Missouri Revised Statutes













Chapter 86

Police Relief and Pension Systems

←86.153

Section 86.157.1

86.160→

August 28, 2015

Actuary to determine normal contribution rate.

86.157. 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







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