Current through Register Vol. 49, No. 6, March 15, 2024
PURPOSE: The amendment to 16 CSR 10-6.060 (adding a
new section (5)) relates to working after retirement for PEERS members and is
necessary pursuant to CCS#2/HCS/SS/SCS/SBs 681 and 662 which became effective
on July 1, 2022, pursuant to the bill's emergency clause. This legislation
provides for a temporary waiver (through June 30, 2025) of certain hourly
limitations normally placed on PEERS retirees who return to work for covered
employers. This legislation was passed to assist covered employers who are
struggling to find enough qualified and available substitute teachers. The
temporary waiver does not apply to all work performed by PEERS retirees; it
applies only to hours for PEERS retirees who return to work to substitute
teach. Therefore, to administer this legislation as it relates to PEERS
retirees, PEERS must define what it considers to be work that qualifies as
substitute teaching under this temporary legislative waiver.
(1) The earliest date on which retirement may
become effective is the first day of the calendar month following the calendar
month in which the services of the member are terminated, or the first day of
the calendar month following the filing of the application for retirement,
whichever is later; except that the earliest date on which retirement may
become effective for a member who receives a year of membership service credit
for the final school year in which the member serves shall be July 1 next
following the member's last day of service. Termination from employment covered
by the retirement system prior to the effective date of retirement is required
to be eligible for a retirement benefit. A member shall not be deemed to have
terminated employment if the member is employed in any capacity by an employer
covered by the retirement system within one (1) month after his or her
effective date of retirement. Effective July 1, 2016, a member shall not be
deemed to have terminated employment if, prior to receipt of his or her first
benefit payment, the member reaches an agreement, whether written or unwritten,
for future employment in any capacity by an employer covered by the retirement
system. The member shall be required to repay any benefit payments paid if it
is determined that the member did not terminate employment covered by the
retirement system.
(2) If a retiree
receiving a retirement allowance returns to active service, his/her retirement
allowance shall cease, s/he shall become a new member of the retirement system
and s/he shall make contributions to the system. Upon a subsequent termination
of his/her services, payment of his/her previously determined retirement
allowance shall be resumed.
(3) A
retirement allowance shall not be paid a retiree for any month in which
compensation is earned for services as a regular employee of a school district
included in the system.
(4) A
retiree may serve as an employee of a district included in the system on a
part-time or temporary-substitute basis not to exceed five hundred fifty (550)
hours in a school year and continue to receive a retirement allowance. To be
considered as serving on a temporary-substitute basis, a person must be serving
for a regular employee who is temporarily absent or in a position which is
temporarily vacant. The employer covered by the Public Education Employee
Retirement System of Missouri and the retiree shall maintain a log of all dates
worked, hours worked, wage earned, and the employer in substantially the same
form as provided below. The employer and retiree shall provide a copy of the
work log upon request of retirement system.
Employee Name:
|
School Year:
|
Date Worked
|
Hours Worked
|
Wage Earned
|
Employer
|
The working after retirement limits set forth in section
169.660.2, RSMo, shall be applied on a pro rata basis as provided below to a
retiree's hours of work during the school year in which the retiree's date of
retirement is effective.
Effective date of retirement
|
Hours allowed after retirement for school
year
|
July 1
|
550
|
August 1
|
504
|
September 1
|
458
|
October 1
|
413
|
November 1
|
367
|
December 1
|
321
|
January 1
|
275
|
February 1
|
229
|
March 1
|
183
|
April 1
|
138
|
May 1
|
92
|
June 1
|
0
|
(5)
Effective July 1, 2022, and until June 30, 2025, pursuant to section 168.036.6,
RSMo, and notwithstanding any other provisions to the contrary, any person
retired and currently receiving a retirement benefit under sections 169.600 to
169.715, RSMo, other than for disability, may be employed to substitute teach
on a part-time or temporary substitute basis by an employer included in the
retirement system and for such work may exceed five hundred fifty (550) hours
in any one (1) school year without a discontinuance of the retiree's retirement
allowance. For purposes of administering this section as applicable to PEERS
retirees, to substitute teach shall mean to instruct or guide the studies of
students in a teaching position which requires a DESE-issued certificate in
place of a regularly employed teacher who is temporarily unavailable. For
community colleges, to substitute teach shall mean to instruct or guide the
studies of students in a teaching position certified by the executive officer
of the institution pursuant to section 169.140, RSMo, in place of a regularly
employed teacher who is temporarily unavailable. A regularly employed teacher
is considered temporarily unavailable when the teacher's position is unfilled
due to the absence of the regular or former teacher for twelve (12) months or
less.
(6) Effective July 1, 2015,
for any employment teaching at a community college included in the system, each
credit hour taught by a retired member will be the equivalent of thirty (30)
hours for the purposes of this rule and section 169.560, RSMo, regardless of
the number of hours actually worked by the retired member related to the
course(s) taught. For any said course(s) taught during summer session, all
hours for said course(s) shall be counted as having occurred during the school
year in which the course(s) commence. Any hours worked performing additional
duties for a community college not related to said course(s) for which a
retired member receives compensation above and beyond that received for
teaching said course(s) shall be counted on a hour-by-hour basis for the
purposes of this rule and section 169.560, RSMo.
(7) A member electing Option 2, Option 3, or Option 4
in his/her application for service retirement shall furnish proof of date of
birth of the person nominated to receive the survivorship payments.
(8) A member electing Option 2, Option 3, or
Option 4 in his/her application for service retirement shall indicate the
relationship establishing an insurable interest in his/her life for the person
nominated and, if requested by the board, shall furnish evidence of the
existence of the insurable interest. An insurable interest shall be considered
to exist because of the relationship to a member of a wife, husband, father,
mother, child (including a stepchild or adopted child), or any other person who
has a financial interest in the continued life of the member or who is
dependent upon the member for all or part of his/her support.
(9) Any member retiring under the provisions
of section 169.563, RSMo, shall have the same rights of retirement benefit plan
election as a member retiring under section 169.670, RSMo. Further, the
surviving spouse of any member who dies prior to retirement and while eligible
to retire under section 169.563, RSMo, shall have the same survivorship benefit
rights as provided under section 169.670, RSMo.
(10) Any actuarial adjustment to a retirement
allowance payment made because of the nomination of a successor beneficiary as
provided in 169.715, RSMo, shall take effect in the month a properly completed
nomination of successor beneficiary form is received by the Retirement System
or the month of the retiree's marriage to the successor beneficiary, whichever
occurs later. The nomination of a successor beneficiary shall be effective
immediately upon receipt by the Retirement System of the properly completed
nomination of successor beneficiary form or the date of the retiree's marriage
to the successor beneficiary, whichever occurs later. Effective August 28,
2017, the properly completed nomination of successor beneficiary form submitted
pursuant to section 169.715, RSMo, must be received by the Retirement System
within one (1) year of remarriage of the retirement member and the new
spouse.
(11) The effective date of
any monthly benefit to a service retiree shall be the first day of the calendar
month following the event establishing eligibility for the benefit, assuming
all other requirements of the law and rules of the board of trustees have been
met. Monthly benefit payments shall be made on the last day of each calendar
month and shall be only for complete months. The initial payment shall include
all benefits accrued since the effective date.
(12) A qualified member who desires to elect
retirement Option 7 "Accelerated Payment Option" must do so in accordance with
the terms, conditions, and limitations of this paragraph and section 169.670,
RSMo.
(A) By selecting the Accelerated
Payment Option, the member is electing to utilize the retirement allowance the
member is eligible to receive from this retirement system in conjunction with
the retirement benefit the member is eligible to receive from the federal
Social Security Administration commencing at the minimum Social Security
retirement age (as established by law at the time the Accelerated Payment
Option is elected), in order to receive from the two (2) systems combined, and
within the limitations noted herein, level or near level monthly retirement
benefits during the member's retirement.
(B) Under the Accelerated Payment Option, the
member must select a benefit payment plan authorized by section 169.670, RSMo,
for which the member qualifies, including the options for reduced monthly
benefit payments for life (with continuing payments to a designated
beneficiary), but the amount of the benefit payment the member would otherwise
be eligible to receive under the plan selected will be modified in the manner
described herein.
1. The retirement allowance
paid to the member by this retirement system under the Accelerated Payment
Option will be actuarially equivalent to the retirement allowance the member
would normally receive under the benefit payment plan selected, but to
facilitate level or near level monthly benefit payments during retirement in
the manner described herein, the member agrees to accept a plan of monthly
benefit payments from this retirement system that will vary in amount,
depending on the age of the member.
A. By
electing the Accelerated Payment Option, the member agrees to accelerate
payment of a portion of the member's retirement allowance to the early months
of retirement, but as a consequence, and in order to maintain actuarial
equivalence, the member further agrees to receive a reduced benefit payment
amount over the remainder of the retirement period.
B. Under the Accelerated Payment Option, from
the effective date of retirement from this retirement system until the retiree
reaches the minimum Social Security retirement age (as established by law at
the time the Accelerated Payment Option is elected), the retiree will receive a
larger monthly benefit payment from this retirement system than would otherwise
be paid under the benefit payment plan selected by the retiree. Upon reaching
the minimum Social Security retirement age (as previously defined), the retiree
will receive a smaller monthly benefit payment from this retirement system than
would otherwise be paid under the benefit payment plan selected by the
retiree.
2. The amount of
the variable monthly benefit payment received from this retirement system will
be actuarially determined by the retirement system using the benefit payment
plan selected by the member and the member's projected retirement benefit from
Social Security at the minimum eligible retirement age (as established by law
at the time the Accelerated Payment Option is elected). The actuarial
calculation will identify the necessary increase over and reduction below the
monthly benefit otherwise payable under the benefit payment plan selected by
the member, so that in conjunction with the monthly retirement benefit the
member is eligible to receive from Social Security commencing at the minimum
retirement age (as established by law at the time the Accelerated Payment
Option is elected), the member can potentially receive level or near level
monthly benefit payments during the member's retirement.
3. The plan of variable monthly benefit
payments from this retirement system under the Accelerated Payment Option
contemplates that the retiree will apply for and begin receiving retirement
benefits from Social Security at the minimum Social Security retirement age set
by law at the time the Accelerated Payment Option is elected, but nothing
herein or in section 169.670, RSMo, shall be construed as a promise or
guarantee by this retirement system that the Social Security Administration
will make such payments, or that any payments made will comport with the
estimate of projected Social Security benefits used to calculate the variable
monthly benefits from this retirement system, or that such payments will
commence at the time originally identified by the Social Security
Administration. Similarly, nothing herein or in section 169.670, RSMo, shall be
construed as a promise or guarantee that this retirement system will make up
any shortfall in Social Security benefits from those projected at the time the
Accelerated Payment Option is elected, or that this retirement system has any
obligations other than those expressly assumed herein to assure a stream of
level or near level monthly retirement benefits. It shall be the sole
responsibility of the retiree and the Social Security Administration,
respectively, to secure and/or pay Social Security retirement benefits
sufficient to combine with the plan of variable retirement benefits available
from this system to yield a level or near level stream of monthly benefit
payments during retirement. Neither a failure by the retiree or the Social
Security Administration to fulfill their respective obligations, nor a
subsequent change in the minimum Social Security retirement age, will nullify
the retiree's election of the Accelerated Payment Option or compel
recalculation of the plan of variable monthly benefits determined at the time
of election.
4. The retirement
allowance the member is eligible to receive from this retirement system will
determine the capacity of the Accelerated Payment Option to effectively provide
level or near level monthly benefit payments for a retiree in the manner
described herein. Some members may not be eligible for sufficient benefits to
achieve a meaningful leveling of benefit payments under the Accelerated Payment
Option and a member must exercise independent judgement in deciding whether the
Accelerated Payment Option is appropriate in light of the member's particular
circumstances. Nothing in this paragraph or in section 169.670, RSMo, shall be
construed as a promise or guarantee by this retirement system that the
Accelerated Payment Option will provide a level or near level combination of
benefit payments for all retirees, and in no case will the necessary
adjustments to the monthly benefit otherwise payable under the plan selected by
the member cause the amount to be paid when the member reaches the minimum
Social Security retirement age (as established by law at the time the
Accelerated Payment Option is elected) to be less than twenty-five percent
(25%) of the member's original, non-adjusted benefit (i.e., the monthly benefit
that would otherwise be payable under the benefit payment plan selected by the
member).
5. If the retiree selects
a benefit payment plan that provides for the payment of retirement benefits to
a beneficiary upon the retiree's death, the amount of the beneficiary's payment
in any particular month will be established by determining the monthly benefit
amount the retiree would have received under the Accelerated Payment Option
were the retiree still living, and then incorporating any reduction from that
benefit level, if appropriate, based on the benefit payment plan selected by
the retiree.
(C) The
provisions in section 169.670, RSMo, and 16 CSR 106.100 concerning the right to
receive a cost-of-living adjustment (COLA), the amount of any COLA, and any
other limitations concerning COLAs shall apply with equal effect to benefits
paid under the Accelerated Payment Option, except as follows:
1. Any COLA the retiree is eligible to
receive will be based on the amount of the monthly benefit payable by this
retirement system when the COLA takes effect; and
2. If a retiree has received COLAs prior to
reaching the minimum Social Security retirement age (as established by law at
the time the Accelerated Payment Option is elected), the reduced benefit paid
by this retirement system from that point forward will include only that
percentage of the previously awarded COLAs that would have been earned by the
benefit amount payable after the retiree reaches the Social Security minimum
retirement age (as previously defined).
(D) Limitations on and other provisions
concerning post-retirement employment found in this rule and in Chapter 169,
RSMo, shall apply with equal effect to a retiree under the Accelerated Payment
Option, except as follows:
1. If a retiree
under the Accelerated Payment Option subsequently returns to employment covered
by this retirement system, benefit payments will be suspended, and the
retiree's covered service will recommence under a new membership;
2. While the retirement benefits are
suspended, they will continue to accrue COLAs based on the benefit that would
have been paid to the retiree had the individual not returned to covered
employment;
3. When the individual
terminates covered employment and is again eligible to begin receiving
retirement benefits, the retirement system will recalculate and, if necessary,
adjust the amount of the prospective benefit payments under the Accelerated
Payment Option to assure that they remain actuarially equivalent to the benefit
payment plan selected at the time of the original retirement; and
4. A retiree under the Accelerated Payment
Option who returns to covered employment and thereby qualifies for a second
benefit based on the new membership may not elect the Accelerated Payment
Option for the second benefit.
(E) A member who wishes to elect to receive
retirement benefits under the Accelerated Payment Option, or who wants to
receive an estimate of benefits under the Accelerated Payment Option, must
provide the retirement system with a written estimate of the member's projected
Social Security retirement benefit at the minimum eligible retirement age (as
then in effect), prepared and issued by the Social Security Administration. The
Social Security benefit estimate must have been issued no more than one hundred
eighty (180) days prior to the date of the application for retirement or the
date of the request for an Accelerated Payment Option benefit estimate. The
Social Security benefit estimate must identify the projected retirement
benefits for the member only, and may not include any benefits that could
accrue to the member from a spouse, family member, or some other
source.
(F) If a member dies prior
to retirement, the member's surviving spouse cannot elect to receive benefits
from this retirement system under the Accelerated Payment Option.
(13) Any person who is receiving
or has received a retirement allowance from the system, other than a disability
retirement allowance, who returns to employment in a position covered by the
system shall undertake such employment under a new and separate membership in
the system.
(A) Such person shall be eligible
for a subsequent retirement allowance after one (1) year of creditable service
under the new membership in the system. Such subsequent retirement allowance
shall be separate and distinct from such person's previous retirement
allowance.
(B) After earning at
least one (1) year of creditable service and upon termination of employment
under the subsequent membership with the system, such person may-1) withdraw
from the system and receive a refund of the person's contributions made during
the subsequent membership; 2) apply for a subsequent retirement allowance; or
3) leave the contributions with the system.
(C) Such person shall not receive a
retirement allowance for any previous membership service while the person is
earning creditable service under a subsequent membership with the
system.
(D) All previous years of
creditable service, not otherwise forfeited, will be considered to determine
the formula factor, which may include the temporary allowance provided in
section 169.671.1(5), RSMo, to be used in calculating the subsequent retirement
allowance.
(14) In
addition to the retirement allowance provided in section 169.670.1(1)-(3),
RSMo, a member retiring on or after July 1, 2000, whose creditable service is
thirty (30) years or more or whose sum of age and creditable service is eighty
(80) years or more, shall receive a temporary retirement allowance equivalent
to four-tenths (4/10) of one percent (1%) of the member's final average salary
multiplied by the member's years of service until such time as the member
reaches minimum retirement age for Social Security retirement benefits
("minimum Social Security retirement age"), subject to the terms, conditions,
and limitations of this rule.
(A) "Minimum
Social Security retirement age" is the minimum age at which the retiree would
be eligible to receive reduced Social Security retirement benefits. If
otherwise eligible, a retiree shall receive the temporary retirement allowance
until the retiree first attains minimum Social Security retirement age as that
age is periodically adjusted by the Social Security Administration, but in no
event shall the temporary retirement allowance terminate prior to the earlier
of the retiree's death or the retiree's attainment of age sixty-two
(62).
(B) To receive the temporary
retirement allowance, the member must select a benefit payment plan authorized
by section 169.670, RSMo, for which the member qualifies, which may include an
option for reduced monthly benefit payments for life, with continuing payments
to a designated beneficiary.
1. A retiree who
elects Option 1 shall receive the temporary retirement allowance until the
earlier of the retiree's death or the time at which the retiree attains minimum
Social Security retirement age, provided that in no event shall the temporary
retirement allowance terminate prior to the earlier of the retiree's death or
the retiree's attainment of age sixty-two (62).
2. A retiree who elects Option 2, 3, 4, or 7
shall receive the temporary retirement allowance, as actuarially reduced
pursuant to section 169.670.4, RSMo, in the same manner as described in this
rule, provided that if the retiree dies prior to reaching minimum Social
Security retirement age, such temporary retirement allowance shall be paid to
the retiree's designated beneficiary (as adjusted pursuant to the retiree's
elected option) until such time as the retiree would have reached the minimum
Social Security retirement age had the retiree lived.
3. A retiree who elects Option 5 or 6 shall
receive the temporary retirement allowance, as actuarially reduced pursuant to
section 169.670.4, RSMo, in the same manner as described in this rule, provided
that if the retiree dies prior to reaching minimum Social Security retirement
age, such temporary retirement allowance shall be paid to the retiree's
designated beneficiary until such time as the retiree would have reached
minimum Social Security retirement age had the retiree lived or until the
payments to the retiree's beneficiary would otherwise terminate pursuant to
Option 5 or 6, whichever occurs first.
(C) By accepting the temporary retirement
allowance, the retiree agrees to receipt of a retirement allowance that may
decrease substantially when the retiree reaches minimum Social Security
retirement age and further, that such decrease will be magnified if the retiree
elected Option 7. By accepting the temporary retirement allowance, the retiree
agrees that the payment of the temporary retirement allowance is not designed
to provide for equal or substantially equal retirement allowance payments
throughout the retiree's life when such payments are received in conjunction
with Social Security benefits or otherwise. Nothing herein or in section
169.670, RSMo, shall be construed as a promise or guarantee by this retirement
system that the Social Security Administration will make any payments, or that
any payments made, when added to the retiree's retirement allowance, will
result in equal or substantially equal payments throughout the retiree's life
or the life of any named beneficiary, or that this retirement system has any
obligation to assure a stream of equal or substantially equal monthly
retirement benefits. It shall be the sole responsibility of the retiree and the
Social Security Administration, respectively, to secure or pay Social Security
retirement benefits. Neither a failure by the retiree or the Social Security
Administration to fulfill their respective obligations, nor a subsequent change
in the minimum Social Security retirement age shall compel this retirement
system to recalculate the monthly benefits determined at the time of the
retiree's election of a retirement option pursuant to section 169.670,
RSMo.
(D) The provisions in section
169.670, RSMo, and 16 CSR 106.100 concerning the right to receive a
cost-of-living adjustment ("COLA"), the amount of any COLA, and any other
limitations concerning COLAs shall apply with equal effect to the temporary
retirement allowance, except as follows:
1.
Any COLA the retiree is eligible to receive will be based on the amount of the
monthly benefit payable by this retirement system when the COLA takes effect;
and
2. If a retiree has received
COLAs prior to reaching the minimum Social Security retirement age, the reduced
retirement allowance paid by Public Education Employee Retirement System
(PEERS) from that point forward will include only that percentage of the
previously awarded COLAs that would have been earned by the benefit amount
payable after the retiree reaches the minimum Social Security retirement
age.
(E) Limitations on
and other provisions concerning post-retirement employment found in this rule
and in Chapter 169, RSMo, shall apply with equal effect to a retiree receiving
a temporary retirement allowance, except as follows:
1. If a retiree receiving a temporary
retirement allowance subsequently returns to employment covered by this
retirement system, benefit payments will be suspended, and the retiree's
covered service will commence under a new membership;
2. While the retirement benefits are
suspended, they will continue to accrue COLAs based on the benefit that would
have been paid to the retiree had the retiree not returned to covered
employment;
3. A retiree receiving
a temporary retirement allowance who returns to covered employment and thereby
qualifies for a second benefit based on the new membership may receive a
temporary retirement allowance as part of the retiree's subsequent benefit if
eligible pursuant to section 169.561, RSMo, and sections (12) and (13) of this
rule.
(F) If a member
dies prior to retirement, a beneficiary eligible to receive monthly benefits
pursuant to 169.670.4(2), RSMo, is eligible to receive a temporary retirement
allowance if the member would have been eligible to receive the temporary
retirement allowance. The temporary retirement allowance paid to such
beneficiary shall be administered in the same manner as if the member had
retired and elected Option 2 of section 169.670.4(2), RSMo.
(15) Pursuant to section 169.596,
RSMo, a person receiving a retirement benefit from the Public Education
Employee Retirement System of Missouri (PEERS) may be employed up to full-time
for no more than twenty-four (24) months for a PEERS-covered school district
without a suspension of his or her retirement benefit provided that such school
district certifies that it has met the requirements set forth in section
169.596, RSMo, and provided that such school district does not exceed the limit
on the number of PEERS retirees that may be hired pursuant to section 169.596,
RSMo.
(A) As used in section 169.596.2, RSMo,
"full-time" shall mean "regularly employed" as defined in 16 CSR
10-6.010(1).
(B) As used in section
169.596, RSMo, "early retirement incentive" shall have the same definition as
"consideration for agreeing to terminate employment" provided in 16 CSR
10-3.010(9)(B) 6., except that it shall not include retirement notice or
separation notice incentives of total value of five thousand dollars ($5,000)
or less for providing notice of intent to retire or separate
employment.
(C) The school district
shall notify PEERS in a manner acceptable to PEERS of the school district's
intent to hire a PEERS retiree under section 169.596, RSMo, prior to the first
date of such employment.
(D) A
school district hiring a PEERS retiree under section 169.596, RSMo, shall
certify to PEERS through the Online Automated System Integrated Solution
(OASIS) or in another manner acceptable to PEERS that-
1. It has met the requirements of section
169.596, RSMo; and
2. It has not
exceeded the limit on the number of PEERS retirees it may hire under section
169.596, RSMo.
(16) If the designated joint and survivor beneficiary
of a retiree who elected Option 2, 3, or 4 dies before the retired member, the
retired member's retirement allowance will be increased to the amount the
retired member would be receiving had the retired member elected Option 1. The
increase in retirement allowance shall be effective the month of the
beneficiary's death.
(17) Any
member receiving a retirement allowance from the Public Education Employee
Retirement System of Missouri who elected a reduced retirement allowance under
subsection 4 of section 169.670, RSMo, who, at the time of that election, named
his or her spouse as the nominated beneficiary may have the retirement
allowance increased to the amount the retired member would be receiving had the
retired member elected Option 1 under the following circumstances:
(A) Where the marriage of the retired member
and the nominated spouse was dissolved on or after September 1, 2017, the
dissolution decree must clearly provide for sole retention by the retired
member of all rights in the retirement allowance to the satisfaction of the
Public Education Employee Retirement System of Missouri;
(B) Where the marriage of the retired member
and the nominated spouse was dissolved prior to September 1, 2017:
1. If the dissolution decree clearly provides
for sole retention by the retired member of all rights in the retirement
allowance to the satisfaction of the Public Education Employee Retirement
System of Missouri, the parties must either obtain an amended or modified
dissolution decree after September 1, 2017, that provides for the immediate
removal of the nominated spouse, or the nominated spouse must sign a notarized
statement on a form designated by the Public Education Employee Retirement
System of Missouri consenting to his or her immediate removal as the nominated
beneficiary and disclaiming all rights to future benefits;
2. If the dissolution decree does not clearly
provide for sole retention by the retired member of all rights in the
retirement allowance to the satisfaction of the Public Education Employee
Retirement System of Missouri, the parties must obtain an amended or modified
dissolution decree after September 1, 2017, which provides for sole retention
by the retired member of all rights in the retirement allowance;
(C) The retired member and the
nominated spouse must have been married at the time of the election of the
reduced retirement allowance under subsection 4 of section 169.670,
RSMo;
(D) In order to receive the
increased retirement allowance, a retired member who elected a term certain
plan under subsection 4 of section 169.670, RSMo, must have named his or her
spouse as the primary beneficiary at the time of retirement. The increased
retirement allowance shall continue for the remainder of the retired member's
lifetime and no provisions of the term certain plan shall continue to apply to
the retired member. All beneficiaries nominated by the retired member under the
term certain plan shall be void, and the retired member must name new
beneficiaries for any accumulated contributions payable upon the retired
member's death. The retired member shall not be eligible to nominate a new
spouse pursuant to section 169.715, RSMo;
(E) A retired member who elected the Option 7
Accelerated Payment Option in conjunction with a reduced retirement allowance
under subsection 4 of section 169.670, RSMo, upon application for the increased
retirement allowance pursuant to section 169.715, RSMo, will have his or her
retirement allowance increased to the amount he or she would receive had he or
she elected Option 1 in conjunction with the Option 7 Accelerated Payment
Option; and
(F) Any such increase
in the retirement allowance shall be effective upon the receipt of an
application for such increase, including the nominated spouse's consent and
disclaimer form, if required, and a certified copy of the decree of dissolution
(and separation agreement, if applicable) that meets the requirements of this
section. The increased retirement allowance will be paid prospectively only
after receipt of all of the aforementioned documents. No retroactive benefits
will be paid.
*Original authority: 169.610, RSMo 1965, amended 1977,
2005.