Revisor Home

previous nextEffective 28 Aug 1998

Title VI COUNTY, TOWNSHIP AND POLITICAL SUBDIVISION GOVERNMENT

  Chapter 70back to chapter 70

  70.676.  Vested employee no longer covered by system may be bought out by lump sum payment, how computed — limitations. — In accordance with rules adopted by the board, a former member who is entitled to a deferred allowance pursuant to section 70.675 may elect for the system to pay the reserve value of the deferred allowance if the amount of the former member's credited service is less than ten years and if the former member is not within ten years of his or her minimum service retirement age at the time of payment of the reserve value.  The reserve value shall be the actuarial equivalent of the allowance otherwise payable.  Any lump sum payment so made shall be a complete discharge of all liability under the system with respect to such allowance.

­­--------

(L. 1986 S.B. 420, A.L. 1998 H.B. 1033)


< end of effective 28 Aug 1998 >

use this link to bookmark section 70.676


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

Site changes Contact
Other Links
Oversight Library MO WebMasters
Senate
Missouri Senate
State of Missouri
MO.gov
House
Missouri House
 Errors / suggestions - WebMaster@LR.mo.gov 
Marie Elizabeth Oliver
History and Fun Facts
 ©Missouri Legislature, all rights reserved.
google bing

 4