Prior to the adoption of Ord. 018160 on 07/06/2004, Section 18-22 read as follows.


    (a)     The finance director director of finance shall serve as administrator for the police retirement fund and firefighters' retirement fund and of all assets, payments and deposits made or received from prior plans. The finance director director of finance shall keep the books and records of the plans and cause them to be audited annually by an independent auditor as part of the city's annual audit.  The director of finance shall annually prepare and have available as public information for each plan, a comprehensive annual financial report showing the financial condition of the plan as of the end of the plan’s fiscal year in accordance with section 105.661 RSMo.

The finance director director of finance shall have such duties and all powers as may be necessary to discharge the duties of plan administrator hereunder, including, but not by way of limitation, full and complete discretionary authority to construe and interpret the provisions of the plans and to determine make the initial determination of the right of any person to any interest in or eligibility for any benefit under the plans. The finance director director of finance may adopt such rules as deemed necessary, desirable or appropriate to implement the police retirement plan and the firefighters’ retirement plan. All rules and decisions of the finance director director of finance shall be uniformly and consistently applied to all covered employees in similar circumstances. When making a determination or calculation, the finance director director of finance shall be entitled to rely upon information furnished by a covered employee or beneficiary, the city, the legal counsel of the city, or the actuary. The finance director director of finance shall issue directions concerning all benefits which are to be paid from the trust fund pursuant to the provisions of the plans. The finance director director of finance may require a covered employee to complete and file with the finance director director of finance an application for pension and all other forms approved by the finance director director of finance, and to furnish all pertinent information requested by the finance director director of finance.

    (b)     As of December 7, 1981, t The finance director director of finance shall account for, separately:

     (1)    Those assets necessary to maintain the actuarial and financial soundness of the police retirement fund,

    (2)    Those assets necessary to maintain the actuarial and financial soundness of the firefighters' retirement fund.

As t These funds are subject to the laws of the state and the ordinances and charter of the city, they shall at all times be invested in a manner consistent with those the laws, of the United States and the state of Missouri and the ordinances and charter of the city provisions.

    (c)     Nothing herein shall be deemed to in this article requires segregation of assets nor to permits or authorizes the partition of fund assets by the boards of the respective funds.

    (d)     All assets of the funds created by this article, and all assets necessary to maintain the obligations of past funds, may be jointly invested with profits, losses, income and charges with respect thereto being received, borne, or shared by the funds in proportion to the amount of the assets invested by the fund or past fund.

    (e)     Whenever, in the director of finance's opinion, a person entitled to receive any payment of a fund benefit or installment thereof hereunder is under a legal disability or is incapacitated in any way so as to be unable to manage his personal financial affairs, the director of finance may make payments to such person or to the person’s his legal representative or to a relative. Any payment of a benefit or installment thereof in accordance with the provisions of this section shall be a complete discharge of any liability for the making of such payment under the provisions of the plans.

(Code 1964, § 9.1690; Ord. No. 12868, § 1, 2-4-91)