reglab/housing_qa huggingface dataset:
MO Rev Stat § 86.107 (2021)
2021 Missouri Revised Statutes|Title VII - Cities, Towns and Villages|Chapter 86 - Police Relief and Pension Systems|Section 86.107 - Trustees to manage funds.

Effective - 28 Aug 2009   86.107. Trustees to manage funds. — The board of trustees shall be the trustees of the several funds created by sections 86.010 to 86.193 as provided in section 86.123 and shall have full power to invest and reinvest such funds and shall have full power to hold, purchase, sell, assign, transfer or dispose of any of the securities and investments in which any of the funds created herein shall have been invested, as well as of the proceeds of said investments and any moneys belonging to said funds. The board shall invest the funds of the system as permitted by sections 105.687 to 105.690. ­­-------- (RSMo 1939 § 9470, A.L. 2009 H.B. 593 merged with S.B. 161)  Prior revision: 1929 § 8912  CROSS REFERENCE:  Multinational banks, securities and obligations of, investment in, when, 409.950
MO Rev Stat § 86.110 (2021)
2021 Missouri Revised Statutes|Title VII - Cities, Towns and Villages|Chapter 86 - Police Relief and Pension Systems|Section 86.110 - Interest on funds.

Effective - 28 Aug 1939   86.110. Interest on funds. — The board of trustees annually shall allow regular interest on the mean amount for the preceding year in each of the funds with the exception of the expense fund. The amount so allowed shall be due and payable to said funds and shall be annually credited thereto by the board of trustees from interest and other earnings on the moneys and other assets of the retirement system. Any additional amount required to meet the interest on the funds of the retirement system shall be paid by the said cities and any excess of earnings over such amount required shall be deductible from the amount to be contributed by the said cities. ­­-------- (RSMo 1939 § 9470)  Prior revision: 1929 § 8912
MO Rev Stat § 86.113 (2021)
2021 Missouri Revised Statutes|Title VII - Cities, Towns and Villages|Chapter 86 - Police Relief and Pension Systems|Section 86.113 - Treasurer of city to be custodian of funds — vouchers.

Effective - 28 Aug 1939   86.113. Treasurer of city to be custodian of funds — vouchers. — The treasurer of the said cities shall be the custodian of the several funds. All payments from said funds shall be made by him only upon vouchers signed by two persons designated by the board of trustees. A duly attested copy of the resolution of the board of trustees designating such persons and bearing on its face specimen signatures of such persons shall be filed with the treasurer as his authority for making payments upon such vouchers. No voucher shall be drawn unless it shall previously have been allowed by resolution of the board of trustees. ­­-------- (RSMo 1939 § 9470)  Prior revision: 1929 § 8912
MO Rev Stat § 86.117 (2021)
2021 Missouri Revised Statutes|Title VII - Cities, Towns and Villages|Chapter 86 - Police Relief and Pension Systems|Section 86.117 - Ten percent of fund may be in available cash — how kept.

Effective - 28 Aug 1939   86.117. Ten percent of fund may be in available cash — how kept. — For the purpose of meeting disbursements for pensions, annuities, and other payments, there may be kept available cash not exceeding ten percent of the total amount in the several funds of the retirement system on deposit in one or more banks or trust companies in said cities, organized under the laws of the state of Missouri, or of the United States; provided, that the amount on deposit in any one bank or trust company shall not exceed twenty-five percent of the paid up capital and surplus of such bank or trust company. ­­-------- (RSMo 1939 § 9470)  Prior revision: 1929 § 8912
MO Rev Stat § 86.120 (2021)
2021 Missouri Revised Statutes|Title VII - Cities, Towns and Villages|Chapter 86 - Police Relief and Pension Systems|Section 86.120 - Trustees and employees not to be interested personally in investments.

Effective - 28 Aug 1939   86.120. Trustees and employees not to be interested personally in investments. — Except as herein provided, no trustee and no employee of the board shall have any direct interest in the gains or profits of any investment made by the board of trustees, nor as such receive any pay or emolument for his services. No trustee or employee of the board of trustees shall directly or indirectly for himself or as an agent in any manner use the assets of the retirement system except to make such current and necessary payments as are authorized by the board of trustees, nor shall any trustee or employee of the board become an endorser or surety or become in any manner an obligor for moneys loaned by or borrowed from the board of trustees. ­­-------- (RSMo 1939 § 9470)  Prior revision: 1929 § 8912
MO Rev Stat § 86.123 (2021)
2021 Missouri Revised Statutes|Title VII - Cities, Towns and Villages|Chapter 86 - Police Relief and Pension Systems|Section 86.123 - Method of financing.

Effective - 28 Aug 1939   86.123. Method of financing. — All the assets of the retirement system shall be credited according to the purpose for which they are held to one of five funds; namely, the annuity savings fund, the annuity reserve fund, the pension accumulation fund, the pension reserve fund and the expense fund. ­­-------- (RSMo 1939 § 9471)  Prior revision: 1929 § 8913
MO Rev Stat § 86.127 (2021)
2021 Missouri Revised Statutes|Title VII - Cities, Towns and Villages|Chapter 86 - Police Relief and Pension Systems|Section 86.127 - Annuity savings fund.

Effective - 28 Aug 1939   86.127. Annuity savings fund. — The annuity savings fund shall be the fund in which shall be accumulated contributions from the compensation of the members to provide for their annuities. Upon the basis of such tables as the board of trustees shall adopt, and regular interest, the actuary of the retirement system shall determine for each member the proportion of compensation which when deducted from each payment of his prospective annual earnable compensation prior to his attainment of age sixty and accumulated at regular interest until his attainment of such age shall be computed to provide at that time an annuity equal to the pension to which he will be entitled at that age on account of his membership service. Such proportion of compensation shall be computed to remain constant. ­­-------- (RSMo 1939 § 9471)  Prior revision: 1929 § 8913
MO Rev Stat § 86.130 (2021)
2021 Missouri Revised Statutes|Title VII - Cities, Towns and Villages|Chapter 86 - Police Relief and Pension Systems|Section 86.130 - Rates of contribution.

Effective - 28 Aug 1939   86.130. Rates of contribution. — Subject to the provisions of sections 86.010 to 86.193 as to the certification of rates of contribution payable by members until the first valuation, the rates of contribution payable by members according to their ages at becoming members shall be as follows:   Age at becoming a contributor. Rate. Age at becoming a contributor. Rate.   20 3.53% 40 4.52%   21 3.56% 41 4.59%   22 3.60% 42 4.66%   23 3.64% 43 4.73%   24 3.68% 44 4.80%   25 3.72% 45 4.88%   26 3.76% 46 4.96%   27 3.80% 47 5.04%   28 3.85% 48 5.12%   29 3.90% 49 5.20%   30 3.95% 50 5.27%   31 4.00% 51 5.34%   32 4.05% 52 5.42%   33 4.10% 53 5.50%   34 4.15% 54 5.60%   35 4.21% 55 5.70%   36 4.27% 56 5.80%   37 4.33% 57 5.90%   38 4.39% 58 5.99%   39 4.45% 59 6.08%   ­­-------- (RSMo 1939 § 9471)  Prior revision: 1929 § 8913
MO Rev Stat § 86.133 (2021)
2021 Missouri Revised Statutes|Title VII - Cities, Towns and Villages|Chapter 86 - Police Relief and Pension Systems|Section 86.133 - Proportionate amount to be deducted from each payroll.

Effective - 28 Aug 1939   86.133. Proportionate amount to be deducted from each payroll. — The proportion so computed for a person age fifty-nine shall be applied to a member who attains a greater age before he becomes a member. The board of trustees shall certify to the board of police commissioners and the board of police commissioners shall cause to be deducted from the salary of each member on each and every payroll for each and every pay period, the proportion of the compensation of each member so computed. But the board of police commissioners shall not have any deduction made for annuity purposes from the compensation of a member who elects not to contribute if he has attained age sixty, nor shall any member be required to increase his rate of contribution as a result of any valuation or revision of members' contribution rates. ­­-------- (RSMo 1939 § 9471)  Prior revision: 1929 § 8913
MO Rev Stat § 86.137 (2021)
2021 Missouri Revised Statutes|Title VII - Cities, Towns and Villages|Chapter 86 - Police Relief and Pension Systems|Section 86.137 - Factors in determining deductions.

Effective - 28 Aug 1939   86.137. Factors in determining deductions. — In determining the amount earnable by a member in any payroll period, the board of trustees may consider the rate of annual compensation payable to such member on the first day of the payroll period as continuing throughout such payroll period and it may omit deduction from compensation for any period less than a full payroll period if the policeman was not a member on the first day of the payroll period and to facilitate the making of the deductions, it may modify the deduction required of any member by such amount as shall not exceed one-tenth of one percent of the compensation upon the basis of which such deduction was made. ­­-------- (RSMo 1939 § 9471)  Prior revision: 1929 § 8913
MO Rev Stat § 86.140 (2021)
2021 Missouri Revised Statutes|Title VII - Cities, Towns and Villages|Chapter 86 - Police Relief and Pension Systems|Section 86.140 - Members deemed to consent to deductions — payable into annuity savings fund.

Effective - 28 Aug 1939   86.140. Members deemed to consent to deductions — payable into annuity savings fund. — The deductions provided for herein shall be made notwithstanding that the minimum compensation provided by law for any member shall be reduced thereby. Every member shall be deemed to consent to the deductions made and provided for herein, and shall receipt for his full salary or compensation and payment of salary or compensation less said deduction shall be a full and complete discharge and acquittance of all claims and demands whatsoever for services rendered during the period covered by the payment except as to benefits provided by sections 86.010 to 86.193. The board of police commissioners shall certify to the board of trustees on each and every payroll or in such other manner as the board of trustees shall prescribe the amount deducted, and such amounts shall be paid into said annuity savings fund and shall be credited together with regular interest thereon to the individual account of the member from whose compensation said deduction was made. ­­-------- (RSMo 1939 § 9471)  Prior revision: 1929 § 8913
MO Rev Stat § 86.143 (2021)
2021 Missouri Revised Statutes|Title VII - Cities, Towns and Villages|Chapter 86 - Police Relief and Pension Systems|Section 86.143 - Additional contributions.

Effective - 28 Aug 1939   86.143. Additional contributions. — In addition to the contributions deducted from compensation as herein provided, any member may redeposit in the annuity savings fund by a single payment or by an increased rate of contribution an amount equal to the total amount he previously withdrew therefrom as provided in sections 86.010 to 86.193 or any part thereof or any member may deposit therein by a single payment or by an increased rate of contribution an amount computed to be sufficient to purchase an additional annuity which together with his prospective retirement allowance shall provide for him a total retirement allowance of not to exceed one-half of his average final compensation at age sixty. Such additional amounts so contributed shall become a part of his accumulated contributions except in the case of ordinary disability retirement when they shall be treated as excess contributions returnable to the member in cash or as an annuity of equivalent actuarial value. The accumulated contributions of a member withdrawn by him or paid to his estate or designated beneficiary in event of his death shall be paid from the annuity savings fund. Upon the retirement of a member his accumulated contributions shall be transferred from the annuity savings fund to the annuity reserve fund. ­­-------- (RSMo 1939 § 9471)  Prior revision: 1929 § 8913
MO Rev Stat § 86.147 (2021)
2021 Missouri Revised Statutes|Title VII - Cities, Towns and Villages|Chapter 86 - Police Relief and Pension Systems|Section 86.147 - Annuity reserve fund.

Effective - 28 Aug 1939   86.147. Annuity reserve fund. — The annuity reserve fund shall be the fund from which shall be paid all annuities and all benefits in lieu of annuities payable as provided in sections 86.010 to 86.193. Should a beneficiary retired on account of disability be restored to active service and again become a member of the retirement system, his annuity reserve shall be transferred from the annuity reserve fund to the annuity savings fund and credited to his individual account therein. ­­-------- (RSMo 1939 § 9471)  Prior revision: 1929 § 8913
MO Rev Stat § 86.150 (2021)
2021 Missouri Revised Statutes|Title VII - Cities, Towns and Villages|Chapter 86 - Police Relief and Pension Systems|Section 86.150 - Pension accumulation fund.

Effective - 28 Aug 1939   86.150. Pension accumulation fund. — The pension accumulation fund shall be the fund in which shall be accumulated all reserves for the payment of all pensions and other benefits payable from contributions made by the said cities and from which shall be paid all pensions and other benefits on account of members with prior service credit and the lump sum death benefits for all members payable from the said contributions. ­­-------- (RSMo 1939 § 9471)  Prior revision: 1929 § 8913
MO Rev Stat § 86.153 (2021)
2021 Missouri Revised Statutes|Title VII - Cities, Towns and Villages|Chapter 86 - Police Relief and Pension Systems|Section 86.153 - Contributions to and payments from such fund.

Effective - 28 Aug 1939   86.153. Contributions to and payments from such fund. — Contributions to and payments from the pension accumulation fund shall be as follows: On account of each member there shall be paid annually into the pension accumulation fund by the said cities an amount equal to a certain percentage of the earnable compensation of the member to be known as "the normal contribution" and an additional amount equal to a percentage of his earnable compensation to be known as "the accrued liability contribution". The rates percent of such contributions shall be fixed on the basis of the liabilities of the retirement system as shown by actuarial valuations. Until the first valuation the normal contribution shall be five and thirty-one one-hundredths percent and the accrued liability contribution four and forty-nine one-hundredths percent of the earnable compensation of all members. ­­-------- (RSMo 1939 § 9471)  Prior revision: 1929 § 8913
MO Rev Stat § 86.157 (2021)
2021 Missouri Revised Statutes|Title VII - Cities, Towns and Villages|Chapter 86 - Police Relief and Pension Systems|Section 86.157 - Actuary to determine normal contribution rate.

Effective - 28 Aug 1939   86.157. Actuary to determine normal contribution rate. — On the basis of regular interest and of such mortality and other tables as shall be adopted by the board of trustees, the actuary engaged by the board to make each valuation required by sections 86.010 to 86.193 during the period over which the accrued liability contribution is payable, immediately after making such valuation, shall determine the uniform and constant percentage of the earnable compensation of the average new entrant, which, if contributed throughout his entire period of active service, would be sufficient to provide for the payment of any death benefit or pension payable on his account. The rate percent so determined shall be known as "the normal contribution rate". After the accrued liability contribution has ceased to be payable the normal contribution rate shall be the rate percent of the earnable compensation of all members obtained by deducting from the total liabilities of the fund the amount of the funds in hand to the credit of the fund and dividing the remainder by one percent of the present value of the prospective future compensation of all members as computed on the basis of mortality and service tables adopted by the board of trustees and regular interest. The normal rate of contribution shall be determined by the actuary after each valuation. ­­-------- (RSMo 1939 § 9471)  Prior revision: 1929 § 8913
MO Rev Stat § 86.160 (2021)
2021 Missouri Revised Statutes|Title VII - Cities, Towns and Villages|Chapter 86 - Police Relief and Pension Systems|Section 86.160 - Accrued liability contribution rate.

Effective - 28 Aug 1939   86.160. Accrued liability contribution rate. — Immediately succeeding the first valuation the actuary engaged by the board of trustees shall compute the rate percent of the total earnable compensation of all members which is equivalent to four percent of the amount of the total pension and death benefit liability on account of all members and beneficiaries which is not dischargeable by the aforesaid normal contribution made on account of such members during the remainder of their active service. The rate percent originally so determined shall be known as "the accrued liability contribution rate". ­­-------- (RSMo 1939 § 9471)  Prior revision: 1929 § 8913
MO Rev Stat § 86.163 (2021)
2021 Missouri Revised Statutes|Title VII - Cities, Towns and Villages|Chapter 86 - Police Relief and Pension Systems|Section 86.163 - Amount payable to pension accumulation fund.

Effective - 28 Aug 1951   86.163. Amount payable to pension accumulation fund. — The total amount payable in each year to the pension accumulation fund shall be not less than the sum of the rates percent known as the normal contribution rate and the accrued liability contribution rate of the total compensation earnable by all members during the year; provided, however, that the aggregate payment by the said cities shall be sufficient when combined with the amount in the fund to provide the pensions and other benefits payable out of the fund during the then current year. ­­-------- (RSMo 1939 § 9471, A.L. 1951 p. 354)  Prior revision: 1929 § 8913
MO Rev Stat § 86.167 (2021)
2021 Missouri Revised Statutes|Title VII - Cities, Towns and Villages|Chapter 86 - Police Relief and Pension Systems|Section 86.167 - Accrued liability contribution discontinued, when.

Effective - 28 Aug 1939   86.167. Accrued liability contribution discontinued, when. — The accrued liability contribution should be discontinued as soon as the accumulated reserve in the pension accumulation fund shall equal the present value as actuarially computed and approved by the board of trustees, of the total liability of said fund, less the present value computed on the basis of the normal contribution rate then in force of the prospective normal contributions to be received on account of persons who are at that time members. ­­-------- (RSMo 1939 § 9471)  Prior revision: 1929 § 8913
MO Rev Stat § 86.170 (2021)
2021 Missouri Revised Statutes|Title VII - Cities, Towns and Villages|Chapter 86 - Police Relief and Pension Systems|Section 86.170 - Pensions and benefits payable from pension accumulation fund — exceptions.

Effective - 28 Aug 1939   86.170. Pensions and benefits payable from pension accumulation fund — exceptions. — All pensions, and benefits in lieu thereof with the exception of those payable to or on account of members who received no prior service allowance and all lump sum death benefits on account of death in active service payable from contributions of the said cities, shall be paid from the pension accumulation fund. ­­-------- (RSMo 1939 § 9471)  Prior revision: 1929 § 8913
MO Rev Stat § 86.173 (2021)
2021 Missouri Revised Statutes|Title VII - Cities, Towns and Villages|Chapter 86 - Police Relief and Pension Systems|Section 86.173 - Sum transferred to reserve fund, when.

Effective - 28 Aug 1939   86.173. Sum transferred to reserve fund, when. — Upon the retirement or death of a member not entitled to prior service credit an amount equal to the pension reserve on any pension payable to him or on account of his death shall be transferred from the pension accumulation fund to the pension reserve fund. ­­-------- (RSMo 1939 § 9471)  Prior revision: 1929 § 8913
MO Rev Stat § 86.177 (2021)
2021 Missouri Revised Statutes|Title VII - Cities, Towns and Villages|Chapter 86 - Police Relief and Pension Systems|Section 86.177 - Pension reserve fund.

Effective - 28 Aug 1939   86.177. Pension reserve fund. — The pension reserve fund shall be the fund in which shall be held the reserves on all pensions granted to members not entitled to prior service credit or to their beneficiaries and from which such pensions and benefits in lieu thereof shall be paid. Should a beneficiary retired on account of disability be restored to active service and again become a member of the retirement system his pension reserve shall be transferred from the pension reserve fund to the pension accumulation fund. Should the pension of a disability beneficiary be reduced as a result of an increase in his earning capacity, the amount of the annual reduction in his pension shall be paid annually into the pension accumulation fund during the period of such reduction. ­­-------- (RSMo 1939 § 9471)  Prior revision: 1929 § 8913
MO Rev Stat § 86.180 (2021)
2021 Missouri Revised Statutes|Title VII - Cities, Towns and Villages|Chapter 86 - Police Relief and Pension Systems|Section 86.180 - Expense fund.

Effective - 28 Aug 1939   86.180. Expense fund. — The expense fund shall be the fund to which shall be credited all money provided by the said cities to pay the administration expenses of the retirement system and from which shall be paid all the expenses necessary in connection with the administration and operation of the system. Annually the board of trustees shall estimate the amount of money necessary to be paid into the expense fund during the ensuing year to provide for the expense of operation of the retirement system. ­­-------- (RSMo 1939 § 9471)  Prior revision: 1929 § 8913
MO Rev Stat § 86.183 (2021)
2021 Missouri Revised Statutes|Title VII - Cities, Towns and Villages|Chapter 86 - Police Relief and Pension Systems|Section 86.183 - Contributions by city.

Effective - 28 Aug 1939   86.183. Contributions by city. — 1. On or before the first of March of each year the board of trustees shall certify to the board of police commissioners the amounts which will become due and payable during the year next following to the pension accumulation fund and the expense fund. The amounts so certified shall be included by the board of police commissioners in their annual budget estimate. The amounts so certified shall be appropriated by the said cities and transferred to the retirement system for the ensuing year.  2. To cover the requirements of the retirement system for the period prior to the date when the first regular appropriation is due as provided by subsection 1, such amounts as shall be necessary to cover the needs of the retirement system shall be paid into the pension accumulation fund and expense fund by special appropriations to the retirement system. ­­-------- (RSMo 1939 § 9472)  Prior revision: 1929 § 8914