86.910. Police retirement system created--election to continue system after decline in population. - Missouri Statutes

Police retirement system created--election to continue systemafter decline in population.

86.910. In all cities that now have or may hereafter attain apopulation of more than three hundred thousand and less than seven hundredthousand inhabitants according to the last preceding federal decennialcensus, there are hereby created and established retirement or pensionsystems for the purpose of providing retirement allowances for policeofficers of such cities. Any city which has established a policeretirement system under the provisions of sections 86.370 to 86.497 orsections 86.900 to 86.1280 may elect to continue its police retirementsystem under the provisions of sections 86.900 to 86.1280 even though thecity may cease to have the population described in this section, and anycity so electing to continue its established police retirement system shallbe excused from creating or maintaining any other police retirement systemunder any other provisions of the Missouri statutes. Each system shall beunder the management of a retirement board to be known as the "PoliceRetirement System of (name of city)", and by such name all of its businessshall be transacted, and all of its cash and other property held. Theretirement systems so created shall begin operation on the effective dateof sections 86.370 to 86.497.

(L. 2005 H.B. 323)