Section 86.1000

Title VII CITIES, TOWNS AND VILLAGES

Chapter 86

Effective - 28 Aug 2013, 2 histories   

  86.1000.  Contributions to pension fund by city — board to certify to board of police commissioners amount required. — 1.  The city shall contribute to the pension fund quarter-annually or at such lesser intervals as may be agreed upon by the city and the retirement board.  Such contribution shall be in addition to and separate from the appropriations made by the city for the operation of the police department.  For each fiscal year of the operation of the pension system, the city's contribution to the pension fund shall be a percentage of the compensation paid to members of the pension system from which a member's deduction has been made under section 86.1010.  The city's contribution shall be the total of the following amounts:

  (1)  Such amounts as may be necessary to meet the requirements for the annual actuarial required contributions as determined by a qualified professional actuary selected by the retirement board;

  (2)  An amount of two-hundred dollars per month for every member entitled to receive a supplemental benefit under section 86.1230 or section 86.1231.  

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Such total of said amounts shall be certified by the retirement board to the chief financial officer of said city as provided in section 86.990.

  2.  On or before October fifteenth of each year the retirement board shall certify to the board of police commissioners the amount of money that will be required to comply with the provisions of this section during the next succeeding fiscal year including administration expenses.  The amounts so certified shall be included by the board of police commissioners in their annual budget estimate, and shall be appropriated by the cities and transferred to the pension fund during the ensuing fiscal year.

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(L. 2005 H.B. 323, A.L. 2013 H.B. 116 merged with H.B. 418)