Section 87.305 – Refunds of contributions, when.
Effective – 28 Aug 1977 87.305. Refunds of contributions, when. — The board of trustees is authorized at its discretion to make refunds or grant additional benefits for such parts of contributions as were made prior to the adoption of the eight percent rate for all members which were in excess of the compulsory contributions […]
Section 87.310 – Repayment with interest of contributions withdrawn on reinstatement of member.
Effective – 28 Aug 2001, 2 histories 87.310. Repayment with interest of contributions withdrawn on reinstatement of member. — When any member terminates his or her employment as a firefighter and withdraws his or her accumulated contributions from the retirement system, he or she ceases to be a member of the retirement system. If he […]
Section 87.315 – Benefit reserve fund.
Effective – 28 Aug 1959 87.315. Benefit reserve fund. — The benefit reserve fund shall be the fund from which shall be paid all benefits except such benefits as involve only the refund of the members’ contributions at time of withdrawal in which case the refund shall be made direct from the members’ savings fund. […]
Section 87.320 – General reserve fund.
Effective – 28 Aug 1959 87.320. General reserve fund. — The general reserve fund shall be the fund in which shall be accumulated all reserves for benefits not provided by members’ contributions, and which are provided by contributions made by the city. ——– (L. 1943 p. 708 § 8, A.L. 1959 S.B. 314 § 86.583)
Section 87.325 – Contributions by city to general reserve fund.
Effective – 28 Aug 1959 87.325. Contributions by city to general reserve fund. — Contributions to and payments from the general reserve fund shall be as follows: On account of each member there shall be paid annually into the fund by the city an amount equal to a certain percentage of the earnable compensation of […]
Section 87.330 – Normal contribution rate, determination of.
Effective – 28 Aug 1959 87.330. Normal contribution rate, determination of. — On the basis of the interest rate and of such mortality and other tables as shall be adopted by the board of trustees, the actuary shall determine the uniform and constant percentage of the earnable compensation of the average new entrant, which, if […]
Section 87.335 – Accrued liability contribution rate, determination of.
Effective – 28 Aug 1959 87.335. Accrued liability contribution rate, determination of. — At the first valuation after the effective date of these amendments (in 1959) 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 three and one-half percent […]
Section 87.340 – Total amount payable to general reserve fund.
Effective – 28 Aug 1959 87.340. Total amount payable to general reserve fund. — The total amount payable in each year to the general reserve 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 […]
Section 87.280 – Trustees, employees not to have interest in contracts or money.
Effective – 28 Aug 1959 87.280. Trustees, employees not to have interest in contracts or money. — Except as herein provided, no trustee and no employee of the board shall have any direct interest in the gains or profits of any investment made by the board of trustees, nor as such receive any pay or […]
Section 87.285 – Assets in four funds — names of.
Effective – 28 Aug 1959 87.285. Assets in four funds — names of. — All the assets of the retirement system shall be credited according to the purpose for which they are held to one of four funds; namely, the members’ savings fund, the benefit reserve fund, the general reserve fund, and the expense fund. […]