71.205. Pensioning of city employees--financing by municipal utility (cities 40,000 to 450,000). - Missouri Statutes

Pensioning of city employees--financing by municipal utility (cities40,000 to 450,000).

71.205. 1. Any city of this state that now has or mayhereafter have a population of more than forty thousandinhabitants and less than four hundred and fifty thousand isauthorized to provide by ordinance or otherwise for thepensioning of its municipal employees and the surviving spousesand children of deceased employees and to appropriate and utilizeits municipal revenues and other available funds for thesepurposes.

2. Any city authorized to provide for the pensioning of itsmunicipal employees and the surviving spouses and children ofdeceased employees in accordance with subsection 1 may includewithin the provisions of any pension plan adopted the employeesof any municipally owned or operated public utility, or mayauthorize by ordinance or otherwise a separate plan for thepensioning of the employees and the surviving spouses andchildren of deceased employees of any such municipally ownedpublic utility. Any pension plan adopted covering the employeesand the surviving spouses and children of the deceased employeesof a municipally owned or operated public utility may providethat the pensions to such employees and their surviving spousesand children be paid from the funds and revenues of themunicipally owned public utility. If the employees of any suchmunicipally owned public utility are included in a plan coveringall of the city's municipal employees, then the plan may providea pro rata share of the cost of administering the pension planshall be borne by funds and revenues of the municipal utility,and if a separate plan is provided covering just the employeesand the surviving spouses and children of deceased employees ofthe municipal utility, then the plan may provide the cost ofadministering the plan be paid solely from funds and revenue ofthe municipal utility.

(L. 1959 H.B. 205 §§ 1, 2, A.L. 1965 p. 190, A.L. 1983 H.B. 571)

CROSS REFERENCE:

Multinational banks, securities and obligations of, investment in, when, RSMo 409.950