86.1600. Supplemental retirement benefit, amount, cost-of-living adjustments--special consultant, compensation--cost-of-living adjustments, rulemaking authority--member defined.
Supplemental retirement benefit, amount, cost-of-livingadjustments--special consultant, compensation--cost-of-livingadjustments, rulemaking authority--member defined.
86.1600. 1. Any member who retires subsequent to August 28, 1997,and on or before August 28, 2007, with entitlement to a pension undersections 86.1310 to 86.1640, and any member who retires subsequent toAugust 28, 2007, with entitlement to a pension under sections 86.1310 to86.1640 and who either has at least fifteen years of creditable service oris retired under subsection 1 of section 86.1560, shall receive each month,in addition to such member's base pension and cost-of-living adjustmentsthereto under section 86.1590, and in addition to any other compensation orbenefit to which such member may be entitled under sections 86.1310 to86.1640, a supplemental retirement benefit of fifty dollars per month. Theamount of such supplemental retirement benefit may be adjusted bycost-of-living adjustments determined by the retirement board not morefrequently than annually.
2. Any member who was retired on or before August 28, 1997, and isreceiving retirement benefits from the retirement system shall, uponapplication to the retirement board, be retained as a consultant, and forsuch services such member shall receive each month, in addition to suchmember's base pension and cost-of-living adjustments thereto under section86.1590, and in addition to any other compensation or benefit to which suchmember may be entitled under sections 86.1310 to 86.1640, a supplementalcompensation in the amount of fifty dollars per month. This appointment asa consultant shall in no way affect any member's eligibility for retirementbenefits under the provisions of sections 86.1310 to 86.1640, or in any wayhave the effect of reducing retirement benefits otherwise payable to suchmember. The amount of such supplemental compensation under this subsectionmay be adjusted by cost-of-living adjustments determined by the retirementboard not more frequently than annually.
3. In determining and granting the cost-of-living adjustments underthis section, the retirement board shall adopt such rules and regulationsas may be necessary to effectuate the purposes of this section, includingprovisions for the manner of computation of such adjustments and theeffective dates thereof. The retirement board shall provide for suchadjustments to be determined once each year and granted on a date or datesto be chosen by the board. The retirement board shall not be required toprorate the initial adjustment to any supplemental retirement benefit orany supplemental compensation under this section for any member.
4. For purposes of subsections 1 and 2 of this section, the term"member" shall include a surviving spouse who is entitled to a benefitunder sections 86.1310 to 86.1640, who shall be deemed to have retired forpurposes of this section on the date of retirement of the member of whomsuch person is the surviving spouse or on the date of death of such memberif such member died prior to retirement; provided, that no benefits shallbe payable under this section to the surviving spouse of any member whodied while in active service after August 28, 2007, unless such deathoccurred in the line of duty or course of employment or as the result of aninjury or illness incurred in the line of duty or course of employment orunless such member had at least fifteen years of creditable service. Thesurviving spouse of a member who died in service after August 28, 2007,whose death occurred in the line of duty or course of employment or as theresult of an injury or illness incurred in the line of duty or course ofemployment shall be entitled to benefits under subsection 1 of this sectionwithout regard to such member's years of creditable service. All benefitspayable to a surviving spouse under this section shall be in addition toall other benefits to which such surviving spouse may be entitled underother provisions of sections 86.1310 to 86.1640. Any qualifying survivingspouse of a member who dies while entitled to payments under this sectionshall succeed to the full amount of payment under this section to whichsuch member was entitled at the time of such member's death, including anycost-of-living adjustments received by such member in the payment underthis section prior to such member's death.
5. The determination of whether the retirement system will remainactuarially sound shall be made at the time any cost-of-living adjustmentunder this section is granted. If at any time the retirement system ceasesto be actuarially sound, supplemental retirement benefit payments undersubsection 1 of this section and supplemental compensation payments as aconsultant under subsection 2 of this section shall continue as adjusted byincreases or decreases theretofore granted. A member of the retirementboard shall have no personal liability for granting increases under thissection if that retirement board member in good faith relied and acted uponadvice of a qualified actuary that the retirement system would remainactuarially sound.
(L. 2005 H.B. 323, A.L. 2007 S.B. 172 merged with S.B. 406)