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Title VII CITIES, TOWNS AND VILLAGES

Chapter 86

Effective - 28 Aug 2006 bottom

  86.359.  Retroactive payments to be lump sum with interest, rate. — If a retroactive payment is made to a member, surviving spouse, dependent child, or other beneficiary under sections 86.200 to 86.366 for any reason, a lump sum equal to the sum of the retroactive monthly payments, plus interest, shall be paid.  For this purpose, interest shall be credited at the rate of six percent annum, compounded annually.

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(L. 2006 S.B. 871)


---- end of effective   28 Aug 2006 ----

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