87.340. Total amount payable to general reserve fund. - Missouri Statutes

Total amount payable to general reserve fund.

87.340. The total amount payable in each year to the generalreserve fund shall be not less than the sum of the rates percentknown as the normal contribution rate and the accrued liabilitycontribution rate of the total compensation earnable by allmembers during the year, and the aggregate payment by the cityshall be sufficient when combined with the amount in the fund toprovide the retirement allowances and other benefits payable outof the fund during the then current year. The city maycontribute at any time from bond issue or other available fundsan amount equal to the unfunded accrued liability as certified bythe actuary in which event no further accrued liabilitycontribution will be required or may contribute any lesser amountwhich will be used to proportionately reduce future accruedliability contributions.

(L. 1943 p. 708 § 8, A.L. 1959 S.B. 314 § 86.597)