Missouri Revised Statutes













Chapter 50

County Finances, Budget and Retirement Systems

←50.1220

Section 50.1230.1

50.1240→

August 28, 2015

Matching contributions by board, when, rules--matching contributions by county, when.

50.1230. 1. The board, in its sole discretion, shall determine if it

will make matching contributions for a calendar year and the aggregate amount

of the contribution. Each member who makes contributions to the deferred

compensation program described in section 50.1300 during the calendar year

for which the contribution is made shall be eligible to receive an allocation

of this contribution. Generally, the board shall allocate matching

contributions pro rata, on the basis of a member's contributions to the

deferred compensation program described in section 50.1300. However, the

board shall follow these rules in making this allocation:



(1) Board matching contributions allocated to a member who is not a

member of LAGERS shall not exceed the lesser of (i) three percent of such

nonLAGERS member's compensation for the calendar year or (ii) fifty percent

of such nonLAGERS member's contributions to the deferred compensation program

described in section 50.1300;



(2) Board matching contributions allocated to a member who is a member

of LAGERS shall not exceed the lesser of (i) one and one-half percent of such

member's compensation for the calendar year or (ii) twenty-five percent of

such member's contributions to the deferred compensation program described in

section 50.1300;



(3) The board shall set a specific matching percentage for each calendar

year. Unless otherwise provided in subdivision (1) of this subsection, the

matching contribution allocated to a nonLAGERS member shall be such matching

percentage, multiplied by the member's contributions to the deferred

compensation program for the calendar year. Unless otherwise provided in

subdivision (2) of this subsection, the board matching contribution allocated

to a member who is also a LAGERS member shall be one-half of the matching

percentage, multiplied by the member's contributions to the deferred

compensation program for the calendar year.



2. In addition to matching contributions made by the board pursuant to

the aforementioned criteria, a county shall also be entitled to make matching

contributions to defined contribution accounts of members employed by such

county in accordance with the rules and regulations formulated and adopted by

the board from time to time.



(L. 1999 S.B. 308 & 314 merged with S.B. 467, A.L. 2001 S.B. 274)



Effective 1-01-02





2000



2000



50.1230. The board, in its sole discretion, shall determine if it

will make matching contributions for a calendar year and the aggregate

amount of the contribution. Each member who makes contributions to the

deferred compensation program described in section 50.1300 during the

calendar year for which the contribution is made shall be eligible to

receive an allocation of this contribution. Generally, the board shall

allocate matching contributions pro rata, on the basis of a member's

contributions to the deferred compensation program described in section

50.1300. However, the board shall follow these rules in making this

allocation:



(1) Contributions allocated to a member who is not a member of LAGERS

shall not exceed the lesser of (i) three percent of such nonLAGERS member's

compensation for the calendar year or (ii) fifty percent of such nonLAGERS

member's contributions to the deferred compensation program described in

section 50.1300;



(2) Contributions allocated to a member who is a member of LAGERS

shall not exceed the lesser of (i) one and one-half percent of such

member's compensation for the calendar year or (ii) twenty-five percent of

such member's contributions to the deferred compensation program described

in section 50.1300;



(3) The board shall set a specific matching percentage for each

calendar year. Unless otherwise provided in subdivision (1) of this

section, the matching contribution allocated to a nonLAGERS member shall be

such matching percentage, multiplied by the member's contributions to the

deferred compensation program for the calendar year. Unless otherwise

provided in subdivision (2) of this section, the matching contribution

allocated to a member who is also a LAGERS member shall be one-half of the

matching percentage, multiplied by the member's contributions to the

deferred compensation program for the calendar year.



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