104.060. No payroll deductions--accumulated contributions refunded, when, to whom.
No payroll deductions--accumulated contributions refunded, when,to whom.
104.060. 1. No payroll deduction shall be made from thecompensation of any employee for the Missouri state highwayemployees' and highway patrol retirement system fund after August13, 1976.
2. When a member who was an employee on August 13, 1976,thereafter retires or when a former member who has been restoredcreditable service in accordance with the provisions ofsubsections 4 and 6 of section 104.050 retires or who is entitledto a deferred annuity under subsection 4 of section 104.030, theboard shall pay him an amount equal to his accumulatedcontributions and credited interest not previously refunded tothe date of his retirement. This amount is in addition to anyretirement benefits to which he is entitled.
3. When an employee dies after August 13, 1976, the boardshall pay to such beneficiary as the employee may have designatedin writing or to his estate if no beneficiary be designated anamount equal to his accumulated contributions plus creditedinterest not previously refunded to the date of death.
4. Within ninety days after February 14, 1980, or withinninety days after reinstatement of membership under subsection 6of section 104.050, whichever occurs later, when a member orvested member who was an employee on or after August 13, 1976,shall so request in writing, the board shall immediately pay tothat employee all accumulated contributions made on account ofservice rendered through August 13, 1976, and not previouslyrefunded, plus credited interest to the date the payment is madeby the board, and such refund of contributions and interest shallnot in any way change any benefits or rights which the employeemay be entitled to from the system.
(L. 1955 p. 718 § 15, A.L. 1965 p. 223, A.L. 1969 p. 174, A.L. 1972 S.B. 650, A.L. 1976 H.B. 1211, A.L. 1980 H.B. 983)Effective 2-14-80