Adoption of plans.

Kansas City Code § 2-1363

in effect

Sec. 2-1363. - Adoption of plans. (a) Authorization to adopt plans. The board, on behalf of the city and pursuant to the program is authorized to adopt, continue, cancel or allow to lapse a plan or plans, including the plans that the city has contracted for as of the date of the current amendments to sections 2-1361 through 2-1365, subject to the following restrictions: (1) No city funds are to be contributed pursuant to the program. (2) The city shall not be responsible for any loss due to the investment or failure of the investment of funds and assets held pursuant to the program, nor shall the city be required to replace any loss whatsoever which may result from such investments, or failure to make investments. (3) All contributions pursuant to this program, together with interest, accumulations and increments thereon, shall be contributed to and held under the trust for the exclusive benefit of the participants until such time as such funds or assets are distributed to participants and beneficiaries in accordance with the provisions of a plan. (b) Salary reduction agreements. The director of finance of the city, or the director's duly authorized representative, is hereby authorized to enter into salary reduction agreements with an employee, whereby an employee designates a portion of the employee's failure compensation to be deducted by the city and transferred to the trust to provide tax sheltered retirement benefits to the employee upon the employee's retirement pursuant to a plan. (Ord. No. 980479, § 1, 5-21-98; Ord. No. 140976, § 5, 12-11-14)

Source: City of Kansas City, Missouri, Code of Ordinances, Charter and Zoning and Development Code (Municode Library, library.municode.com)URL: https://library.municode.com/mo/kansas_city/codes/code_of_ordinances?nodeId=PTIICOOR_CH2AD_ARTIXPEOTBE_DIV7EMSARESHANREPL_S2-1363ADPLFetched: 10/28/2026