Section 86.950 Board to establish policies

Section 86.950 Board to establish policies — officers and employees.

MO Rev Stat § 86.950 (2019) (N/A)

Copy with citation

Copy as parenthetical citation

Effective 28 Aug 2005

86.950. Board to establish policies — officers and employees. — 1. Subject to the limitations of sections 86.900 to 86.1280, the retirement board shall from time to time establish policies for the administration of its assets, for the transaction of its business and for the conduct of nominations and elections of the elected members of the retirement board.

2. The retirement board shall elect from its membership a chairman, a vice chairman, and a treasurer, and shall by majority vote of its members appoint a secretary, who may be, but need not be, one of its members. The offices of secretary and of treasurer shall not be held by the same person. The retirement board may employ such actuarial, legal, and other services as may be necessary to transact the business of the retirement system. The compensation of all persons employed by the retirement board and all other expenses of the board necessary for the operation of the retirement system shall be paid in such manner as the retirement board shall determine; provided that the compensation of such persons as may be employed by the retirement board shall not be greater than the compensation paid for comparable abilities by the governments of the cities in which the retirement board is located.

--------

(L. 2005 H.B. 323)

Previous Section

Section 86.940 Voting rights of board members.

Next Section

Section 86.951 Board deemed a state agency — rulemaking authority.