169.320. Member may retire, when. - Missouri Statutes

Member may retire, when.

169.320. The board of trustees shall allow retirement of a member ona service retirement allowance under the following circumstances: Anyvested member may retire on an annual service retirement allowance uponwritten application to the board of trustees setting forth at what futuretime the person desires to be retired; provided, that the member at thetime so specified for retirement shall have attained the minimum normalretirement age, notwithstanding that during such period of notification orat any other time the person may have separated from service. Any memberhaving thirty years of creditable service regardless of age may voluntarilyretire upon giving advance written notice to the board of trustees andshall thereafter be entitled to receive monthly payments which are theactuarial equivalent of the monthly payments to which the person would havebeen entitled had the person's retirement been at the minimum normalretirement age. Any member who desires to retire under the provisions ofsection 169.563 shall give the board of trustees at least sixty days'written notice of his or her desire to do so.

(L. 1943 p. 787 § 6, A.L. 1945 p. 1342, A.L. 1951 p. 477, A.L. 1957 p. 396, A.L. 1961 p. 369, A.L. 1967 1st Ex. Sess. p. 885, A.L. 1978 H.B. 1503, A.L. 1982 H.B. 1522, A.L. 1984 H.B. 1470, A.L. 1989 S.B. 146, A.L. 1993 S.B. 126, A.L. 1994 S.B. 575, A.L. 1995 S.B. 378)