Missouri Laws 287.845 – Administration of retirement system and funds
1. The board shall administer the provisions of sections 287.812 to 287.855 and shall have the same powers, duties, and obligations in regard to the funds and the system provided for in such sections as it has in regard to the Missouri state employees’ retirement system. The system shall calculate the annuity for an administrative law judge or legal advisor, as defined in section 287.812 based on the law in effect at the time the administrative law judge’s or legal advisor’s employment was terminated.
2. The commissioner of administration, the state treasurer, and the secretary of the Missouri state employees’ retirement system shall perform the same duties in regard to the retirement system established pursuant to the provisions of sections 287.812 to 287.855 that are prescribed for such officers in sections 104.436 and 104.438 in regard to the Missouri state employees’ retirement system. Funds so certified and transferred for the retirement system established pursuant to the provisions of sections 287.812 to 287.855 shall be deposited in a separate account of the Missouri state employees’ retirement fund and shall be disbursed only for the purposes of sections 287.812 to 287.855.
Terms Used In Missouri Laws 287.845
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- 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
3. As of April 26, 2005, the liabilities and assets of the administrative law judge’s and legal advisor’s retirement system shall be transferred and combined with the state employees’ retirement system. The contribution rate certified by the board under section 104.1066 for the state employees’ retirement system after April 26, 2005, shall include amounts necessary to cover the costs of the administrative law judge’s and legal advisor’s retirement system. This section and section 287.813 shall not affect the past, present, or future rights or benefits of administrative law judges and legal advisors participating in the administrative law judge’s and legal advisor’s retirement system prior to April 26, 2005, including their beneficiaries, spouses, or former spouses.