104.070. Board to submit estimate of amounts to be contributed by state--included in appropriation request.
Board to submit estimate of amounts to be contributed bystate--included in appropriation request.
104.070. At least ninety days before each regular session ofthe general assembly, the board shall certify to each departmentan actuarially determined estimate of the respective shares ofeach employer in the amount which will be necessary during thenext appropriation period to pay all liabilities which shallexist or accrue under sections 104.010 to 104.270 during suchperiod. The estimate shall be computed upon a level percentageof payroll compensation to cover the normal cost. To theestimate actuarially computed there shall be added the additionalpayment of ninety dollars per month due those retired members ofthe highway patrol who have not attained the age of sixty-fiveyears. Each department shall include in its budget and in itsrequest for appropriations for personal service, the sum socertified to it by the board, and shall present the same to thegeneral assembly for allowance. The sums so certified andappropriated, when available, shall be paid to the system anddeposited in the transportation department employees' andhighway patrol retirement and benefit fund. Such contributionsand contributions previously made by members are the funds of thesystem and shall not be commingled with any funds in the statetreasury.
(L. 1955 p. 718 § 16, A.L. 1972 S.B. 650, A.L. 1976 H.B. 1211, A.L. 1983 H.B. 713 Revision)