87.335. Accrued liability contribution rate, determination of. - Missouri Statutes

Accrued liability contribution rate, determination of.

87.335. At the first valuation after the effective date ofthese amendments (in 1959) the actuary engaged by the board oftrustees shall compute the rate percent of the total earnablecompensation of all members which is equivalent to three andone-half percent of the amount of the total unfunded benefitliability on account of all members and beneficiaries which isnot dischargeable by the aforesaid normal contribution made onaccount of such members during the remainder of their activeservice. The rate percent originally so determined shall beknown as "the accrued liability contribution rate".

(L. 1943 p. 708 § 8, A.L. 1951 p. 355 § 86.593, A.L. 1959 S.B. 314)