104.1084. Retirement benefits, general assembly members--COLA permitted, when--ineligibility for benefits.
Retirement benefits, general assembly members--COLA permitted,when--ineligibility for benefits.
104.1084. 1. For members of the general assembly, the provisions ofthis section shall supplement or replace the indicated other provisions ofthe year 2000 plan. "Normal retirement eligibility" means attainment ofage fifty-five for a member who has served at least three full biennialassemblies or the attainment of at least age fifty for a member who hasserved at least three full biennial assemblies with a total of years of ageand years of credited service which is at least eighty. A member shallreceive two years of credited service for every full biennial assemblyserved. A full biennial assembly shall be equal to the period of timebeginning on the first day the general assembly convenes for a firstregular session until the last day of the following year. If a memberserves less than a full biennial assembly, the member shall receivecredited service for the pro rata portion of the full biennial assemblyserved.
2. For the purposes of section 104.1024, the normal retirementannuity of a member of the general assembly shall be an amount for lifeequal to one twenty-fourth of the monthly pay for a senator orrepresentative on the annuity starting date multiplied by the years ofcredited service as a member of the general assembly. In no event shallany such member or eligible beneficiary receive annuity amounts in excessof one hundred percent of pay.
3. To be covered by the provisions of section 104.1030, or section104.1036, a member of the general assembly must have served at least threefull biennial assemblies.
4. For members who are statewide elected officials, the provisions ofthis section shall supplement or replace the indicated other provisions ofthe year 2000 plan. "Normal retirement eligibility" means attainment ofage fifty-five for a member who has served at least four years as astatewide elected official, or the attainment of age fifty with a total ofyears of age and years of such credited service which is at least eighty.
5. For the purposes of section 104.1024, the normal retirementannuity of a member who is a statewide elected official shall be an amountfor life equal to one twenty-fourth of the monthly pay in the highestoffice held by such member on the annuity starting date multiplied by theyears of credited service as a statewide elected official not to exceedtwelve years.
6. To be covered by the provisions of sections 104.1030 and 104.1036,a member who is a statewide elected official must have at least four yearsas a statewide elected official.
7. The provisions of section 104.1045 shall not apply to personscovered by the general assembly and statewide elected official provisionsof this section. Persons covered by the general assembly provisions andreceiving a year 2000 plan annuity shall be entitled to a cost-of-livingadjustment (COLA) when there are increases in pay for members of thegeneral assembly. Persons covered by the statewide elected officialprovisions and receiving a year 2000 plan annuity shall be entitled toCOLAs when there are increases in the pay for statewide elected officialsin the highest office held by such person. The COLA described in thissubsection shall be equal to and concurrent with the percentage increase inpay as described in section 105.005, RSMo. No COLA shall be less thanzero.
8. Any member who serves under this chapter as a member of thegeneral assembly or as a statewide elected official on or after August 28,1999, shall not be eligible to receive any retirement benefits from thesystem under either the closed plan or the year 2000 plan based on servicerendered on or after August 28, 1999, as a member of the general assemblyor as a statewide elected official if such member is convicted of a felonythat is determined by a court of law to have been committed in connectionwith the member's duties either as a member of the general assembly or as astatewide elected official, unless such conviction is later reversed by acourt of law.
9. A member of the general assembly who has purchased or transferredcreditable service shall not be subject to the cap on benefits pursuant tosubsection 2 of this section for that portion of the benefit attributableto the purchased or transferred service.
(L. 1999 S.B. 308 & 314, A.L. 2002 H.B. 1455)Effective 7-11-02