Chapter 18 PENSIONS*
Section 18-39 Creation of police retirement plan and fund.
There is hereby created
, pursuant to the constitution and laws of Missouri,
retirement plan for the retirement of covered
plan of retirement include
benefits paid on account of age
death. In order to maintain such benefits,
a police retirement fund is hereby created and shall be maintained as the council deems
appropriate from public funds appropriated by the council, from the contributions of covered
employees and from such other funds and sources as have been previously set forth.
This fund shall be a trust, within the meaning of section 401(a) of the Code,
created for the
exclusive benefit of covered
, their spouses and minor children. At no
time prior to the satisfaction of all liabilities with respect to covered
and their beneficiaries under the trusts, shall any part of the corpus or income be used
for, or diverted to, purposes other than for the exclusive benefit of covered
or their beneficiaries.
Except as otherwise provided in this plan, the trust fund shall be retained for the exclusive
benefit of covered employees and their beneficiaries, shall be used to pay benefits to such
persons, to pay administrative expenses to the extent not paid by the city, and shall not revert to
or inure to the benefit of the city.
(Code 1964, § 9.1760; Ord. No. 12868, § 1, 2-4-91; Ord. No. 018160, § 1, 7-6-04)
(Ord. 018160, Amended, 07/06/2004, Prior Text)