86.153. Contributions to and payments from such fund.
Contributions to and payments from such fund.
86.153. Contributions to and payments from the pensionaccumulation fund shall be as follows: On account of each memberthere shall be paid annually into the pension accumulation fundby the said cities an amount equal to a certain percentage of theearnable compensation of the member to be known as "the normalcontribution" and an additional amount equal to a percentage ofhis earnable compensation to be known as "the accrued liabilitycontribution". The rates percent of such contributions shall befixed on the basis of the liabilities of the retirement system asshown by actuarial valuations. Until the first valuation thenormal contribution shall be five and thirty-one one-hundredthspercent and the accrued liability contribution four andforty-nine one-hundredths percent of the earnable compensation ofall members.
(RSMo 1939 § 9471)Prior revision: 1929 § 8913