Mo. Code Regs. tit. 16 § 10-5.050
Current through Register Vol. 49, No.12, June 17, 2024
Section 16 CSR 10-5.050 - Additional Benefits for Retirees, Beneficiaries and Members on DisabilityPURPOSE: This rule provides for increased payments to teachers who retired before September 1, 1972, and eligible beneficiaries as set forth in subdivision 169.070.11., RSMo.
(1) For all of those who retired prior to September 1, 1972, and had not qualified for a second retirement allowance prior to that date by serving another five (5) years or more, the current monthly allowance shall be increased by two percent (2%) for each year or major portion of a year from the original date of retirement till June 30, 1975.(2) For those who retired and subsequently returned to teaching five (5) or more years and qualified for an additional benefit prior to September 1, 1972, the increase shall be computed separately for each retirement allowance for each year or major portion of a year till June 30, 1975, from the date of each retirement, and the total increase shall be the sum of the increase for each calculation.(3) Since disability allowances are retirement allowances by the law, and since Options 1 and 2 are also extensions of one's retirement allowance by reduction of one's allowance to provide for an eligible beneficiary, we compute the increase for each of these where the member retired prior to September 1, 1972, for each year or major portion of a year from the effective date of the member's retirement till June 30, 1975. For those beneficiaries of deceased members who died before retirement and prior to September 1, 1972, the increase will be computed from the effective date of the benefit through June 30, 1975. AUTHORITY: section 169.020, RSMo 1994.* Original rule filed Dec. 19, 1975, effective Jan. 1, 1976. *Original authority: 169.020, RSMo 1945, amended 1951, 1953, 1967, 1973, 1983, 1990.