actuary to determine normal contribution rate.
Effective – 28 Aug 1939 86.157. Actuary to determine normal contribution rate. — On the basis of regular interest and of such mortality and other tables as shall be adopted by the board of trustees, the actuary engaged by the board to make each valuation required by sections 86.010 to 86.193 during the period over […]
Section 86.160 – Accrued liability contribution rate.
Effective – 28 Aug 1939 86.160. Accrued liability contribution rate. — Immediately succeeding the first valuation the actuary engaged by the board of trustees shall compute the rate percent of the total earnable compensation of all members which is equivalent to four percent of the amount of the total pension and death benefit liability on […]
Section 86.163 – Amount payable to pension accumulation fund.
Effective – 28 Aug 1951 86.163. Amount payable to pension accumulation fund. — The total amount payable in each year to the pension accumulation fund shall be not less than the sum of the rates percent known as the normal contribution rate and the accrued liability contribution rate of the total compensation earnable by all […]
Section 86.167 – Accrued liability contribution discontinued, when.
Effective – 28 Aug 1939 86.167. Accrued liability contribution discontinued, when. — The accrued liability contribution should be discontinued as soon as the accumulated reserve in the pension accumulation fund shall equal the present value as actuarially computed and approved by the board of trustees, of the total liability of said fund, less the present […]
Section 86.170 – Pensions and benefits payable from pension accumulation fund — exceptions.
Effective – 28 Aug 1939 86.170. Pensions and benefits payable from pension accumulation fund — exceptions. — All pensions, and benefits in lieu thereof with the exception of those payable to or on account of members who received no prior service allowance and all lump sum death benefits on account of death in active service […]
Section 86.107 – Trustees to manage funds.
Effective – 28 Aug 2009 86.107. Trustees to manage funds. — The board of trustees shall be the trustees of the several funds created by sections 86.010 to 86.193 as provided in section 86.123 and shall have full power to invest and reinvest such funds and shall have full power to hold, purchase, sell, assign, […]
Section 86.110 – Interest on funds.
Effective – 28 Aug 1939 86.110. Interest on funds. — The board of trustees annually shall allow regular interest on the mean amount for the preceding year in each of the funds with the exception of the expense fund. The amount so allowed shall be due and payable to said funds and shall be annually […]
Section 86.113 – Treasurer of city to be custodian of funds — vouchers.
Effective – 28 Aug 1939 86.113. Treasurer of city to be custodian of funds — vouchers. — The treasurer of the said cities shall be the custodian of the several funds. All payments from said funds shall be made by him only upon vouchers signed by two persons designated by the board of trustees. A […]