Mo. Rev. Stat. § 50.1031
This is the official text of Mo. Rev. Stat. § 50.1031, part of Missouri’s Rev. Stat — part of the compiled statutory law of Missouri, published by the state as "Rev. Stat." Browse the sections below, each linked to its official government source.
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50.1031 Benefit adjustments, required assets-to-liability ratio — frequency of ...
Official statutory text
50.1031. Benefit adjustments, required assets-to-liability ratio — frequency of adjustments — effective date of adjustments. — 1. No adjustments may be made until the fund has achieved a funded ratio of assets to the actuarial accrued liability equaling at least eighty percent. No benefit adjustment shall be adopted which causes the funded ratio to fall more than five percent.
2. Adjustments may be made no more frequently than once every twelve months.
3. Any adjustment or combination of adjustments within a twelve-month period may increase the actuarially determined, normally required annual contribution as a percentage of payroll no more than one percent.
4. Adjustments, other than those in subdivision (3) of subsection 9 of section 50.1030 , will apply only with respect to active employees on the effective date of any adjustment.
(L. 2005 H.B. 58 merged with S.B. 210)
2. Adjustments may be made no more frequently than once every twelve months.
3. Any adjustment or combination of adjustments within a twelve-month period may increase the actuarially determined, normally required annual contribution as a percentage of payroll no more than one percent.
4. Adjustments, other than those in subdivision (3) of subsection 9 of section 50.1030 , will apply only with respect to active employees on the effective date of any adjustment.
(L. 2005 H.B. 58 merged with S.B. 210)
Status: in_force · Read it on the official government site
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