476.687. Previous state employment, additional credited service. - Missouri Statutes

Previous state employment, additional credited service.

476.687. Any judge as defined in section 476.515 who is activelyserving pursuant to this chapter or chapter 56, RSMo, and has served for atleast ten years shall receive additional credited service for previouspublic employment with the state covered by another retirement plan asdefined in section 105.691, RSMo, if all of the following conditions aremet:

(1) Such member has a vested right to receive a retirement benefitfrom the other retirement plan at the time of application pursuant to thissection and is not a retiree under the other retirement plan;

(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 obligation under a defined benefitplan at the time of transfer to the extent that obligation is funded as ofthe plan's most recent actuarial valuation, not to exceed one hundredpercent, as determined by the other retirement plan's actuary using thesame assumption used in performing the last regular actuarial valuation ofthe transferring plan, except that in no event shall the transferred amountbe less than the employee's accumulated contributions on deposit with thetransferring plan;

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

(4) The member applies for the additional credited service in amanner and form established by the appropriate board.

(L. 2000 H.B. 1808)

Effective 7-1-00