169.328. Accumulated contributions returned to member, when. - Missouri Statutes

Accumulated contributions returned to member, when.

169.328. 1. Should a member cease to be a regular employee, exceptby retirement, the member, if living, shall be paid on demand, made bywritten notice to the board of trustees, the amount of the person'saccumulated contributions (with interest as determined by the board oftrustees as provided in sections 169.270 to 169.400) standing to the creditof the person's individual account in the employees' contribution fund.The accumulated contributions with interest shall not be paid to a memberso long as the person remains a regular employee or before the memberincurs a break in service. If the member dies before retirement suchaccumulated contributions (with interest) shall be paid to the member'sestate or designated beneficiary unless the provisions of subsection 3 ofsection 169.326 apply.

2. If a former unvested member's accumulated contributions have notbeen withdrawn four years after the person has ceased to be a member (otherthan by reason of death or retirement), the board of trustees shall pay thesame to such former member within a reasonable time after the expiration ofsuch four-year period.

3. If, on account of undeliverability, improper mailing or forwardingaddress, or other similar problem, the board of trustees is unable torefund the accumulated contributions of a former unvested member or tocommence payment of retirement benefits within four years after the end ofthe calendar year in which such former member ceased to be a regularemployee, the board may transfer the accumulated contributions to thegeneral reserve fund. If, thereafter, written application is made to theboard of trustees for such refund or benefits, the board shall cause thesame to be paid from the general reserve fund, but no interest shall beaccrued after the end of the fourth year following the end of the calendaryear in which such former member ceased to be a regular employee.

4. In its discretion the board of trustees may approve extensions ofany time periods in this section on account of a former member's militaryor naval service, academic study or illness.

(L. 1943 p. 787 § 6, A.L. 1945 p. 1342, A.L. 1951 p. 477, A.L. 1957 p. 396 § 169.320, A.L. 1961 p. 369, A.L. 1982 H.B. 1522, A.L. 1994 S.B. 575, A.L. 1995 S.B. 378, A.L. 1997 H.B. 169 merged with S.B. 309, A.L. 1998 H.B. 1299 merged with S.B. 761, A.L. 2004 H.B. 1502 merged with S.B. 1242)