Fayette Employees Retirement System ordinance (§ 110.230)

A. Be it ordained that the Board of Aldermen of the City of Fayette, an employer under the Missouri Local Government Employees Retirement System (LAGERS), hereby elects the following:

1. To adopt no change in the contributions from covered employees, keeping the requirement of no contributions from covered employees in accordance with the provisions of Sections 70.705 and 70.730, RSMo.

2. To adopt no change in the method of determining a member's final average salary, keeping a sixty (60) consecutive month period for determining a member's monthly salary in accordance with Sections 70.600 and 70.656, RSMo.

3. To adopt a change in the Benefit Program of covered employees, changing to Benefit Program L-7 in accordance with Section 70.655, RSMo.

4. To adopt no change in the retirement age provision of covered employees, keeping member employees option of retirement under the "80 and out" option in accordance with Sections 70.600, 70.645 and 70.646, RSMo.