Missouri Revised Statutes













Chapter 169

Teacher and School Employee Retirement Systems

←169.610

Section 169.611.1

169.620→

August 28, 2015

Community college district retirement system may merge with public education employees' retirement system.

169.611. 1. The board may enter into an agreement with the board of

trustees of any community college district, which maintains a local

retirement system for its employees who are not members of the public school

retirement system of Missouri, to provide for the merger of the local

retirement system into the system and, in connection with such merger, for

the transfer of assets and liabilities from the local retirement system to the

system, the inclusion of members of the local retirement system and all other

eligible employees as members of the system, and the continuation of

retirement, disability and death benefits to former members and beneficiaries

of former members of the local retirement system by the system.



2. The merger agreement shall require membership in the system as of the

effective date of the merger for all employees of the community college

district who meet the definition of "employee" as set forth in section

169.600, RSMo 1978, including any employees who may not be members of the

local retirement system as of the date of the merger agreement.



3. If the separate boards of trustees of the public school retirement

system of Missouri and the community college district enter into an agreement

for a merger of the local retirement system into the system, the assets and

liabilities of the local retirement system, as specified in the merger

agreement, existing at the effective date of the merger, shall become the

property of the system, and the local retirement system shall cease to exist

as of that date.



4. Members of the local retirement system of a community college

district who become members of the system under this section shall receive

credit in the system for credit established with the local retirement system.



5. The separate boards of trustees of the public school retirement

system of Missouri and the community college district may enter into an

agreement of merger under this section if the actuary employed by the public

school retirement system of Missouri certifies that the merger will not

actuarially impair the system. The merger agreement shall specify those

assets and liabilities of the local retirement system to be transferred and

shall provide for the payment of any necessary additional funds to the system

by the community college district so that the merger will not actuarially

impair the system.



6. No employee of a community college or member of the local retirement

system who becomes a member of the system, or his beneficiary, may receive

benefits greater or lesser in amount than that payable to any other member,

or his beneficiary, of the system with the same creditable service and

earnings records. This provision shall not apply to those former members of

the local retirement system, or their beneficiaries, who are receiving monthly

benefits from the local retirement system at the effective date of the merger.



7. Any retirement, disability, or death benefits being paid by the local

retirement system to former members, or beneficiaries of such members, as of

the effective date of the merger shall be continued by the system, and shall

extend for the same period as was specified under the rules of the local

retirement system which initiated the benefits.



(L. 1984 S.B. 481)







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