Missouri Revised Statutes













Chapter 169

Teacher and School Employee Retirement Systems

←169.033

Section 169.035.1

169.040→

August 28, 2015

Additional deposits by members, when.

169.035. A member may at the member's option, and under such regulations

as the board of trustees may adopt, deposit additional sums in multiples of

twenty-five dollars but not to exceed in total in any one year ten percent of

the compensation on which contributions were collected during that year. Such

deposits, together with interest thereon compounded in the same manner and at

the same rate as for the member's contributions, shall be available to

provide at the date of the member's retirement at net rates based on the

actuarial assumptions then in use, a retirement allowance in addition to that

provided pursuant to section 169.070. In the event of the death of a member

before receiving a retirement allowance, the total amount of such accumulated

deposits with interest shall be paid to the member's beneficiary, or to the

member's estate if there is no beneficiary. In the event of the termination

of membership before the member receives a retirement allowance, the member

shall be paid the total amount of such accumulated deposits with interest if

the member has contributed for more than five years, but without interest if

the member has contributed for not more than five years. Such deposits may be

withdrawn without interest by a member prior to the member's retirement when

the member is not terminating the member's membership, in accordance with

regulations of the board of trustees. In case a retired member who is

receiving such an additional retirement allowance pursuant to this section

dies without having received in additional retirement allowances an amount

equal to the amount of the member's accumulated deposits at retirement, the

difference shall be paid to the member's beneficiary, or to the member's

estate if there is no beneficiary. The option provided by this section shall

apply only to members who have elected to begin such deposits before

September 1, 1996.



(L. 1953 p. 480 § 169.030, A.L. 1996 S.B. 860)







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