Mo. Rev. Stat. ch. 169 – Teacher and School Employee Retirement Systems | Midpage

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Revised Statutes of Missouri

Chapter 169

Mo. Rev. Stat. ch. 169

Teacher and School Employee Retirement Systems

169.010Definitions 169.020System created, what districts included — trustees, appointment, terms, qualifications, election, duties — venue — audit, when — interest 169.021Transfer of teachers from urban district to state retirement system — procedure 169.022Board of education in sections 169.020 and 169.021 defined 169.030Contributions by members and employees, exceptions — rate — withholding required — board to fix rate, conditions 169.033Contributions by members may be required to be credited to members' accounts by employer, board may adopt plan 169.035Additional deposits by members, when 169.040Funds of retirement system, how invested — delegation of investment authority — investments, manner of making, form — designated depository — electronic funds transfer required — closed meetings authorized, when 169.045Bank deposits of system, how secured 169.050Membership — prior service credit, withdrawal — reinstatement contributions 169.055Purchase of equivalent service, leave of absence — part-time teachers may receive creditable service, when 169.056Private school, defined — membership credit for service in private school, purchase, payment, requirements 169.060Retirement and disability 169.070Retirement allowances, how computed, election allowed, time period — options — effect of federal O.A.S.I. coverage — cost-of-living adjustment authorized — limitation of benefits — employment of special consultant, compensation, minimum benefits 169.073Partial lump sum distribution, when — options — calculation for changes in distribution amount — death, effect of 169.075Survivors' benefits, options — purchase of prior service credits for previous service in another Missouri public school retirement system, cost — monthly retirement allowance — special consultant qualification, compensation, duties — death prior to receipt of total accumulated benefits, effect of 169.076Death without a valid designated beneficiary, effect of — most recent valid designation of beneficiary revokes previous designations 169.080Correction of errors in benefits — adjustment 169.090Funds not subject to execution, garnishment, attachment 169.100Gifts accepted 169.110Appropriations made by general assembly to be repaid in two-year period 169.130Teachers at state institutions prior to August 13, 1986, to be members — teachers employed by teachers' association to be members — contributions 169.140Community college, public, full-time employee may be member of retirement system, exception 169.141Successor beneficiary may be nominated by person receiving reduced allowance, when, procedure — allowance increase, when — same-sex partners as successor beneficiaries, requirements 169.270Definitions 169.280Retirement system created — system, how managed — federal qualified plan, intent as, administration of plan, effect on 169.291Board of trustees, qualifications, terms — superintendent of school district to be member — vacancies — lapse of corporate organization, effect of — oaths — officers — expenses — powers and duties — medical board, appointment — actuary designated — contribution rates of employers, amount 169.295Board of trustees, powers and duties 169.296Indemnity and protection of trustee or employee, limitations — insurance — notice required, when 169.301Retirement benefits to vest, when — amount, how computed — option of certain members to transfer plans, requirements — retirant becoming active member, effect on benefits — termination of system, effect of — military service, effect of 169.311One year creditable service, how computed 169.315Rules, regulations to permit purchase of creditable service, requirements — eligibility 169.320Member may retire, when 169.322Retirement for disability — periodic examination — subsequent reemployment and retirement 169.324Retirement allowances, amounts — retirants may substitute without affecting allowance, limitation — annual determination of ability to provide benefits, standards — action plan for use of minority and women money managers, brokers and investment counselors 169.326Optional plans for payment of benefits — limitations — waiver 169.328Accumulated contributions returned to member, when — eligible rollover distributions, election for distribution 169.331Retired teachers may teach full time without loss of benefits, when — school district requirements 169.350Assets held in two funds — source and disbursement — deductions — contributions, employer may elect to pay part or all of employee's contribution, procedure — rate of contributions to be calculated 169.360Trustees shall report annually to employers district's contribution, certification — transfer of funds 169.370Obligations chargeable to general revenue fund — alteration of existing rights prohibited 169.380Immunity from execution, garnishment or attachment 169.390Limitation of state contributions 169.395Procedural requirements waived for members, retirants and beneficiaries, by board of trustees, when 169.400Correction of errors in benefits — adjustment 169.410Definitions 169.420Retirement system — how managed 169.430Who shall be members 169.435Revocation of election of coverage made on or ninety days after October 13, 1961, procedure, effect on creditable service 169.440Years of service, how determined — purchase of credit for service, limitations and conditions 169.450Trustees — selection, qualifications, powers and duties — circuit court's jurisdiction over board — board's authority to make rules for administering assets of system 169.460Retirement, when — pensions, how computed — early retirement, when, pensions, how computed — disability retirement, when, pensions, how computed — death before retirement, effect of — beneficiary defined, benefits, how computed — retirants may become active, how — minimum benefits, when 169.466Annual pension increase, when 169.471Board of education authorized to increase retirement benefits, adopt and implement additional plans 169.475Retired member, employment as special advisor, duties, compensation — district to reimburse system, when 169.476Insurance for retired members may be provided — rules and regulations 169.480Board to be trustees of funds — investment — income credited — payments, how made — current funds kept — duties of trustees 169.490Assets of system to be held as one fund — contribution, rate, how collected 169.500Certification of amount to be paid to retirement system, inclusion in annual budget estimates 169.510Obligations of system paid how — effect of change in law 169.520Funds not subject to execution, garnishment or attachment and not assignable — exceptions 169.530False statement, misdemeanor — correction of records — adjustment 169.540State shall contribute no funds — exceptions 169.560Retirees may be employed, when — salary amount, effect on benefits, exception 169.561Retirees return to work considered new membership in applicable retirement system — vesting period, contributions, service credit — termination, withdrawal of contributions, when 169.563Retirement in certain systems at fifty-five or older with five years service, procedure, computation of benefits 169.566School retirement systems to conduct study 169.569Joint rules promulgated, procedure 169.570Employment of person having rights in more than one retirement system, may purchase membership credit — purchase of equivalent credit, when, requirements 169.572Dissolution of marriage, court not to divide retirement benefits or Social Security benefits 169.573Plan for utilization of minority professionals, report 169.574Members may designate trust as beneficiary 169.576Authorizes board to provide for reciprocal creditable service transfers with other states 169.577Purchase of additional creditable service to achieve minimum time required for allowance — request, form, purchase, requirements, term 169.585Certain retired teachers to be employed by retirement system as special school advisors and supervisors, when — actuarially unsound, effect of 169.587Benefits exempted from taxation and creditors — benefits not assignable 169.589Discharge from Armed Forces, defined — members may elect to pay contribution to system for service time — reemployment by school district, contribution by district to be paid, when 169.590Health plans for school district employees to include retirees, families of retirees and survivors 169.595Sick leave or under workers' compensation, employee may receive creditable service for leave time, requirements 169.596Retired teacher may teach full time without loss of retirement benefits, when — school district requirements 169.597Hancock amendment standing — certain statutes void, when 169.600Definitions 169.610System established — board of trustees to administer — funds to be kept separate 169.611Community college district retirement system may merge with public education employees' retirement system 169.620Contributions by members and employers — rate — penalty for failure to remit — benefits to be reduced, when — purchase of service credit, certain members, how 169.625Board of trustees may adopt plan requiring all contributions by employee to be paid directly to retirement system 169.630Funds of system, how invested, how accounted for — bank or trust company to serve as depository and intermediary in investment of funds — title to securities, form — electronic funds transfer — closed meetings authorized, when 169.640Bank deposits of system, how secured 169.650Membership — prior service credit — reinstatement — procedure 169.655Purchase of membership credit for service to organization supporting education or research — limitations, requirements — transfer of funds 169.660Eligibility for retirement, when — temporary-substitute service for retiree authorized, limitation, no contribution from retiree required 169.663Disability retirement, when — return to duty, effect of disability payments — disability defined 169.670Benefits, how computed — beneficiary benefits, options, election of 169.673Partial lump sum distribution, when — changes in distribution amount, formula — death, effect of 169.676Death without a valid beneficiary designation, effect of — most recent valid designation of beneficiary revokes previous designations 169.680Penalty for false statements — correction of errors in benefits — adjustment 169.690Funds not subject to execution, garnishment, attachment 169.700Gifts accepted 169.712Transfer to public school retirement system, certain public education employees, procedure 169.715Successor beneficiary may be nominated by person receiving reduced allowance, when, procedure — increase permitted, when — same-sex partners as successor beneficiaries, when 169.750Indemnification permitted, when — insurance or indemnity policies authorized