Missouri Code of State Regulations
Title 16 - RETIREMENT SYSTEMS
Division 20 - Missouri Local Government Employees' Retirement System (LAGERS)
Chapter 2 - Administrative Rules
Section 16 CSR 20-2.095 - Member Deposit Fund Interest Procedure

Universal Citation: 16 MO Code of State Regs 20-2.095

Current through Register Vol. 49, No. 18, September 16, 2024

PURPOSE: The purpose of this rule is to clarify the procedures to be used in crediting interest to member deposit fund accounts.

(1) The member's date of employment and date of termination shall be used in determining eligibility for interest.

(2) A member who is vested upon termination shall be considered a deferred retirant for the purposes of interest crediting, provided the member elects in writing to wait to receive any refund until after the interest processing is completed for that fiscal year.

(3) In determining eligibility for interest, should a member be employed long enough in the month of June to receive service credit for that month, s/he shall be considered a member as of June 30 for interest purposes.

(4) A member certified to be on leave of absence by his/her employer shall be considered a member for interest purposes.

*Original authority: 70.605, RSMo 1967, amended 1974, 1992 and 2000 and 70.725, RSMo 1967.

Disclaimer: These regulations may not be the most recent version. Missouri may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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