☰ Revisor of Missouri

Title VI COUNTY, TOWNSHIP AND POLITICAL SUBDIVISION GOVERNMENT

Chapter 56

< > Effective - 28 Aug 1993 bottom

  56.818.  Benefits, annual cost-of-living increase, limits. — 1.  Each member who retires on or after August 28, 1989, shall receive each year an increase in the amount of benefits received by the member during the preceding year equal to the increase in the consumer price index calculated in the manner hereinafter provided not to exceed two percent in any year.  The total increase in the amount of benefits received pursuant to the provisions of this subsection shall not exceed fifty percent of the initial benefit which the member received upon retirement.

  2.  For the purposes of this section, any increase in the consumer price index shall be determined by the board in May of each year, based upon the consumer price index for the preceding calendar year over the consumer price index for the calendar year immediately prior thereto.  Any increase so determined shall be applied by the board in calculating any benefit increases that become payable under this section for the twelve-month period beginning with the June first immediately following such determination.

  3.  An annual increase shall be payable monthly beginning on a date specified by the board.  Nothing in this section shall be construed to prohibit a member from waiving his right to receive the annual increase provided pursuant to this section.  The waiver shall be final as to the annual increase waived.

­­--------

(L. 1989 S.B. 30 § 56.815, A.L. 1993 S.B. 169)


---- end of effective  28 Aug 1993 ----

use this link to bookmark section  56.818


Click here for the Reorganization Act of 1974 - or - Concurrent Resolutions Having Force & Effect of Law
In accordance with Section 3.090, the language of statutory sections enacted during a legislative session are updated and available on this website on the effective date of such enacted statutory section. Revisor Home    

Other Information
 Recent Sections Editorials May Be Cited As Tables & Forms Multiple Enact
Repeal & Transfer Definitions End Report

Site changes Pictures Contact

Other Links
Legislative Research Oversight MOLIS
Library MO WebMasters
Senate
Missouri Senate
State of Missouri
MO.gov
House
Missouri House