Missouri Code of State Regulations › Title 16 - RETIREMENT SYSTEMS › Division 10 - The Public School Retirement System of Missouri › Chapter 6 - The Public Education Employee Retirement System of Missouri › Section 16 CSR 10-6.065 - Recognition of Credit

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This rule implements the provisions of
				  section
				  169.569,
				  RSMo, allowing credit from each system named in section
				  169.569,
				  RSMo, to be combined for the purpose of determining eligibility for retirement
				  from each system.
(1) The
				provisions of this rule are to be used solely for the purpose of implementing
				section
				169.569,
				RSMo, (hereinafter, all chapter and section citations are to the
Revised Statutes of Missouri
unless otherwise
				indicated).
(2) "System" or
				"systems" shall mean one (1) or more of the retirement systems created by
				Chapter 169 and named in section 169.569.1.
(3) The provisions of section
				169.569
				and this rule shall apply only to individuals with an effective retirement date
				after June 30, 2003.
(4) An
				individual may combine service credit from each of the systems with which the
				individual has at least five (5) years of creditable service to determine
				eligibility for normal or early retirement with each of the respective systems.
				Service credit from a system with which the individual has less than five (5)
				years of service may not be combined with any other service credit under this
				rule. Service credit may not be combined for any other purpose. Only service
				credit that is certified by the relevant system may be combined pursuant to
				this rule. An individual may not combine credit with other credit that is based
				on the same period of employment.
(5) Prior to receiving a retirement benefit
				from a system, an individual must comply with all of that system's requirements
				related thereto. An individual is not required to terminate employment with
				employers covered by systems from which the individual is not yet receiving a
				retirement benefit.
(6) Each system
				will use its own retirement application. All systems will use a uniform
				Reciprocity Election form.
(7) Each
				system from which the individual is eligible to retire after combining service
				credit pursuant to this rule shall pay its own retirement benefit and shall
				determine the benefit it is to pay to the individual based only on the service
				credit the individual has with that system. Each system paying a retirement
				benefit shall calculate its own final average salary based upon an individual's
				salaries on record with that retirement system. Each system paying a retirement
				benefit shall determine the retirement benefit based on its own applicable
				statutory provisions.
(8) An
				individual shall be subject to the working after retirement limitations for
				each system from which he or she is receiving a retirement benefit. The benefit
				paid by a system shall be discontinued only if the individual exceeds the
				working after retirement limitations, if any, of that system due to employment
				with an employer covered by that system. In the event of a discontinuance of
				benefits from one (1) system, the individual may continue to receive a
				retirement benefit from any system for which he or she has not exceeded that
				system's working after retirement limitations.
(9) Service credit may be combined pursuant
				to this rule only for the purpose of service retirement eligibility and shall
				not be combined to determine eligibility for any other benefit payable by any
				system, including, but not limited to disability, surviving spouse and/or
				children benefits or minimum benefits.
(10) Notwithstanding the provisions of
				section (9), if, at the time of death, an individual could have elected to
				retire by combining credit under this rule, the beneficiary of such member may
				combine credit under this rule to qualify for benefits pursuant to sections
				169.070.3(2)(a),
				169.326.3,
				169.460.14, or 169.670.4(2)(a).
*Original authority: 169.610, RSMo 1965, amended 1977 and
					 169.569, RSMo 2001.