86.253. Service retirement allowance, how calculated--military service credit--contributions refund, when--retiree, surviving spouses, special consultants, when, benefits reduced, when. - Missouri Statutes

Service retirement allowance, how calculated--military servicecredit--contributions refund, when--retiree, surviving spouses,special consultants, when, benefits reduced, when.

86.253. 1. Upon termination of employment as a police officer andactual retirement for service, a member shall receive a service retirementallowance which shall be an amount equal to two percent of the member'saverage final compensation multiplied by the number of years of themember's creditable service, up to twenty-five years, plus an amount equalto four percent of the member's average final compensation for each year ofcreditable service in excess of twenty-five years but not in excess ofthirty years; plus an additional five percent of the member's average finalcompensation for any creditable service in excess of thirty years.Notwithstanding the foregoing, the service retirement allowance of a memberwho does not earn any creditable service after August 11, 1999, shall notexceed an amount equal to seventy percent of the member's average finalcompensation, and the service retirement allowance of a member who earnscreditable service on or after August 12, 1999, shall not exceed an amountequal to seventy-five percent of the member's average final compensation;provided, however, that the service retirement allowance of a member who isparticipating in the DROP pursuant to section 86.251 on August 12, 1999,who returns to active participation in the system pursuant to section86.251, and who terminates employment as a police officer and actuallyretires for reasons other than death or disability before earning at leasttwo years of creditable service after such return shall be the sum of (1)the member's service retirement allowance as of the date the member enteredDROP and (2) an additional service retirement allowance based solely on thecreditable service earned by the member following the member's return toactive participation. The member's total years of creditable service shallbe taken into account for the purpose of determining whether the additionalallowance attributable to such additional creditable service is twopercent, four percent or five percent of the member's average finalcompensation.

2. If, at any time since first becoming a member of the retirementsystem, the member has served in the armed forces of the United States, andhas subsequently been reinstated as a policeman within ninety days afterthe member's discharge, the member shall be granted credit for such serviceas if the member's service in the police department of such city had notbeen interrupted by the member's induction into the armed forces of theUnited States. If earnable compensation is needed for such period incomputation of benefits it shall be calculated on the basis of thecompensation payable to the officers of the member's rank during the periodof the member's absence. Notwithstanding any provision of sections 86.200to 86.366 to the contrary, the retirement system governed by sections86.200 to 86.366 shall be operated and administered in accordance with theapplicable provisions of the Uniformed Services Employment and ReemploymentRights Act of 1994, as amended.

3. The service retirement allowance of each present and futureretired member who terminated employment as a police officer and actuallyretired from service after attaining age fifty-five or after completingtwenty years of creditable service shall be increased annually at a ratenot to exceed three percent as approved by the board of trustees beginningwith the first increase in the second October following the member'sretirement and subsequent increases in each October thereafter, providedthat each increase is subject to a determination by the board of trusteesthat the consumer price index (United States City Average Index) aspublished by the United States Department of Labor shows an increase of notless than the approved rate during the latest twelve-month period for whichthe index is available at the date of determination; and provided further,that if the increase is in excess of the approved rate for any year, suchexcess shall be accumulated as to any retired member and increases may begranted in subsequent years subject to a maximum of three percent for eachfull year from October following the member's retirement but not to exceeda total percentage increase of thirty percent. In no event shall theincrease described under this subsection be applied to the amount, if any,paid to a member or surviving spouse of a deceased member for services as aspecial consultant under subsection 5 of this section or, if applicable,subsection 6 of this section. If the board of trustees determines that theindex has decreased for any year, the benefits of any retired member thathave been increased shall be decreased but not below the member's initialbenefit. No annual increase shall be made of less than one percent and nodecrease of less than three percent except that any decrease may be limitedin amount by the initial benefit.

4. In addition to any other retirement allowance payable under thissection and section 86.250, a member, upon termination of employment aspolice officer and actual service retirement, may request payment of thetotal amount of the member's mandatory contributions to the retirementsystem without interest. Upon receipt of such request, the board shall paythe retired member such total amount of the member's mandatorycontributions to the retirement system to be paid pursuant to thissubsection within sixty days after such retired member's date oftermination of employment as a police officer and actual retirement.

5. Any person who is receiving retirement benefits from theretirement system, upon application to the board of trustees, shall bemade, constituted, appointed and employed by the board of trustees as aspecial consultant on the problems of retirement, aging and other matters,for the remainder of the person's life or, in the case of a deceasedmember's surviving spouse, until the earlier of the person's death orremarriage, and upon request of the board of trustees shall give opinionsand be available to give opinions in writing or orally, in response to suchrequests, as may be required. For such services the special consultantshall be compensated monthly, in an amount which, when added to any monthlyretirement benefits being received from the retirement system, includingany cost-of-living increases under subsection 3 of this section, shalltotal six hundred fifty dollars a month. This employment shall in no wayaffect any person's eligibility for retirement benefits under this chapter,or in any way have the effect of reducing retirement benefits,notwithstanding any provisions of law to the contrary.

(L. 1957 p. 256 § 17, A.L. 1965 p. 204, A.L. 1967 p. 162, A.L. 1969 p. 151, A.L. 1973 S.B. 94, A.L. 1975 S.B. 349, A.L. 1977 H.B. 53, A.L. 1979 H.B. 850, A.L. 1981 S.B. 260, A.L. 1983 H.B. 664, A.L. 1986 S.B. 443, A.L. 1993 S.B. 250, A.L. 1995 H.B. 260, et al., A.L. 1997 H.B. 331, A.L. 1999 S.B. 308 & 314, A.L. 2000 H.B. 1808, A.L. 2001 S.B. 290, A.L. 2006 S.B. 871)