104.1069. Trust established, investment of funds. - Missouri Statutes

Trust established, investment of funds.

104.1069. 1. All assets of the year 2000 plan shall be dedicated toand held in trust for the persons covered by the year 2000 plan and for thepurposes herein set out and no other. Each board shall have full power, inthe name and on behalf of the year 2000 plan, to manage the assets of theyear 2000 plan as described in sections 104.150 and 104.440.

2. The board shall invest the funds of the system as permitted bysections 105.687 to 105.690, RSMo. Trustees of a board may delegate toemployees of the system, or to an agent, functions that a prudent trusteeacting in a like capacity and familiar with those matters could properlydelegate.

3. Each board may deliberate about, or make tentative or finaldecisions on, investments or other financial matters in executive sessionif disclosure of the deliberations or decisions would jeopardize theability to implement a decision or to achieve investment objectives. Arecord of each system that discloses deliberations about, or a tentative orfinal decision on, investments or other financial matters is not a publicrecord under chapter 610, RSMo, to the extent and so long as its disclosurewould jeopardize the ability to implement a decision or to achieveinvestment objectives.

(L. 1999 S.B. 308 & 314)