Missouri Revised Statutes
Chapter 105 - Public Officers and Employees — Miscellaneous Provisions
Section 105.688 - Investment fiduciaries, duties.

Effective - 28 Aug 1987
105.688. Investment fiduciaries, duties. — The assets of a system may be invested, reinvested and managed by an investment fiduciary subject to the terms, conditions and limitations provided in sections 105.687 to 105.689. An investment fiduciary shall discharge his or her duties in the interest of the participants in the system and their beneficiaries and shall:
(1) Act with the same care, skill, prudence, and diligence under the circumstances then prevailing that a prudent person acting in a similar capacity and familiar with those matters would use in the conduct of a similar enterprise with similar aims;
(2) Act with due regard for the management, reputation, and stability of the issuer and the character of the particular investments being considered;
(3) Make investments for the purposes of providing benefits to participants and participants' beneficiaries, and of defraying reasonable expenses of investing the assets of the system;
(4) Give appropriate consideration to those facts and circumstances that the investment fiduciary knows or should know are relevant to the particular investment or investment course of action involved, including the role of the investment or investment course of action plays in that portion of the system's investments for which the investment fiduciary has responsibility. For purposes of this subdivision, "appropriate consideration" shall include, but is not necessarily limited to a determination by the investment fiduciary that a particular investment or investment course of action is reasonably designed, as part of the investments of the system, to further the purposes of the system, taking into consideration the risk of loss and the opportunity for gain or other return associated with the investment or investment course of action; and consideration of the following factors as they relate to the investment or investment course of action:
(a) The diversification of the investments of the system;
(b) The liquidity and current return of the investments of the system relative to the anticipated cash flow requirements of the system; and
(c) The projected return of the investments of the system relative to the funding objectives of the system;
(5) Give appropriate consideration to investments which would enhance the general welfare of this state and its citizens if those investments offer the safety and rate of return comparable to other investments available to the investment fiduciary at the time the investment decision is made.
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(L. 1987 S.B. 20 § 2)

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Structure Missouri Revised Statutes

Missouri Revised Statutes

Title VIII - Public Officers and Employees, Bonds and Records

Chapter 105 - Public Officers and Employees — Miscellaneous Provisions

Section 105.005 - State officials and employees, annual salary adjustments, when, restrictions on, how appropriated — compensation schedule to be maintained, where, how — duty of revisor of statutes.

Section 105.006 - State officials and employees, effective date for salary adjustments, exception.

Section 105.010 - Terms of office.

Section 105.015 - Officer-elect, how determined for certain purposes — expenditure of transition funds not invalidated, when.

Section 105.020 - Governor to commission certain officers.

Section 105.030 - Vacancies, how filled.

Section 105.040 - United States senator — vacancy, how filled.

Section 105.050 - Vacancy in certain offices — how filled.

Section 105.055 - Reporting of mismanagement or violations of agencies, discipline of employee prohibited — appeal by employee from disciplinary actions, procedure — violation, penalties — civil action, when — auditor to investigate, when.

Section 105.058 - State agencies and officials not to prohibit communications between employees and the state auditor or legislators, exceptions.

Section 105.060 - Settlement of account with court.

Section 105.070 - Settlement to be entered of record.

Section 105.080 - Duplicate copies of record.

Section 105.090 - Payment to county treasurer of full amount.

Section 105.100 - Duplicate receipts for payment.

Section 105.110 - Delinquent settlements, how enforced.

Section 105.120 - Penalty on delinquents.

Section 105.130 - Treasurer to settle quarterly.

Section 105.145 - Political subdivisions to make annual report of financial transactions to state auditor — state auditor to report violations — collection of fines, exemption — downward adjustments to outstanding balances and penalties, when.

Section 105.150 - No state officer or clerk to deal in state stocks — penalty.

Section 105.160 - United States savings bonds — authorization for withholding.

Section 105.170 - Duties of commissioner of administration.

Section 105.180 - Termination of withholdings.

Section 105.190 - Incurrence of certain liabilities prohibited.

Section 105.200 - Warrant to represent sum withheld.

Section 105.201 - Office of administration to develop flexible benefit plan.

Section 105.202 - Flexible benefit plan for state employees, established and maintained by commissioner of administration — benefit options selected by state employee — minimum level of benefits required — benefit options offered.

Section 105.210 - Officer may call aid, when.

Section 105.230 - Officer liable to party injured, when.

Section 105.240 - Officers may break doors, when.

Section 105.255 - Discrimination in hiring based on educational programs prohibited, when.

Section 105.260 - Certain laws to apply to St. Louis.

Section 105.262 - No delinquent taxes, condition of state employment — annual check by department of revenue.

Section 105.264 - Administrative leave for misconduct, hearing required--school districts to inform board of education--employee given written notice of reason for leave, when.

Section 105.265 - Life insurance benefits, effect of active military duty.

Section 105.266 - Leave of absence granted, state employees, bone marrow or organ donation.

Section 105.267 - Red Cross and other emergency management agency recognized volunteers granted leave during disasters — procedure — definition — additional employees granted leave, when.

Section 105.269 - Retired teacher, certain districts, may return to teaching without losing retirement benefits — rulemaking authority.

Section 105.270 - Leave of absence to perform military duties mandatory — discrimination against militia members a misdemeanor — hours of leave, how computed.

Section 105.271 - Employee leave for adoptive parents and stepparents, when — leave-sharing program, donated leave — rulemaking authority.

Section 105.272 - Expenses of officers and employees of state and political subdivisions, procedure — cash advances authorized, when — procedure.

Section 105.273 - Definitions.

Section 105.274 - Facsimile signature on public securities, instruments, or contracts, effect.

Section 105.275 - Facsimile seal, use, effect.

Section 105.276 - Fraudulent use of facsimile signature or seal, penalty.

Section 105.277 - Uniformity of interpretation.

Section 105.278 - Short title.

Section 105.300 - Definitions.

Section 105.310 - Federal-state agreement — contents — services covered.

Section 105.320 - Contributions by state.

Section 105.330 - Agreements with bistate instrumentality, how made.

Section 105.340 - Contributions by state employees, liability for — collection.

Section 105.350 - Agreements between the state and its political subdivisions — contents.

Section 105.353 - Referendum on inclusion of members of existing retirement systems — notice — agreement for coverage.

Section 105.360 - Nonapproval or termination of plan — hearing.

Section 105.370 - Contributions by political subdivisions and employees — liability for.

Section 105.375 - Officer compensated solely by fees to reimburse county for contributions.

Section 105.390 - State treasurer as trustee of contributions — receipt, deposit and disposition of funds.

Section 105.400 - Certification and transfer of state's share — contribution fund.

Section 105.420 - Additional appropriations for federal payments authorized.

Section 105.430 - Rules and regulations — publication.

Section 105.450 - Definitions.

Section 105.452 - Prohibited acts by elected and appointed public officials and employees.

Section 105.453 - Paid political consulting, prohibited for statewide elected officials and members of general assembly.

Section 105.454 - Additional prohibited acts by certain elected and appointed public officials and employees, exceptions.

Section 105.455 - Six-month waiting period for certain elected or appointed officials — limited to compensated lobbyists — exemptions — definitions.

Section 105.456 - Prohibited acts by members of general assembly and statewide elected officials, exceptions.

Section 105.458 - Prohibited acts by members of governing bodies of political subdivisions, exceptions.

Section 105.461 - Interest in measure, bill, or ordinance to be recorded — financial interest statement.

Section 105.462 - Prohibited acts by persons with rulemaking authority — appearances — exceptions.

Section 105.464 - Prohibited acts by persons in judicial or quasi-judicial positions.

Section 105.465 - Dissolution of candidate committee required, when — disbursement of moneys, limitations — definitions.

Section 105.466 - Exceptions to applicability of sections 105.450 to 105.458, 105.462 to 105.468, and 105.472 to 105.482.

Section 105.467 - Discharge and discrimination prohibited, reasons — reinstatement.

Section 105.470 - Definitions.

Section 105.472 - Violation of law — complaint — oath.

Section 105.473 - Duties of lobbyist — report required, contents — exception — penalties — supersession of local ordinances or charters.

Section 105.475 - Lobbyist exceptions.

Section 105.476 - Applicability of other provisions of law — additional standards.

Section 105.477 - Electronic filing, lobbying reports — information to be made available, to whom — internet website connection, when.

Section 105.478 - Penalty.

Section 105.482 - Severability.

Section 105.483 - Financial interest statements — who shall file, exception.

Section 105.485 - Financial interest statements — form — contents — political subdivisions, compliance — redaction of certain information, when.

Section 105.487 - Financial interest statements — filed, when, exception.

Section 105.489 - Financial interest statements — to be kept with filing officer.

Section 105.491 - Executive director of commission — duties.

Section 105.492 - Penalties.

Section 105.494 - Governor — appointment to certain boards or commissions prohibited.

Section 105.496 - Permanent select committee on ethics.

Section 105.498 - Out-of-state travel costs for full-time employees, reporting requirements.

Section 105.500 - Definitions.

Section 105.503 - Applicability — exceptions — federal law supersedes, when.

Section 105.505 - Dues and fees — requirements for nonmembers — authorization of nonmember not a condition of employment — financial records to be maintained, requirements — agency shop defined.

Section 105.510 - Certain public employees may join labor organizations and bargain collectively — exceptions — discharge or discrimination for exercise of right prohibited — allowable organizations for excepted employees.

Section 105.525 - Issues as to appropriate bargaining units and majority representative status to be decided by board — appeal to circuit court.

Section 105.530 - Law not to be construed as granting right to strike.

Section 105.533 - Constitution and bylaws, requirements — financial report, contents — definitions.

Section 105.535 - Officer and employee report, certain financial disclosures required.

Section 105.537 - Attorney-client information not to be included in reports, when.

Section 105.540 - Reports deemed public records — department regulations.

Section 105.545 - Maintenance of records, requirements.

Section 105.550 - Filing of reports, when.

Section 105.555 - Fines for false statements, misrepresentations, tampering with records, and failure to file reports.

Section 105.570 - Supervisory public employees, separate bargaining unit — labor organization not to represent nonsupervisory and supervisory public employees — definition.

Section 105.575 - Representation of bargaining unit, procedure, election — decertification, procedure — fees for election.

Section 105.580 - Bargaining agreement, procedure — renewal — term of agreement, limitation.

Section 105.583 - Tentative agreement, requirements.

Section 105.585 - Labor agreements, limitations on.

Section 105.590 - Copies of agreement provided to public employees.

Section 105.595 - Civil action for violations.

Section 105.598 - Rulemaking authority.

Section 105.600 - Definitions.

Section 105.610 - Employers authorized to exchange employees — length of exchange period, exception — elected officials exempted.

Section 105.620 - Status of exchanged employees.

Section 105.630 - Travel expenses during assignment.

Section 105.640 - Employees detailed to this state — qualifications waived — supervision by agreement — death or disability of.

Section 105.650 - Travel expenses of persons assigned to this state.

Section 105.660 - Definitions, retirement benefit changes.

Section 105.661 - All retirement plans to prepare financial report, content audit by state auditor and joint committee on public employee retirement — rules submitted to joint committee on public employee retirement, when — report required.

Section 105.662 - Public pension funds not to be commingled — trusteeship.

Section 105.663 - Retirement plan may appoint attorney as legal advisor.

Section 105.664 - Actuarial valuation performed at least biennially — forwarded to joint committee on public employee retirement, when.

Section 105.665 - Cost statement of proposed changes prepared by actuary — contents.

Section 105.666 - Board member education program, curriculum, requirements — annual pension benefit statement required.

Section 105.667 - Gain or profit from funds or transactions of plan, prohibited when.

Section 105.669 - Felony conviction, ineligible for benefits, when — employer to notify of offenses, when — list of offenses.

Section 105.670 - Cost statement available for inspection — effect of changes (general assembly).

Section 105.675 - Cost statement available for inspection (political subdivisions).

Section 105.679 - Contact information for retired members to be provided, when (St. Louis City).

Section 105.680 - Expenses for cost statements, how paid.

Section 105.683 - Plan deemed delinquent, when, effect of.

Section 105.684 - Benefit increases prohibited, when — amortization of unfunded actuarial accrued liabilities — accelerated contribution schedule required, when.

Section 105.685 - Effective date of changes.

Section 105.687 - Definitions.

Section 105.688 - Investment fiduciaries, duties.

Section 105.689 - Investment fiduciary may make investments in certain countries.

Section 105.690 - Selection of fiduciaries, preference to Missouri firms.

Section 105.691 - Definitions — agreements to transfer service between plans — election to transfer — transfer of service, determination of value — amount due, payment period — effect of transfer — transfer not to result in receipt of benefits under...

Section 105.702 - Minority and women money managers, brokers, and investment counselors, procurement action plan required — annual report.

Section 105.711 - Legal expense fund created — officers, employees, agencies, certain health care providers covered, procedure — rules regarding contract procedures and documentation of care — certain claims, limitations — funds not transferable to g...

Section 105.712 - Dental primary care and preventative health services.

Section 105.713 - Report to general assembly, settlements and judgments paid from legal expense fund — contents.

Section 105.716 - Attorney general to handle claims, exceptions — certain departments to reimburse fund — prior to settlement, payment of certain legal expenses authorized, when.

Section 105.721 - Fund may be used to purchase insurance against liabilities — report — surety bonds, judicial acts or omissions.

Section 105.725 - Confidentiality agreement, not to be required for claims paid.

Section 105.726 - Law, how construed — moneys unavailable, when — representation by attorney general, when.

Section 105.800 - State employee defined.

Section 105.810 - All employees covered — option to self-insure or purchase coverage — duties of attorney general — legal expenses, how paid.

Section 105.820 - Option, who shall exercise.

Section 105.830 - State employees already covered by workers' compensation not affected by sections 105.800 to 105.850.

Section 105.840 - Legislators, certain travel covered.

Section 105.850 - Sovereign immunity not waived.

Section 105.900 - Employee defined — limitations — tax exempt, when.

Section 105.905 - Deferred payment agreements authorized — funds, how invested.

Section 105.910 - Fund established — commission established, selection of members, qualifications, meetings, when held — transfer of administration of fund.

Section 105.915 - Board to administer plan — written agreement required — immunity from liability, when — automatic designation of surviving spouse as primary beneficiary, when.

Section 105.925 - Participation in plans requires written agreement — funding — other plans not precluded.

Section 105.927 - State's contribution to participants in deferred compensation program.

Section 105.935 - Overtime hours, state employee may choose compensatory leave time, when — payment for overtime, when — corrections employees, options — reports on overtime paid — overtime earned under Fair Labor Standards Act, applicability.

Section 105.950 - Compensation of certain department heads.

Section 105.955 - Ethics commission established — appointment — qualifications — terms — vacancies — removal — restrictions — compensation — administrative secretary — filings required — investigators — powers and duties of commission — advisory opin...

Section 105.956 - Advisory opinion, withdrawn, when.

Section 105.957 - Receipt of complaints — form — investigation — dismissal of frivolous complaints, damages, public report.

Section 105.958 - Designated decision-making public servant, notification.

Section 105.959 - Review of reports and statements, notice — audits and investigations — formal investigations — report — referral of report.

Section 105.961 - Special investigator — report — commission review, determination — special prosecutor — hearings — action of commission — formal proceedings — appropriate disciplinary authorities — powers of investigators — fees and expenses — conf...

Section 105.962 - Position created in ethics commission for electronic reporting system management.

Section 105.963 - Assessments of committees, campaign disclosure reports — notice — penalty — assessments of financial interest statements — notice — penalties — effective date.

Section 105.964 - Deadline for filing of reports extended, when — no extension, when.

Section 105.966 - Ethics commission to complete all complaint investigations, procedure, hearing for time extension, when — applicability to ongoing investigations.

Section 105.967 - Lobbyists not to serve on certain commissions.

Section 105.969 - Executive branch code of conduct — adoption.

Section 105.973 - Summary of ethics, lobbying and campaign finance laws, commission to print and make available — candidate to verify receipt of summary, when.

Section 105.975 - Signature not required, when.

Section 105.977 - Attorney general to represent commission, exception.

Section 105.981 - Rules, effective, when — rules invalid and void, when.

Section 105.1000 - Definition.

Section 105.1003 - Deduction from compensation for life insurance plan to be included as regular compensation in computing retirement benefits.

Section 105.1005 - Withholding part of gross compensation of employees to fund plan.

Section 105.1006 - Funds to be deposited in Missouri state employees voluntary life insurance fund — lapse into general revenue prohibited.

Section 105.1012 - Commission's duties to establish life insurance plan — with payroll deduction by participating employees — plan to be based on competitive bidding — bid to include cost of administration.

Section 105.1015 - Cities, counties and other political subdivisions may establish for employees a voluntary life insurance plan.

Section 105.1017 - Funds to be deposited with consent of participating employees and as designated by governing body with approved life insurance company.

Section 105.1020 - Political subdivisions may establish and administer other life insurance plans.

Section 105.1070 - State-controlled motor vehicles, aircraft and marine vessels, liability insurance for operators of to be provided.

Section 105.1073 - Liability coverage to be provided — amounts of coverage.

Section 105.1075 - Eligible insurers — department of commerce and insurance to approve policies.

Section 105.1077 - Definitions.

Section 105.1079 - No waiver of sovereign immunity intended.

Section 105.1100 - Citation of law.

Section 105.1102 - Definitions.

Section 105.1105 - First conviction of employee for use of drugs, certified drug abuse treatment and education requirement — failure to comply, suspension and dismissal — employee in compliance to be returned to position or comparable status.

Section 105.1108 - Second conviction or subsequent time for use of drugs to be dismissed — requirements for rehiring.

Section 105.1110 - Employee's right of appeal, record of termination or suspension to be closed records.

Section 105.1112 - Applicant for public employment who has been convicted of drug abuse within three years of applying, requirements.

Section 105.1114 - Administrative rules to be provided by state personnel advisory board, procedure.

Section 105.1116 - Law not applicable to peace officers or employees in safety-sensitive positions, definitions.

Section 105.1155 - Public employees not required by political subdivisions to receive COVID-19 vaccinations — exceptions.

Section 105.1200 - Guidelines for standardized audits, additional information may be requested.

Section 105.1204 - Missouri National Guard members offered interview for state agency positions, when.

Section 105.1209 - State agencies prohibited from requiring certain educational certificates as condition of employment.

Section 105.1210 - Title.

Section 105.1213 - Failure to register, ineligibility for state employment and certain state education assistance.

Section 105.1216 - Hiring authorities to verify registration.

Section 105.1270 - No conflict of interest for state — authorized tax credits, abatements, exemptions, or loans, when.

Section 105.1415 - Volunteer not considered employee, when.

Section 105.1445 - Notice to public employees, eligibility for loan forgiveness — public employers to adopt policy, notice.

Section 105.1500 - Citation of law — definitions — public agencies, personal information disclosures, not required, when — exceptions — violations, remedies.