169.420. Retirement system--how managed. - Missouri Statutes

Retirement system--how managed.

169.420. In all metropolitan school districts of this state, thereare hereby created and established retirement systems for the purpose ofproviding retirement benefits for employees of said school districts. Eachsuch system shall be a body corporate, and shall be under the management ofa board of trustees herein described, and shall be known as "The PublicSchool Retirement System of ........ (name of school district)". Suchsystem shall, by and in such name, sue and be sued, transact all of itsbusiness, invest all of its funds and hold all of its cash, securities andother property; provided, however, that such securities and other propertymay be held on behalf of the retirement system in the name of a nominee inorder to facilitate the expeditious transfer of such securities or otherproperty.

(L. 1943 p. 805 § 2, A.L. 1978 S.B. 542, A.L. 2001 H.B. 660)