86.354. Benefit vested and nonforfeitable, when--forfeitures, use of. - Missouri Statutes

Benefit vested and nonforfeitable, when--forfeitures, use of.

86.354. A member's benefit shall be one hundred percent vested andnonforfeitable upon the member's attainment of normal retirement age of theearlier of age fifty-five or completion of twenty years of creditableservice or, if earlier, and to the extent funded, upon the termination ofthe plan established pursuant to sections 86.200 to 86.366. Forfeitures ofany nature under such plan shall not be used to increase the benefits ofany member, but shall be used to reduce the city's contributions pursuantto section 86.243.

(L. 1995 H.B. 260, et al. § 6, A.L. 2000 H.B. 1808)

Effective 7-1-00