§ 476.687 — Previous state employment, additional credited service.

Missouri § 476.687

• Jurisdiction: Missouri
• Title XXXII: COURTS
• Ch. 476: Courts — General Provisions

Text

Any judge as defined in section 476.515 who is actively serving pursuant to this chapter or chapter 56 and has served for at least ten years shall receive additional credited service for previous public employment with the state covered by another retirement plan as defined in section 105.691 , if all of the following conditions are met:

(1)  Such member has a vested right to receive a retirement benefit from the other retirement plan at the time of application pursuant to this section and is not a retiree under the other retirement plan;

(2)  The other retirement plan transfers to the system an amount equal to the employee's account balance under a defined contribution plan or the amount equal to the employee's pension obligation under a defined benefit plan at the time of transfer to the extent that obligation is funded as of the plan's most recent actuarial valuation, not to exceed one hundred percent, as determined by the other retirement plan's actuary using the same assumption used in performing the last regular actuarial valuation of the transferring plan, except that in no event shall the transferred amount be less than the employee's accumulated contributions on deposit with the transferring plan;

(3)  No such credited service remains credited in such other retirement plan;

(4)  The member applies for the additional credited service in a manner and form established by the appropriate board.

Legislative History

(L. 2000 H.B. 1808) Effective 7-01-00