Retirement, when--pensions, how computed--early retirement, when,pensions, how computed--disability retirement, when, pensions, howcomputed--death before retirement, effect of--beneficiary defined,benefits, how computed--retirants may become active, how--minimumbenefits, when.
169.460. 1. Any member may retire and receive a normal pension uponhis written application to the board of trustees setting forth at what timenot less than fifteen days nor more than one hundred eighty days subsequentto the execution and filing of such application he desires to be retired;provided, that the member at the time so specified for his retirementeither (a) shall have attained age sixty-five or (b) shall have attained anage which when added to the number of years of credited service of suchmember shall total a sum not less than eighty-five. For purposes ofcomputing any member's age under this section, the board shall, ifnecessary, add to his actual age any accumulated and unused days of sickleave included in his credited service.
2. Upon retirement pursuant to subsection 1 of this section, a membershall receive an annual pension payable in monthly installments equal tohis number of years of credited service multiplied by two percent of hisaverage final compensation subject to a maximum pension of sixty percent ofhis average final compensation.
3. A member who is not eligible for normal pension pursuant tosubsection 1 of this section but who has attained age sixty and has five ormore years of credited service may make application in the same manner aspursuant to subsection 1 of this section for an early pension. His earlypension shall be computed pursuant to subsection 2 of this section, butshall be reduced by five-ninths of one percent for each month such member'searly retirement date precedes the earliest date he could have received anormal pension pursuant to subsection 1 of this section had his servicecontinued.
4. Upon the written application of the member or of the employingboard, any active member who has five or more years of credited servicewith such board and does not qualify for a normal pension pursuant tosubsection 1 of this section may be retired by the board of trustees, notless than fifteen days and not more than one hundred eighty days nextfollowing the date of filing such application, and receive a disabilitypension, provided, that the medical board after a medical examination ofsuch member or such member's medical records shall certify that such memberis unable to further perform his duties due to mental or physicalincapacity, and that such incapacity is likely to be permanent and thatsuch member should be retired; or, provided the member furnishes evidenceof the receipt of disability benefits under the federal Old Age, Survivorsand Disability Insurance System of the Social Security Act. Thedetermination of the board of trustees in the matter shall be final andconclusive. A member being retired pursuant to this subsection who hasaccumulated unused vacation and sick leave may elect to have thecommencement of his disability pension deferred for more than one hundredeighty days during the period he is entitled to vacation and sick pay.
5. Upon retirement for disability, a member shall receive adisability pension until such time as he meets the requirements for anormal pension pursuant to subsection 1 of this section, at which time hisdisability pension will be deemed to be a normal pension. The member'sdisability pension shall be the larger of:
(1) A normal pension based on his credited service to the date of hisretirement for disability and calculated as if he were age sixty-five; or
(2) One-fourth of his average final compensation; except that suchbenefit shall not exceed the normal pension which he would have receivedupon retirement if his service had continued and he had satisfied theeligibility requirements of subsection 1 of this section and had his finalaverage compensation been unchanged.
6. Once each year during the first five years following retirementfor disability and once in every three-year period thereafter whilereceiving a disability pension, the board of trustees may, and shall,require any member receiving a disability pension who has not yet becomeeligible for a normal pension pursuant to subsection 1 of this section toundergo a medical examination at a place designated by the medical board orby a physician or physicians designated by such board. If any such memberreceiving a disability pension refuses to submit to such medicalexamination, his benefit may be discontinued until his withdrawal of suchrefusal, and if his refusal continues for one year, all rights in and tohis pension may be revoked by the board of trustees.
7. If the board of trustees finds that any member receiving adisability pension is engaged in or is able to engage in a gainfuloccupation paying more than the difference between his disability pensionplus benefits, if any, to which he and his family are eligible under thefederal Old Age, Survivors and Disability Insurance System of the SocialSecurity Act and the current rate of monthly compensation for the positionhe held at retirement, then the amount of his disability pension shall bereduced to an amount which together with the amount earnable by him shallequal such current rate of monthly compensation. The decisions of theboard of trustees in regard to such modification of disability benefitsshall be final and conclusive.
8. If any member receiving a disability pension is restored toservice as an employee, he shall again become an active member of theretirement system and contribute thereunder. His credited service at thetime of his retirement for disability shall be restored and the excess ofhis accumulated contributions at his retirement for disability over thetotal disability pension payments which he received shall be credited tohis account.
9. If a member with fewer than five years credited service ceases tobe an employee, except by death, he shall be paid the amount of hisaccumulated contributions in accordance with applicable provisions of theInternal Revenue Code.
10. If a member with five years or more credited service ceases to bean employee, except by death or retirement, he shall be paid on demand theamount of his accumulated contributions, or he may leave his accumulatedcontributions with the retirement system and be an inactive member andclaim a retirement benefit at any time after he reaches the minimum age forretirement, except that if such a member's accumulated contributions do notexceed the involuntary distribution limits under provisions of the InternalRevenue Code, the member must elect to become an inactive member withinthirty days of employment separation to avoid application of theinvoluntary distribution provisions of the Internal Revenue Code. When aninactive member presents his valid claim to the board of trustees, he shallbe granted a benefit at such time and for such amount as is availablepursuant to subsection 2 or 3 of this section in accordance with theprovisions of law in effect at the time his active membership ceased. Theaccumulated contributions of an inactive member may be withdrawn at anytime upon ninety days' notice or such shorter notice as is approved by theboard of trustees. If an inactive member dies before retirement, hisaccumulated contributions shall be paid to his designated beneficiary, ifliving, otherwise to the estate of the member. A member's accumulatedcontributions shall not be paid to him so long as he remains in service asan employee.
11. Any member upon retirement shall receive his pension payablethroughout life subject to the provision that if his death occurs before hehas received total benefits at least as large as his accumulatedcontributions at retirement, the difference shall be paid in one sum to hisdesignated beneficiary, if living, otherwise to the estate of the retiredmember.
12. Prior to the date of retirement pursuant to subsection 2, 3, or 4of this section, a member may elect to receive the actuarial equivalent ofhis pension in a lesser amount, payable throughout life under one of thefollowing options with the provision that:
Option 1. Upon his death, his pension shall be continued throughoutthe life of and paid to his beneficiary, or
Option 2. Upon his death, one-half of his pension shall be continuedthroughout the life of and paid to his beneficiary, or
Option 3. Upon his death, his pension shall be continued throughoutthe life of and paid to his beneficiary, provided that in the event hisdesignated beneficiary predeceases him, then his pension shall be adjustedeffective the first day of the month following the month in which hisdesignated beneficiary died to the amount determined pursuant to subsection2 or 3 of this section at the time of his retirement, or
Option 4. Upon his death, one-half of his pension shall be continuedthroughout the life of and paid to his beneficiary, provided that in theevent his designated beneficiary predeceases him, then his pension shall beadjusted effective the first day of the month following the month in whichhis designated beneficiary died to the amount determined pursuant tosubsection 2 or 3 of this section at the time of his retirement.
Option 5. Prior to age sixty-two the member will receive an increasedpension, where the total pension prior to age sixty-two is approximatelyequal to the pension after age sixty-two plus the member's estimatedfederal Social Security benefit, provided that the reduced pension afterage sixty-two is not less than one-half the pension the member could havereceived had no option been elected.
A member may elect a combination of Option l and Option 5, or Option 2 andOption 5. The survivor benefits payable to a beneficiary, other than thespouse of the retired member, under any of the foregoing options shall inno event exceed fifty percent of the actuarial equivalent of the pensiondetermined pursuant to subsection 2 or 3 of this section at the time ofretirement.
13. If an option has been elected pursuant to subsection 12 of thissection, and both the retired member and beneficiary die before receivingtotal benefits as large as the member's accumulated contributions atretirement, the difference shall be paid to the designated beneficiary ofthe person last entitled to benefits, if living, otherwise to the estate ofthe person last entitled to benefits.
14. If an active member dies while an employee and with five or moreyears of credited service and a dependent of the member is designated asbeneficiary to receive his accumulated contributions, such beneficiary may,in lieu thereof, request that benefits be paid under option 1, subsection12 of this section, as if the member had attained age sixty, if the memberwas less than sixty years of age at the time of his death, and had retiredunder such option as of the date of death, provided that under the samecircumstances a member may provide by written designation that benefitsmust be paid pursuant to option 1 to such beneficiary. In addition tobenefits received under option 1, subsection 12 of this section, asurviving spouse receiving benefits under this subsection shall receivesixty dollars per month for each unmarried dependent child of the deceasedmember who is under twenty-two years of age and is in the care of thesurviving spouse; provided, that if there are more than three suchunmarried dependent children one hundred eighty dollars shall be dividedequally among them. A "dependent beneficiary" for the purpose of thissubsection only shall mean either the surviving spouse or a person who atthe time of the death of the member was receiving at least one-half of hissupport from the member, and the determination of the board of trustees asto whether a person is a dependent shall be final.
15. In lieu of accepting the payment of the accumulated contributionsof a member who dies after having at least eighteen months of creditedservice and while an employee, an eligible beneficiary or, if no survivingeligible beneficiary, the unmarried dependent children of the member undertwenty-two years of age may elect to receive the benefits pursuant tosubdivision (1), (2), (3), or (4) of this subsection. An "eligiblebeneficiary" is the surviving spouse, unmarried dependent children undertwenty-two years of age or dependent parents of the member, if designatedas beneficiary. A "dependent" is one receiving at least one-half of hissupport from the member at his death.
(1) A surviving spouse who is sixty-two years of age at the death ofthe member or upon becoming such age thereafter, and who was married to themember at least one year, may receive sixty dollars per month for life. Aspouse may receive this benefit after receiving benefits pursuant tosubdivision (2) of this subsection;
(2) A surviving spouse who has in his or her care an unmarrieddependent child of the deceased member under twenty-two years of age mayreceive sixty dollars per month plus sixty dollars per month for each childunder twenty-two years of age but not more than a total of two hundredforty dollars per month;
(3) If no benefits are payable pursuant to subdivision (2) of thissubsection, unmarried dependent children under the age of twenty-two mayreceive sixty dollars each per month; provided that if there are more thanthree such children one hundred eighty dollars per month shall be dividedequally among them;
(4) A dependent parent upon attaining sixty-two years of age mayreceive sixty dollars per month as long as not remarried provided nobenefits are payable at any time pursuant to subdivision (1), (2), or (3)of this subsection. If there are two dependent parents entitled tobenefits, sixty dollars per month shall be divided equally between them;
(5) If the benefits pursuant to this subsection are elected and thetotal amount paid is less than an amount equal to the accumulatedcontributions of a member at his death, the difference shall be payable tothe beneficiary or the estate of the beneficiary last entitled to benefits.
16. If a member receiving a normal pension again becomes an activemember, his pension benefit payments shall cease during such membership andshall be resumed upon subsequent retirement together with such pensionbenefit as shall accrue by reason of his latest period of membership.Except as otherwise provided in section 105.269, RSMo, a retired member maynot receive a pension benefit for any month for which he receivescompensation from an employing board, except he may serve as a part-time ortemporary employee for not to exceed sixty days in any calendar yearwithout becoming a member and without having his pension benefitdiscontinued. A retired member may also serve as a member of the board oftrustees and receive any reimbursement for expenses allowed him because ofsuch service without becoming an active member and without having hispension benefit discontinued or reduced.
17. Upon approval of the board of trustees, any member may makecontributions in addition to those required. Any additional contributionsshall be accumulated at interest and paid in addition to the benefitsprovided hereunder. The board of trustees shall make such rules andregulations as it deems appropriate in connection with additionalcontributions including limitations on amounts of contributions and methodsof payment of benefits.
18. Notwithstanding any other provisions of this section, any memberretiring on or after age sixty-five who has five or more years of creditedservice shall be entitled to an annual pension of the lesser of (a) anamount equal to his number of years of credited service multiplied by onehundred twenty dollars, or (b) one thousand eight hundred dollars. Uponthe death of such member, any benefits payable to the beneficiary of suchmember shall be computed as otherwise provided.
(L. 1943 p. 805 § 6, A.L. 1949 p. 532, A.L. 1953 p. 438, A.L. 1957 p. 462, A.L. 1961 p. 384, A.L. 1965 p. 293, A.L. 1967 p. 263, A.L. 1972 H.B. 1266, A.L. 1973 S.B. 256, A.L. 1978 S.B. 542, A.L. 1979 S.B. 392, A.L. 1981 H.B. 33, et al., A.L. 1983 S.B. 3, A.L. 1986 H.B. 1216, A.L. 1987 H.B. 558, et al. merged with H.B. 384 Revision, A.L. 1988 H.B. 1100, et al., A.L. 1989 S.B. 146, A.L. 1990 H.B. 1347, et al., A.L. 2001 H.B. 660)
Retirement, when--pensions, how computed--early retirement, when,pensions, how computed--disability retirement, when, pensions, howcomputed--death before retirement, effect of--beneficiary defined,benefits, how computed--retirants may become active, how--minimumbenefits, when.
169.460. 1. Any member may retire and receive a normal pension uponhis written application to the board of trustees setting forth at what timenot less than fifteen days nor more than one hundred eighty days subsequentto the execution and filing of such application he desires to be retired;provided, that the member at the time so specified for his retirementeither (a) shall have attained age sixty-five or (b) shall have attained anage which when added to the number of years of credited service of suchmember shall total a sum not less than eighty-five. For purposes ofcomputing any member's age under this section, the board shall, ifnecessary, add to his actual age any accumulated and unused days of sickleave included in his credited service.
2. Upon retirement pursuant to subsection 1 of this section, a membershall receive an annual pension payable in monthly installments equal tohis number of years of credited service multiplied by two percent of hisaverage final compensation subject to a maximum pension of sixty percent ofhis average final compensation.
3. A member who is not eligible for normal pension pursuant tosubsection 1 of this section but who has attained age sixty and has five ormore years of credited service may make application in the same manner aspursuant to subsection 1 of this section for an early pension. His earlypension shall be computed pursuant to subsection 2 of this section, butshall be reduced by five-ninths of one percent for each month such member'searly retirement date precedes the earliest date he could have received anormal pension pursuant to subsection 1 of this section had his servicecontinued.
4. Upon the written application of the member or of the employingboard, any active member who has five or more years of credited servicewith such board and does not qualify for a normal pension pursuant tosubsection 1 of this section may be retired by the board of trustees, notless than fifteen days and not more than one hundred eighty days nextfollowing the date of filing such application, and receive a disabilitypension, provided, that the medical board after a medical examination ofsuch member or such member's medical records shall certify that such memberis unable to further perform his duties due to mental or physicalincapacity, and that such incapacity is likely to be permanent and thatsuch member should be retired; or, provided the member furnishes evidenceof the receipt of disability benefits under the federal Old Age, Survivorsand Disability Insurance System of the Social Security Act. Thedetermination of the board of trustees in the matter shall be final andconclusive. A member being retired pursuant to this subsection who hasaccumulated unused vacation and sick leave may elect to have thecommencement of his disability pension deferred for more than one hundredeighty days during the period he is entitled to vacation and sick pay.
5. Upon retirement for disability, a member shall receive adisability pension until such time as he meets the requirements for anormal pension pursuant to subsection 1 of this section, at which time hisdisability pension will be deemed to be a normal pension. The member'sdisability pension shall be the larger of:
(1) A normal pension based on his credited service to the date of hisretirement for disability and calculated as if he were age sixty-five; or
(2) One-fourth of his average final compensation; except that suchbenefit shall not exceed the normal pension which he would have receivedupon retirement if his service had continued and he had satisfied theeligibility requirements of subsection 1 of this section and had his finalaverage compensation been unchanged.
6. Once each year during the first five years following retirementfor disability and once in every three-year period thereafter whilereceiving a disability pension, the board of trustees may, and shall,require any member receiving a disability pension who has not yet becomeeligible for a normal pension pursuant to subsection 1 of this section toundergo a medical examination at a place designated by the medical board orby a physician or physicians designated by such board. If any such memberreceiving a disability pension refuses to submit to such medicalexamination, his benefit may be discontinued until his withdrawal of suchrefusal, and if his refusal continues for one year, all rights in and tohis pension may be revoked by the board of trustees.
7. If the board of trustees finds that any member receiving adisability pension is engaged in or is able to engage in a gainfuloccupation paying more than the difference between his disability pensionplus benefits, if any, to which he and his family are eligible under thefederal Old Age, Survivors and Disability Insurance System of the SocialSecurity Act and the current rate of monthly compensation for the positionhe held at retirement, then the amount of his disability pension shall bereduced to an amount which together with the amount earnable by him shallequal such current rate of monthly compensation. The decisions of theboard of trustees in regard to such modification of disability benefitsshall be final and conclusive.
8. If any member receiving a disability pension is restored toservice as an employee, he shall again become an active member of theretirement system and contribute thereunder. His credited service at thetime of his retirement for disability shall be restored and the excess ofhis accumulated contributions at his retirement for disability over thetotal disability pension payments which he received shall be credited tohis account.
9. If a member with fewer than five years credited service ceases tobe an employee, except by death, he shall be paid the amount of hisaccumulated contributions in accordance with applicable provisions of theInternal Revenue Code.
10. If a member with five years or more credited service ceases to bean employee, except by death or retirement, he shall be paid on demand theamount of his accumulated contributions, or he may leave his accumulatedcontributions with the retirement system and be an inactive member andclaim a retirement benefit at any time after he reaches the minimum age forretirement, except that if such a member's accumulated contributions do notexceed the involuntary distribution limits under provisions of the InternalRevenue Code, the member must elect to become an inactive member withinthirty days of employment separation to avoid application of theinvoluntary distribution provisions of the Internal Revenue Code. When aninactive member presents his valid claim to the board of trustees, he shallbe granted a benefit at such time and for such amount as is availablepursuant to subsection 2 or 3 of this section in accordance with theprovisions of law in effect at the time his active membership ceased. Theaccumulated contributions of an inactive member may be withdrawn at anytime upon ninety days' notice or such shorter notice as is approved by theboard of trustees. If an inactive member dies before retirement, hisaccumulated contributions shall be paid to his designated beneficiary, ifliving, otherwise to the estate of the member. A member's accumulatedcontributions shall not be paid to him so long as he remains in service asan employee.
11. Any member upon retirement shall receive his pension payablethroughout life subject to the provision that if his death occurs before hehas received total benefits at least as large as his accumulatedcontributions at retirement, the difference shall be paid in one sum to hisdesignated beneficiary, if living, otherwise to the estate of the retiredmember.
12. Prior to the date of retirement pursuant to subsection 2, 3, or 4of this section, a member may elect to receive the actuarial equivalent ofhis pension in a lesser amount, payable throughout life under one of thefollowing options with the provision that:
Option 1. Upon his death, his pension shall be continued throughoutthe life of and paid to his beneficiary, or
Option 2. Upon his death, one-half of his pension shall be continuedthroughout the life of and paid to his beneficiary, or
Option 3. Upon his death, his pension shall be continued throughoutthe life of and paid to his beneficiary, provided that in the event hisdesignated beneficiary predeceases him, then his pension shall be adjustedeffective the first day of the month following the month in which hisdesignated beneficiary died to the amount determined pursuant to subsection2 or 3 of this section at the time of his retirement, or
Option 4. Upon his death, one-half of his pension shall be continuedthroughout the life of and paid to his beneficiary, provided that in theevent his designated beneficiary predeceases him, then his pension shall beadjusted effective the first day of the month following the month in whichhis designated beneficiary died to the amount determined pursuant tosubsection 2 or 3 of this section at the time of his retirement.
Option 5. Prior to age sixty-two the member will receive an increasedpension, where the total pension prior to age sixty-two is approximatelyequal to the pension after age sixty-two plus the member's estimatedfederal Social Security benefit, provided that the reduced pension afterage sixty-two is not less than one-half the pension the member could havereceived had no option been elected.
A member may elect a combination of Option l and Option 5, or Option 2 andOption 5. The survivor benefits payable to a beneficiary, other than thespouse of the retired member, under any of the foregoing options shall inno event exceed fifty percent of the actuarial equivalent of the pensiondetermined pursuant to subsection 2 or 3 of this section at the time ofretirement.
13. If an option has been elected pursuant to subsection 12 of thissection, and both the retired member and beneficiary die before receivingtotal benefits as large as the member's accumulated contributions atretirement, the difference shall be paid to the designated beneficiary ofthe person last entitled to benefits, if living, otherwise to the estate ofthe person last entitled to benefits.
14. If an active member dies while an employee and with five or moreyears of credited service and a dependent of the member is designated asbeneficiary to receive his accumulated contributions, such beneficiary may,in lieu thereof, request that benefits be paid under option 1, subsection12 of this section, as if the member had attained age sixty, if the memberwas less than sixty years of age at the time of his death, and had retiredunder such option as of the date of death, provided that under the samecircumstances a member may provide by written designation that benefitsmust be paid pursuant to option 1 to such beneficiary. In addition tobenefits received under option 1, subsection 12 of this section, asurviving spouse receiving benefits under this subsection shall receivesixty dollars per month for each unmarried dependent child of the deceasedmember who is under twenty-two years of age and is in the care of thesurviving spouse; provided, that if there are more than three suchunmarried dependent children one hundred eighty dollars shall be dividedequally among them. A "dependent beneficiary" for the purpose of thissubsection only shall mean either the surviving spouse or a person who atthe time of the death of the member was receiving at least one-half of hissupport from the member, and the determination of the board of trustees asto whether a person is a dependent shall be final.
15. In lieu of accepting the payment of the accumulated contributionsof a member who dies after having at least eighteen months of creditedservice and while an employee, an eligible beneficiary or, if no survivingeligible beneficiary, the unmarried dependent children of the member undertwenty-two years of age may elect to receive the benefits pursuant tosubdivision (1), (2), (3), or (4) of this subsection. An "eligiblebeneficiary" is the surviving spouse, unmarried dependent children undertwenty-two years of age or dependent parents of the member, if designatedas beneficiary. A "dependent" is one receiving at least one-half of hissupport from the member at his death.
(1) A surviving spouse who is sixty-two years of age at the death ofthe member or upon becoming such age thereafter, and who was married to themember at least one year, may receive sixty dollars per month for life. Aspouse may receive this benefit after receiving benefits pursuant tosubdivision (2) of this subsection;
(2) A surviving spouse who has in his or her care an unmarrieddependent child of the deceased member under twenty-two years of age mayreceive sixty dollars per month plus sixty dollars per month for each childunder twenty-two years of age but not more than a total of two hundredforty dollars per month;
(3) If no benefits are payable pursuant to subdivision (2) of thissubsection, unmarried dependent children under the age of twenty-two mayreceive sixty dollars each per month; provided that if there are more thanthree such children one hundred eighty dollars per month shall be dividedequally among them;
(4) A dependent parent upon attaining sixty-two years of age mayreceive sixty dollars per month as long as not remarried provided nobenefits are payable at any time pursuant to subdivision (1), (2), or (3)of this subsection. If there are two dependent parents entitled tobenefits, sixty dollars per month shall be divided equally between them;
(5) If the benefits pursuant to this subsection are elected and thetotal amount paid is less than an amount equal to the accumulatedcontributions of a member at his death, the difference shall be payable tothe beneficiary or the estate of the beneficiary last entitled to benefits.
16. If a member receiving a normal pension again becomes an activemember, his pension benefit payments shall cease during such membership andshall be resumed upon subsequent retirement together with such pensionbenefit as shall accrue by reason of his latest period of membership.Except as otherwise provided in section 105.269, RSMo, a retired member maynot receive a pension benefit for any month for which he receivescompensation from an employing board, except he may serve as a part-time ortemporary employee for not to exceed sixty days in any calendar yearwithout becoming a member and without having his pension benefitdiscontinued. A retired member may also serve as a member of the board oftrustees and receive any reimbursement for expenses allowed him because ofsuch service without becoming an active member and without having hispension benefit discontinued or reduced.
17. Upon approval of the board of trustees, any member may makecontributions in addition to those required. Any additional contributionsshall be accumulated at interest and paid in addition to the benefitsprovided hereunder. The board of trustees shall make such rules andregulations as it deems appropriate in connection with additionalcontributions including limitations on amounts of contributions and methodsof payment of benefits.
18. Notwithstanding any other provisions of this section, any memberretiring on or after age sixty-five who has five or more years of creditedservice shall be entitled to an annual pension of the lesser of (a) anamount equal to his number of years of credited service multiplied by onehundred twenty dollars, or (b) one thousand eight hundred dollars. Uponthe death of such member, any benefits payable to the beneficiary of suchmember shall be computed as otherwise provided.
(L. 1943 p. 805 § 6, A.L. 1949 p. 532, A.L. 1953 p. 438, A.L. 1957 p. 462, A.L. 1961 p. 384, A.L. 1965 p. 293, A.L. 1967 p. 263, A.L. 1972 H.B. 1266, A.L. 1973 S.B. 256, A.L. 1978 S.B. 542, A.L. 1979 S.B. 392, A.L. 1981 H.B. 33, et al., A.L. 1983 S.B. 3, A.L. 1986 H.B. 1216, A.L. 1987 H.B. 558, et al. merged with H.B. 384 Revision, A.L. 1988 H.B. 1100, et al., A.L. 1989 S.B. 146, A.L. 1990 H.B. 1347, et al., A.L. 2001 H.B. 660)
Retirement, when--pensions, how computed--early retirement, when,pensions, how computed--disability retirement, when, pensions, howcomputed--death before retirement, effect of--beneficiary defined,benefits, how computed--retirants may become active, how--minimumbenefits, when.
169.460. 1. Any member may retire and receive a normal pension uponhis written application to the board of trustees setting forth at what timenot less than fifteen days nor more than one hundred eighty days subsequentto the execution and filing of such application he desires to be retired;provided, that the member at the time so specified for his retirementeither (a) shall have attained age sixty-five or (b) shall have attained anage which when added to the number of years of credited service of suchmember shall total a sum not less than eighty-five. For purposes ofcomputing any member's age under this section, the board shall, ifnecessary, add to his actual age any accumulated and unused days of sickleave included in his credited service.
2. Upon retirement pursuant to subsection 1 of this section, a membershall receive an annual pension payable in monthly installments equal tohis number of years of credited service multiplied by two percent of hisaverage final compensation subject to a maximum pension of sixty percent ofhis average final compensation.
3. A member who is not eligible for normal pension pursuant tosubsection 1 of this section but who has attained age sixty and has five ormore years of credited service may make application in the same manner aspursuant to subsection 1 of this section for an early pension. His earlypension shall be computed pursuant to subsection 2 of this section, butshall be reduced by five-ninths of one percent for each month such member'searly retirement date precedes the earliest date he could have received anormal pension pursuant to subsection 1 of this section had his servicecontinued.
4. Upon the written application of the member or of the employingboard, any active member who has five or more years of credited servicewith such board and does not qualify for a normal pension pursuant tosubsection 1 of this section may be retired by the board of trustees, notless than fifteen days and not more than one hundred eighty days nextfollowing the date of filing such application, and receive a disabilitypension, provided, that the medical board after a medical examination ofsuch member or such member's medical records shall certify that such memberis unable to further perform his duties due to mental or physicalincapacity, and that such incapacity is likely to be permanent and thatsuch member should be retired; or, provided the member furnishes evidenceof the receipt of disability benefits under the federal Old Age, Survivorsand Disability Insurance System of the Social Security Act. Thedetermination of the board of trustees in the matter shall be final andconclusive. A member being retired pursuant to this subsection who hasaccumulated unused vacation and sick leave may elect to have thecommencement of his disability pension deferred for more than one hundredeighty days during the period he is entitled to vacation and sick pay.
5. Upon retirement for disability, a member shall receive adisability pension until such time as he meets the requirements for anormal pension pursuant to subsection 1 of this section, at which time hisdisability pension will be deemed to be a normal pension. The member'sdisability pension shall be the larger of:
(1) A normal pension based on his credited service to the date of hisretirement for disability and calculated as if he were age sixty-five; or
(2) One-fourth of his average final compensation; except that suchbenefit shall not exceed the normal pension which he would have receivedupon retirement if his service had continued and he had satisfied theeligibility requirements of subsection 1 of this section and had his finalaverage compensation been unchanged.
6. Once each year during the first five years following retirementfor disability and once in every three-year period thereafter whilereceiving a disability pension, the board of trustees may, and shall,require any member receiving a disability pension who has not yet becomeeligible for a normal pension pursuant to subsection 1 of this section toundergo a medical examination at a place designated by the medical board orby a physician or physicians designated by such board. If any such memberreceiving a disability pension refuses to submit to such medicalexamination, his benefit may be discontinued until his withdrawal of suchrefusal, and if his refusal continues for one year, all rights in and tohis pension may be revoked by the board of trustees.
7. If the board of trustees finds that any member receiving adisability pension is engaged in or is able to engage in a gainfuloccupation paying more than the difference between his disability pensionplus benefits, if any, to which he and his family are eligible under thefederal Old Age, Survivors and Disability Insurance System of the SocialSecurity Act and the current rate of monthly compensation for the positionhe held at retirement, then the amount of his disability pension shall bereduced to an amount which together with the amount earnable by him shallequal such current rate of monthly compensation. The decisions of theboard of trustees in regard to such modification of disability benefitsshall be final and conclusive.
8. If any member receiving a disability pension is restored toservice as an employee, he shall again become an active member of theretirement system and contribute thereunder. His credited service at thetime of his retirement for disability shall be restored and the excess ofhis accumulated contributions at his retirement for disability over thetotal disability pension payments which he received shall be credited tohis account.
9. If a member with fewer than five years credited service ceases tobe an employee, except by death, he shall be paid the amount of hisaccumulated contributions in accordance with applicable provisions of theInternal Revenue Code.
10. If a member with five years or more credited service ceases to bean employee, except by death or retirement, he shall be paid on demand theamount of his accumulated contributions, or he may leave his accumulatedcontributions with the retirement system and be an inactive member andclaim a retirement benefit at any time after he reaches the minimum age forretirement, except that if such a member's accumulated contributions do notexceed the involuntary distribution limits under provisions of the InternalRevenue Code, the member must elect to become an inactive member withinthirty days of employment separation to avoid application of theinvoluntary distribution provisions of the Internal Revenue Code. When aninactive member presents his valid claim to the board of trustees, he shallbe granted a benefit at such time and for such amount as is availablepursuant to subsection 2 or 3 of this section in accordance with theprovisions of law in effect at the time his active membership ceased. Theaccumulated contributions of an inactive member may be withdrawn at anytime upon ninety days' notice or such shorter notice as is approved by theboard of trustees. If an inactive member dies before retirement, hisaccumulated contributions shall be paid to his designated beneficiary, ifliving, otherwise to the estate of the member. A member's accumulatedcontributions shall not be paid to him so long as he remains in service asan employee.
11. Any member upon retirement shall receive his pension payablethroughout life subject to the provision that if his death occurs before hehas received total benefits at least as large as his accumulatedcontributions at retirement, the difference shall be paid in one sum to hisdesignated beneficiary, if living, otherwise to the estate of the retiredmember.
12. Prior to the date of retirement pursuant to subsection 2, 3, or 4of this section, a member may elect to receive the actuarial equivalent ofhis pension in a lesser amount, payable throughout life under one of thefollowing options with the provision that:
Option 1. Upon his death, his pension shall be continued throughoutthe life of and paid to his beneficiary, or
Option 2. Upon his death, one-half of his pension shall be continuedthroughout the life of and paid to his beneficiary, or
Option 3. Upon his death, his pension shall be continued throughoutthe life of and paid to his beneficiary, provided that in the event hisdesignated beneficiary predeceases him, then his pension shall be adjustedeffective the first day of the month following the month in which hisdesignated beneficiary died to the amount determined pursuant to subsection2 or 3 of this section at the time of his retirement, or
Option 4. Upon his death, one-half of his pension shall be continuedthroughout the life of and paid to his beneficiary, provided that in theevent his designated beneficiary predeceases him, then his pension shall beadjusted effective the first day of the month following the month in whichhis designated beneficiary died to the amount determined pursuant tosubsection 2 or 3 of this section at the time of his retirement.
Option 5. Prior to age sixty-two the member will receive an increasedpension, where the total pension prior to age sixty-two is approximatelyequal to the pension after age sixty-two plus the member's estimatedfederal Social Security benefit, provided that the reduced pension afterage sixty-two is not less than one-half the pension the member could havereceived had no option been elected.
A member may elect a combination of Option l and Option 5, or Option 2 andOption 5. The survivor benefits payable to a beneficiary, other than thespouse of the retired member, under any of the foregoing options shall inno event exceed fifty percent of the actuarial equivalent of the pensiondetermined pursuant to subsection 2 or 3 of this section at the time ofretirement.
13. If an option has been elected pursuant to subsection 12 of thissection, and both the retired member and beneficiary die before receivingtotal benefits as large as the member's accumulated contributions atretirement, the difference shall be paid to the designated beneficiary ofthe person last entitled to benefits, if living, otherwise to the estate ofthe person last entitled to benefits.
14. If an active member dies while an employee and with five or moreyears of credited service and a dependent of the member is designated asbeneficiary to receive his accumulated contributions, such beneficiary may,in lieu thereof, request that benefits be paid under option 1, subsection12 of this section, as if the member had attained age sixty, if the memberwas less than sixty years of age at the time of his death, and had retiredunder such option as of the date of death, provided that under the samecircumstances a member may provide by written designation that benefitsmust be paid pursuant to option 1 to such beneficiary. In addition tobenefits received under option 1, subsection 12 of this section, asurviving spouse receiving benefits under this subsection shall receivesixty dollars per month for each unmarried dependent child of the deceasedmember who is under twenty-two years of age and is in the care of thesurviving spouse; provided, that if there are more than three suchunmarried dependent children one hundred eighty dollars shall be dividedequally among them. A "dependent beneficiary" for the purpose of thissubsection only shall mean either the surviving spouse or a person who atthe time of the death of the member was receiving at least one-half of hissupport from the member, and the determination of the board of trustees asto whether a person is a dependent shall be final.
15. In lieu of accepting the payment of the accumulated contributionsof a member who dies after having at least eighteen months of creditedservice and while an employee, an eligible beneficiary or, if no survivingeligible beneficiary, the unmarried dependent children of the member undertwenty-two years of age may elect to receive the benefits pursuant tosubdivision (1), (2), (3), or (4) of this subsection. An "eligiblebeneficiary" is the surviving spouse, unmarried dependent children undertwenty-two years of age or dependent parents of the member, if designatedas beneficiary. A "dependent" is one receiving at least one-half of hissupport from the member at his death.
(1) A surviving spouse who is sixty-two years of age at the death ofthe member or upon becoming such age thereafter, and who was married to themember at least one year, may receive sixty dollars per month for life. Aspouse may receive this benefit after receiving benefits pursuant tosubdivision (2) of this subsection;
(2) A surviving spouse who has in his or her care an unmarrieddependent child of the deceased member under twenty-two years of age mayreceive sixty dollars per month plus sixty dollars per month for each childunder twenty-two years of age but not more than a total of two hundredforty dollars per month;
(3) If no benefits are payable pursuant to subdivision (2) of thissubsection, unmarried dependent children under the age of twenty-two mayreceive sixty dollars each per month; provided that if there are more thanthree such children one hundred eighty dollars per month shall be dividedequally among them;
(4) A dependent parent upon attaining sixty-two years of age mayreceive sixty dollars per month as long as not remarried provided nobenefits are payable at any time pursuant to subdivision (1), (2), or (3)of this subsection. If there are two dependent parents entitled tobenefits, sixty dollars per month shall be divided equally between them;
(5) If the benefits pursuant to this subsection are elected and thetotal amount paid is less than an amount equal to the accumulatedcontributions of a member at his death, the difference shall be payable tothe beneficiary or the estate of the beneficiary last entitled to benefits.
16. If a member receiving a normal pension again becomes an activemember, his pension benefit payments shall cease during such membership andshall be resumed upon subsequent retirement together with such pensionbenefit as shall accrue by reason of his latest period of membership.Except as otherwise provided in section 105.269, RSMo, a retired member maynot receive a pension benefit for any month for which he receivescompensation from an employing board, except he may serve as a part-time ortemporary employee for not to exceed sixty days in any calendar yearwithout becoming a member and without having his pension benefitdiscontinued. A retired member may also serve as a member of the board oftrustees and receive any reimbursement for expenses allowed him because ofsuch service without becoming an active member and without having hispension benefit discontinued or reduced.
17. Upon approval of the board of trustees, any member may makecontributions in addition to those required. Any additional contributionsshall be accumulated at interest and paid in addition to the benefitsprovided hereunder. The board of trustees shall make such rules andregulations as it deems appropriate in connection with additionalcontributions including limitations on amounts of contributions and methodsof payment of benefits.
18. Notwithstanding any other provisions of this section, any memberretiring on or after age sixty-five who has five or more years of creditedservice shall be entitled to an annual pension of the lesser of (a) anamount equal to his number of years of credited service multiplied by onehundred twenty dollars, or (b) one thousand eight hundred dollars. Uponthe death of such member, any benefits payable to the beneficiary of suchmember shall be computed as otherwise provided.
(L. 1943 p. 805 § 6, A.L. 1949 p. 532, A.L. 1953 p. 438, A.L. 1957 p. 462, A.L. 1961 p. 384, A.L. 1965 p. 293, A.L. 1967 p. 263, A.L. 1972 H.B. 1266, A.L. 1973 S.B. 256, A.L. 1978 S.B. 542, A.L. 1979 S.B. 392, A.L. 1981 H.B. 33, et al., A.L. 1983 S.B. 3, A.L. 1986 H.B. 1216, A.L. 1987 H.B. 558, et al. merged with H.B. 384 Revision, A.L. 1988 H.B. 1100, et al., A.L. 1989 S.B. 146, A.L. 1990 H.B. 1347, et al., A.L. 2001 H.B. 660)
