Missouri Revised Statutes













Chapter 87

Firemen's Retirement and Relief Systems

←87.325

Section 87.330.1

87.335→

August 28, 2015

Normal contribution rate, determination of.

87.330. On the basis of the interest rate and of such mortality and

other tables as shall be adopted by the board of trustees, the actuary 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 the interest rate and the mortality and service

tables adopted by the board of trustees. The normal rate of contribution

shall be determined by the actuary after each valuation.



(L. 1943 p. 708 § 8, A.L. 1959 S.B. 314 § 86.590)







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