Terms Used In Missouri Laws 50.1050

  • 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.

Any member who has attained the age of sixty-two years may retire with a normal annuity with eight or more years of creditable service as a county employee.

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