Missouri Laws 104.1018 – Vesting of benefits, when — reemployment of member, effect of
1. When a member is no longer employed in a position covered by the system, membership in the system shall thereupon cease. If a member has five or more years of credited service upon such member’s termination of membership, such member shall be a vested former member entitled to a deferred annuity pursuant to section 104.1036. If a member has fewer than five years of credited service upon termination of membership, such former member’s credited service shall be forfeited, provided that if such former member becomes reemployed in a position covered by the system, such former member shall again become a member of the system and the forfeited credited service shall be restored after receiving creditable service continuously for one year.
2. Upon a member becoming a retiree, membership shall cease and, except as otherwise provided in section 104.1039, the person shall not again become a member of the system.
Terms Used In Missouri Laws 104.1018
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- Annuity: annual payments, made in equal monthly installments, to a retired member from funds provided for in, or authorized by, this chapter. See Missouri Laws 104.010
- Creditable service: the sum of membership service and creditable prior service, to the extent such service is standing to a member's credit as provided in this chapter. See Missouri Laws 104.010
- Member: as used in sections 104. See Missouri Laws 104.010
- person: may extend and be applied to bodies politic and corporate, and to partnerships and other unincorporated associations. See Missouri Laws 1.020
- Retiree: a member who is not an employee and who is receiving an annuity from a system pursuant to this chapter. See Missouri Laws 104.010
3. If a vested former member becomes reemployed in a position covered by the system before such vested former member’s annuity starting date, membership shall be restored with the previous credited service and increased by such reemployment.