Mo. Rev. Stat. § 105.1017: Funds to be deposited with consent of participating employees and as designated by governing body with approved life insurance company.

For purposes of funding such agreements between the city, county, institution, or other such political subdivision and the participating employees, the agency or department as designated by the governing body to establish and administer such plans may deposit such funds, with the consent of the participating employee, with the approved life insurance company deemed appropriate by such governing body.