104.1090. Additional credited service, when.

MISSOURI STATUTES AND CODES

104.1090. Additional credited service, when.

Additional credited service, when.

104.1090. 1. Any member who as described in subdivision (1) ofsubsection 1 of section 104.1009 has been employed in a position covered bythe system for at least ten or more years and has received credited servicefor such employment in the year 2000 plan shall receive additional creditedservice for previous public employment within the state covered by anotherretirement plan as defined in section 105.691, RSMo, if all of thefollowing conditions are met:

(1) Such member has a vested right to receive a retirement benefitfrom the other retirement plan at the time of application pursuant to thissection;

(2) The other retirement plan transfers to the system an amount equalto the employee's account balance under a defined contribution plan or theamount equal to the employee's pension benefit obligation under a definedbenefit plan at the time of transfer to the extent that obligation isfunded as of the plan's most recent actuarial valuation, not to exceed onehundred percent, as determined by the other retirement plan's actuary usingthe same assumption used in performing the last regular actuarial valuationof the transferring plan, except that in no event shall the transferredamount be less than the employee's accumulated contributions on depositwith the transferring plan;

(3) No such credited service remains credited in such otherretirement plan;

(4) The member applies for the additional credited service prior tothe members's annuity starting date in manner and form established by theappropriate board. Such additional credited service shall be added to thecredited service in the first position of employment held as a member ofthe system; and

(5) The other retirement plan enters into an agreement with thesystem to comply with the provisions of this section.

2. Any member described in subsection 3 of section 104.1015 whoelects to be covered by the year 2000 plan shall be eligible to receiveservice under the terms and conditions of subsection 1 of this section.