105.680. Expenses for cost statements, how paid.

MISSOURI STATUTES AND CODES

105.680. Expenses for cost statements, how paid.

Expenses for cost statements, how paid.

105.680. 1. For any proposed change in plan benefits, theexpense of having the cost statement prepared shall be assuredbefore the legislative body may take final action to approve aproposed substantial change in plan benefits.

2. The expense of having the cost statement prepared shallbe paid by the plan if the substantial proposed change isinitiated or approved by the plan's governing board.

3. When the general assembly is the legislative bodyconsidering a proposed change in plan benefits, the jointcommittee on public employee retirement, upon approval by amajority of the statutory number of senators serving on thecommittee and approval of a majority of the statutory number ofrepresentatives serving on the committee, may assume theexpense of preparing a cost statement required by sections105.660 to 105.685 by employing or contracting with an actuaryor actuaries who possess the qualifications required by theprovisions of sections 105.660 to 105.685 upon such terms asmay be agreed upon and within the limits of appropriations madetherefor, or may order the plan to provide such statement.

4. If the expense of preparing the cost statement is notassured by reason of subsection 2 or 3 above, the expense shallbe paid by the individual, group of individuals, department oragency seeking such proposed change.