104.1036. Deferred annuity, when--annuity starting date election--death of member, effect on annuity. - Missouri Statutes

Deferred annuity, when--annuity starting date election--death ofmember, effect on annuity.

104.1036. 1. A member with five or more years of credited servicewho ceases to be a member, except by reason of death or retirement, shallbe a vested former member entitled to a deferred annuity provided for inthis section.

2. A vested former member shall be eligible to elect an annuitystarting date at any time after attaining age fifty-seven by submitting awritten application therefor not earlier than ninety days before attainmentof fifty-seven years of age. The vested former member shall have the rightto elect an option provided for in section 104.1027, subject to theprovisions of subsection 2 of section 104.1027. No deferred annuity shallbe paid if the vested former member becomes employed in a position coveredby the year 2000 plan and does not terminate employment prior to theannuity starting date.

3. If the deferred annuity commences on or after age sixty-two, theannuity amount shall be calculated in the same manner as the annuityspecified in subsection 2 of section 104.1024. If the deferred annuitycommences before the vested former member's normal retirement eligibility,the annuity amount shall be calculated in the same manner as the annuityspecified in subsection 2 of section 104.1033.

4. If the vested former member dies before the annuity starting date,the surviving spouse and dependent children shall be covered by theprovisions of section 104.1030.

(L. 1999 S.B. 308 & 314)