86.1640. Incentives for early retirement, board to administer and pay. - Missouri Statutes

Incentives for early retirement, board to administer and pay.

86.1640. If a city and the police department of such city adopt anyprogram of incentives to authorize or encourage early retirements, whetherfor employees not yet eligible for regular retirement or for employees whoare eligible but have not yet chosen to retire or for both, the retirementboard shall be authorized to administer and pay such incentives forretirees who accept such incentives and are members of the retirementsystem under sections 86.1310 to 86.1640, in addition to such otherbenefits as such members or their beneficiaries are entitled to receiveunder sections 86.1310 to 86.1640, provided such city shall so request andshall agree to increase said city's contribution under section 86.1390sufficiently to provide the full actuarial cost of any such incentives inaddition to the contribution required of such city necessary, inconjunction with members' contributions under section 86.1400, to provideall other benefits provided under sections 86.1310 to 86.1640.

(L. 2005 H.B. 323)