| 7 | 6 | | ANACT |
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| 8 | 7 | | Torepealsections87.140,87.145,87.155,87.260,and87.350,RSMo,andtoenactinlieu |
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| 9 | 8 | | thereoffivenewsectionsrelatingtothefirefighters'retirementsystemsforcertain |
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| 10 | 9 | | cities. |
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| 11 | 10 | | BeitenactedbytheGeneralAssemblyofthestateofMissouri,asfollows: |
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| 12 | 11 | | SectionA.Sections87.140,87.145,87.155,87.260,and87.350,RSMo,arerepealed |
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| 13 | 12 | | 2andfivenewsectionsenactedinlieuthereof,tobeknownassections87.140,87.145,87.155, |
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| 14 | 13 | | 387.260,and87.350,toreadasfollows: |
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| 15 | 14 | | 87.140.1.Thegeneraladministrationandtheresponsibilityfortheproperoperation |
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| 16 | 15 | | 2oftheretirementsystemshallbevestedinaboardoftrusteesofninepersons.Theboardshall |
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| 17 | 16 | | 3beconstitutedasfollows: |
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| 18 | 17 | | 4 (1)Thechiefofthefiredepartmentofthecity,exofficio; |
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| 19 | 18 | | 5 (2)Thecomptrollerordeputycomptrollerofthecity,exofficio; |
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| 20 | 19 | | 6 (3)Twomemberstobeappointedbythemayorofthecitytoserveforatermoftwo |
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| 21 | 20 | | 7years; |
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| 22 | 21 | | 8 (4)Threememberstobeelectedbythemembersoftheretirementsystemforaterm |
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| 23 | 22 | | 9ofthreeyearswhoshallbemembersofthesystemandholdofficeonlywhilemembersofthe |
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| 24 | 23 | | 10system; |
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| 25 | 24 | | 11 (5)Twomemberswhoshallberetiredfirementobeelectedbytheretiredfiremenof |
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| 26 | 25 | | 12thecityandwhoshallholdofficeforatermofthreeyears. |
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| 27 | 26 | | 13 2.Ifavacancyoccursintheofficeoftrustee,thevacancyshallbefilledforthe |
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| 28 | 27 | | 14unexpiredterminthesamemannerastheofficewaspreviouslyfilled. |
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| 29 | 28 | | EXPLANATION—Matterenclosedinbold-facedbrackets[thus] intheabovebillisnotenactedandis |
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| 30 | 29 | | intendedtobeomittedfromthelaw.Matterinbold-facetypeintheabovebillisproposedlanguage. 15 3.Thetrusteesshallservewithoutcompensation,buttheyshallbereimbursedfrom |
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| 31 | 30 | | 16theexpensefundforallnecessaryexpenseswhichtheymayincurthroughserviceonthe |
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| 32 | 31 | | 17board. |
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| 33 | 32 | | 18 4.Eachtrusteeshall,withintendaysafterhisappointmentorelection,takeanoathof |
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| 34 | 33 | | 19officebeforetheclerkofcircuitcourtofthecity,that,sofarasitdevolvesuponhim,hewill |
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| 35 | 34 | | 20diligentlyandhonestlyadministertheaffairsoftheboardandthathewillnotknowingly |
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| 36 | 35 | | 21violateorwillinglypermittobeviolatedanyoftheprovisionsofthelawapplicabletothe |
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| 37 | 36 | | 22retirementsystem.Theoathshallbesubscribedtobythemembermakingitandcertifiedby |
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| 38 | 37 | | 23theclerkofcircuitcourtandfiledinhisoffice. |
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| 39 | 38 | | 24 5.Eachtrusteeshallbeentitledtoonevoteontheboard.Fivevotesshallbe |
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| 40 | 39 | | 25necessaryforadecisionbythetrusteesatanymeetingoftheboard. |
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| 41 | 40 | | 26 6.Notwithstandinganyprovisionofsections87.120to87.371tothecontrary,the |
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| 42 | 41 | | 27boardoftrusteesoftheretirementsystemshallnotbepreventedfromsimultaneously |
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| 43 | 42 | | 28actingasthetrusteesofanyotherpensionplanthatprovidesretirement,disability,and |
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| 44 | 43 | | 29deathbenefitsforfirefightersemployedbyanycitynotwithinacountyandthe |
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| 45 | 44 | | 30firefighters'covereddependents.Theadministrationoftheotherpensionplanshallbe |
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| 46 | 45 | | 31inaccordancewiththetermsofsuchpensionplan.Nothinginthissubsectionshall |
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| 47 | 46 | | 32preventtheboardofaldermenofacitynotwithinacountyfromadoptingordinancesto |
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| 48 | 47 | | 33governthepensioningoffirefightersandsuchfirefighters'covereddependentsinany |
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| 49 | 48 | | 34otherpensionplansimultaneouslyadministeredbytheboardoftrusteesofthe |
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| 50 | 49 | | 35retirementsystem. |
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| 51 | 50 | | 87.145.Theboardoftrusteesshallhaveexclusiveoriginaljurisdictioninallmatters |
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| 52 | 51 | | 2relatingtooraffectingthefundshereinprovidedfor,including,inadditiontoallother |
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| 53 | 52 | | 3matters,allclaimsforbenefitsandrefundsunderthislaw,anditsaction,decisionor |
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| 54 | 53 | | 4determinationinanymattershallbereviewableunderchapter536only,andanypartytothe |
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| 55 | 54 | | 5proceedingsshallhavearightofappealfromthedecisionofthereviewingcourt.Subjectto |
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| 56 | 55 | | 6thelimitationsofsections87.120to87.370,theboardoftrusteesshall,fromtimetotime, |
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| 57 | 56 | | 7establishrulesandregulationsfortheadministrationoffundscreatedbythislaw,forthe |
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| 58 | 57 | | 8transactionofitsbusiness,andforthelimitationofthetimewithinwhichclaimsmaybefiled. |
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| 59 | 58 | | 9Theadministrationofanypensionplanotherthantheretirementsystemincludesthe |
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| 60 | 59 | | 10abilityoftheboardoftrustees,fromtimetotime,toestablishrulesandregulationsfor |
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| 61 | 60 | | 11theadministrationoffundsofsuchotherpensionplanandforthetransactionofsuch |
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| 62 | 61 | | 12otherpensionplan'sbusiness.Nothinginthissectionshallpreventtheboardof |
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| 63 | 62 | | 13aldermenofacitynotwithinacountyfromadoptingordinancestogovernthe |
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| 64 | 63 | | 14pensioningoffirefightersandsuchfirefighters'covereddependentsinanyotherpension |
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| 65 | 64 | | 15plansimultaneouslyadministeredbytheboardoftrusteesoftheretirementsystem. |
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| 66 | 65 | | HB205 2 87.155.1.Theboardoftrusteesshallkeepinconvenientformsuchdataasis |
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| 67 | 66 | | 2necessaryforactuarialvaluationofthefundsoftheretirementsystemandforcheckingthe |
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| 68 | 67 | | 3experienceofthesystem. |
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| 69 | 68 | | 4 2.Theboardoftrusteesshallkeeparecordofallitsproceedingswhichshallbeopen |
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| 70 | 69 | | 5topublicinspection.Itshallpublishannuallyareportshowingthefiscaltransactionsofthe |
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| 71 | 70 | | 6retirementsystemfortheprecedingfiscalyear,theamountoftheaccumulatedcashand |
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| 72 | 71 | | 7securitiesofthesystem,andthelastbalancesheetshowingthefinancialconditionofthe |
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| 73 | 72 | | 8systembymeansofanactuarialvaluationoftheassetsandliabilitiesoftheretirement |
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| 74 | 73 | | 9system. |
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| 75 | 74 | | 10 3.Totheextenttheboardoftrusteesadministersapensionplanotherthanthe |
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| 76 | 75 | | 11retirementsystem,theboardoftrusteesshallmaintainseparaterecordsofall |
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| 77 | 76 | | 12proceedingsofsuchotherpensionplan. |
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| 78 | 77 | | 87.260.Theboardoftrusteesofthefirefighters'retirementsystemshallhavethe |
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| 79 | 78 | | 2exclusiveauthorityanddiscretiontoinvestandreinvestthefundsinpropertyofanykind,real |
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| 80 | 79 | | 3orpersonal.Theboardoftrusteesshallinvestandmanagethefundasaprudentinvestor |
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| 81 | 80 | | 4would,byconsideringthepurposes,terms,distributionrequirements,andothercircumstances |
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| 82 | 81 | | 5ofthefirefighters'retirementsystem.Insatisfyingthisstandard,theboardoftrusteesshall |
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| 83 | 82 | | 6exercisereasonablecare,skill,andcaution.Notrusteeshallhaveanyinterestasatrusteein |
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| 84 | 83 | | 7thegainsorprofitsmadeonanyinvestment,exceptbenefitsfrominterestininvestments |
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| 85 | 84 | | 8commontoallmembersoftheplan,ifentitledthereto.Totheextenttheboardoftrustees |
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| 86 | 85 | | 9administersapensionplanotherthantheretirementsystem,theboardoftrusteesshall |
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| 87 | 86 | | 10alsohavetheauthorityanddiscretiontoinvestandreinvestthefundsofsuchother |
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| 88 | 87 | | 11pensionplaninpropertyofanykind,realorpersonal.Theboardoftrusteesmay |
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| 89 | 88 | | 12choosetoinvestthefundsoftheretirementsystemandthefundsoftheotherpension |
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| 90 | 89 | | 13planinthesameinvestmentssolongastheamountsinvestedandthegains,profits,or |
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| 91 | 90 | | 14lossesonsuchinvestmentsareaccountedforseparately.Nobenefitsduetothe |
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| 92 | 91 | | 15firefightersorsuchfirefighters'covereddependentsfromtheotherpensionplanshall |
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| 93 | 92 | | 16bepaidfromthefundsoftheretirementsystem.Nothinginthissectionshallprevent |
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| 94 | 93 | | 17theboardofaldermenofacitynotwithinacountyfromadoptingordinancestogovern |
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| 95 | 94 | | 18thepensioningoffirefightersandsuchfirefighters'covereddependentsinanyother |
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| 96 | 95 | | 19pensionplansimultaneouslyadministeredbytheboardoftrusteesoftheretirement |
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| 97 | 96 | | 20system. |
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| 98 | 97 | | 87.350.Theexpensefundshallbethefundtowhichshallbecreditedallmoney |
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| 99 | 98 | | 2providedtopaytheadministrationexpensesoftheretirementsystemandfromwhichshallbe |
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| 100 | 99 | | 3paidalltheexpensesnecessaryinconnectionwiththeadministrationandoperationofthe |
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| 101 | 100 | | 4system.Annuallytheboardoftrusteesshallestimatetheamountofmoneynecessarytobe |
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| 102 | 101 | | 5paidintotheexpensefundduringtheensuingyeartoprovidefortheexpenseofoperationof |
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| 103 | 102 | | HB205 3 6theretirementsystem.Suchestimateshallbeprovidedbytheboardoftrusteesfrominterest |
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| 104 | 103 | | 7andotherearningsonassetsoftheretirementsystem.Innoeventshallanyexpenses, |
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| 105 | 104 | | 8includingadministrativeexpenses,incurredbytheboardoftrusteesinthe |
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| 106 | 105 | | 9administrationofanypensionplanotherthantheretirementsystemorinthe |
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| 107 | 106 | | 10investmentofanyfundsofanypensionplanotherthantheretirementsystembepaid |
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| 108 | 107 | | 11fromthefundsoftheretirementsystem.Suchexpensesshallbepaidentirelyfromthe |
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| 109 | 108 | | 12fundsoftheotherpensionplan. |
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| 110 | 109 | | âś” |
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| 111 | 110 | | HB205 4 |
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