[Ord. No. 682 §§1 — 5, 12-20-1993; Ord. No. 684 §§1 — 5, 2-7-1994; Ord. No. 763 §1, 12-23-2002]
A. 
The Board of Aldermen of the City of Hayti, Missouri, a political subdivision as defined in Sections 70.600 through 70.760, RSMo., as amended, hereby elects and authorizes the appropriate governmental officials of the City to have covered by the Missouri Local Government Employees' Retirement System all of its eligible present and future employees and to cover such employees under Benefit Program L-3 (1¼%).
B. 
One hundred percent (100%) of prior employment be considered for prior service credit in commuting benefits and contributions to the system and further that all employees with one thousand five hundred (1,500) or more hours of annual employment, who are not excluded by State law, to be considered eligible employees.
C. 
The "final average salary" of its employee members shall be determined over a sixty (60) consecutive month period.
D. 
A four percent (4%) contribution from covered employees to the Missouri Local Government Employees' Retirement System shall be required from covered employees.
E. 
The appropriate physical officer of the City of Hayti, Missouri, is hereby authorized and directed to deduct from the wages and salaries of each employee member, the contributions, if any, required by Section 70.705, RSMo., and to remit promptly the deductions to the retirement system, together with the employer contributions required by Sections 70.705 and 70.730, RSMo., as amended, and that contributions are to be effective the first (1st) day of January, 1994.