Missouri Laws 285.1005 – Board established, members, terms, expenses, quorum
1. The “Show-Me MyRetirement Savings Board” is hereby established in the office of the state treasurer.
2. The board shall consist of the following members, with the state treasurer, or his or her designee, serving as chair:
Terms Used In Missouri Laws 285.1005
- Advice and consent: Under the Constitution, presidential nominations for executive and judicial posts take effect only when confirmed by the Senate, and international treaties become effective only when the Senate approves them by a two-thirds vote.
- following: when used by way of reference to any section of the statutes, mean the section next preceding or next following that in which the reference is made, unless some other section is expressly designated in the reference. See Missouri Laws 1.020
- President pro tempore: A constitutionally recognized officer of the Senate who presides over the chamber in the absence of the Vice President. The President Pro Tempore (or, "president for a time") is elected by the Senate and is, by custom, the Senator of the majority party with the longest record of continuous service.
- Quorum: The number of legislators that must be present to do business.
- State: when applied to any of the United States, includes the District of Columbia and the territories, and the words "United States" includes such district and territories. See Missouri Laws 1.020
(1) The state treasurer, or his or her designee;
(2) An individual who has skill, knowledge, and experience in the field of retirement savings and investments, to be appointed by the governor with the advice and consent of the senate;
(3) An individual who has skill, knowledge, and experience relating to small business, to be appointed by the governor with the advice and consent of the senate;
(4) Three members of the house of representatives, to be appointed by the speaker of the house of representatives, to include one representative from the minority party; and
(5) Three members of the senate, to be appointed by the president pro tempore of the senate, to include one senator from the minority party.
3. The governor, the president pro tempore of the senate, and the speaker of the house of representatives shall make the respective initial appointments to the board for terms of office beginning on January 1, 2024.
4. Members of the board appointed by the governor, the president pro tempore of the senate, and the speaker of the house of representatives shall serve at the pleasure of the appointing authority.
5. The term of office of each member of the board shall be four years. Any member is eligible to be reappointed. If there is a vacancy for any reason, the appropriate appointing authority shall make an appointment, to become immediately effective, for the unexpired term.
6. All members of the board shall serve without compensation and shall be reimbursed from the administrative fund for necessary travel expenses incurred in carrying out the duties of the board.
7. A majority of the voting members of the board shall constitute a quorum for the transaction of business.