321.800. Retirement plan, board may establish.
Retirement plan, board may establish.
321.800. Notwithstanding any other law to the contrary, any board ofdirectors established under the provisions of this chapter administeringits own retirement or other benefits-related plan shall administer suchplan by a separate five-member pension board of trustees. Pension planparticipants shall elect three such participants to be submitted to theboard of directors. The board of directors shall select two of the threeparticipants to serve on the five-member pension board of trustees. Theboard of directors shall be the other three members of the five-memberpension board of trustees.
(L. 2007 S.B. 406)