PURPOSE: This rule establishes the executive director’s authority to implement actuarial reduction factors for early retirement annuities.

The executive director shall have the authority to implement the reduction factors for early retirement annuities authorized by section 104.100, RSMo. The factors shall be derived from the actuarial assumptions for the system approved by the board.

AUTHORITY: sections 104.100 and 104.210.2, RSMo Supp. 1988 and 536.023.3, RSMo 1986.* Original rule filed Feb. 5, 1993, effective July 8, 1993. *Original authority: 104.100, RSMo 1955, amended 1961, 1969, 1972, 1976, 1981, 1982, 1986, 1988; 104.210.2, RSMo 1955, amended 1983, 1988; and 536.023.3, RSMo 1975, amended 1976.