Section 104.1205

Title VIII PUBLIC OFFICERS AND EMPLOYEES, BONDS AND RECORDS

Chapter 104

Effective - 28 Aug 2001, 2 histories, see footnote   (history) 

  *104.1205.  Until June 30, 2018, duties of board. — The board of trustees of the Missouri state employees' retirement system shall:

  (1)  Establish a defined contribution plan for outside employees which, among other things, provides for immediate vesting;

  (2)  Select a third-party administrator to provide such services as the board determines to be necessary for the proper administration of the defined contribution plan;

  (3)  Select the investment products which shall be made available to the participants in the defined contribution plan;

  (4)  Annually establish the contribution rate used for purposes of subsection 3 of section 104.1066 for employees of institutions who are other than outside employees, which shall be done by considering all such employees to be part of the general employee population within the Missouri state employees' retirement system;

  (5)  Establish the contribution rate for outside employees which shall be equal to one percent of payroll less than the normal cost contribution rate established pursuant to subdivision (4) of this section; and

  (6)  Establish such rules and regulations as may be necessary to carry out the purposes of this section.

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(L. 2001 S.B. 371)

*This section was amended by S.B. 62, 2017, effective 7-01-18.  Due to the delayed effective date, both versions of this secton are published here.