86.360. Consolidation of retirement system created by sections 86.010 to 86.193 with system created by this law. - Missouri Statutes

Consolidation of retirement system created by sections 86.010 to86.193 with system created by this law.

86.360. The board of trustees provided for by section 86.213 ishereby authorized to consolidate, combine and transfer funds provided bysections 86.010 to 86.193 with the funds provided by sections 86.200 to86.366 in such a manner as will simplify the operations of the two systems.Separate records shall be maintained only to the extent necessary todetermine and pay the benefits provided by sections 86.010 to 86.193 forthose policemen electing not to become members of the retirement systemprovided by sections 86.200 to 86.366. The board of trustees may acceptthe membership records of the older system in lieu of the requirements insection 86.210. The board of trustees may authorize the use of the sameactuarial assumptions and interest rate in the calculation of thecontributions by the cities for both systems and the accrued liability ratemay be a combined rate for both systems.

(L. 1957 p. 256 § 53, A.L. 2000 H.B. 1808, A.L. 2001 S.B. 290)