16 CSR 10-3.020 Management of Funds

Title 16—RETIREMENT SYSTEMS
Division 10—The Public School Retirement System of Missouri
Chapter 3—Funds of Retirement System

PROPOSED AMENDMENT 16 CSR 10-3.020 Management of Funds. The Public School Retirement System of Missouri is amending section (7).

Summary:

This amendment changes the timing of the application of a change in the interest rate used to credit interest to member accounts.

Proposed Rule: 

(7) The board of trustees shall determine annually, on or before June 30, the rate of interest which shall be in effect on July 1 of the following fiscal year and which shall be used to credit[ed] interest to members’ accumulated contribution accounts at the end of the following fiscal year. AUTHORITY: section 169.020, RSMo [Supp. 2011] 2016. Original rule filed Dec. 19, 1975, effective Jan. 1, 1976. For intervening history, please consult the Code of State Regulations. Amended: Filed Jan. 4, 2019. PUBLIC COST: This proposed amendment will not cost state agencies or political subdivisions more than five hundred dollars ($500) in the aggregate. PRIVATE COST: This proposed amendment will not cost private entities more than five hundred dollars ($500) in the aggregate.

MO State Register