Missouri Laws 104.120 – Accumulated contributions paid as death benefit, when
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Terms Used In Missouri Laws 104.120
- Accumulated contributions: the sum of all deductions for retirement benefit purposes from a member's compensation which shall be credited to the member's individual account and interest allowed thereon. See Missouri Laws 104.010
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Beneficiary: any persons or entities entitled to or nominated by a member or retiree who may be legally entitled to receive benefits pursuant to this chapter. See Missouri Laws 104.010
- Member: as used in sections 104. See Missouri Laws 104.010
Upon the death of any member prior to his retirement, the board shall as soon as practicable pay to such beneficiary as the member may have designated in writing, or to his estate if no beneficiary be designated, a death benefit equal to the amount of the member’s accumulated contributions.