Missouri Code of State Regulations › Title 16 - RETIREMENT SYSTEMS › Division 50 - The County Employees' Retirement Fund › Chapter 2 - Membership and Benefits › Section 16 CSR 50-2.110 - Rehires

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This rule clarifies the treatment of a
				  former employee who returns to covered employment.
(1) Suspension of Benefits. If a
				Participantst returns to employment after a separation from service, benefit
				payments to the individual will be suspended, pending the termination of
				employment and completion of a new retirement application. After any such
				suspension of benefits and subsequent termination of employment, the
				Participantst will resume benefits under the payment option originally selected
				with respect to those benefits. If the individual has started a buyback of
				prior service during the first benefit payment period, the total paid toward
				the buy-back will be subtracted from the new buy-back figure. Benefits with
				respect to the prior service period less any remaining buyback will recommence
				upon termination of employment. The buyback will extend for a maximum of
				forty-eight (48) months less the total number of months during which the
				individual had already made a buyback. While subsequently employed after a
				separation from service, the individual will accrue creditable service, which,
				upon termination of employment and submission of a new retirement application
				in accordance with the plan rules, will be used to calculate a benefit with
				respect to that period of service in accordance with the provisions of this
				chapter. For such subsequent period of service, benefits will also be
				calculated using the average final compensation with respect to that period of
				service. The benefits payable with respect to any employment period after a
				rehire shall be added to the benefits payable in accordance with a previous
				service period, provided that, in no event shall the Participantst's total
				creditable service when added together for all service periods exceed
				twenty-nine (29) years (or, to the extent so limited for the purpose of the
				applicable formula, twenty-five (25) years) for purposes of
				16 CSR
				50-2.090, and benefits shall be determined on the
				basis that a Participantst forever ceases accruing creditable service for this
				purpose in the service period in which such Participantst first attains
				twenty-nine (29) years of creditable service. The new retirement application
				with respect to employment after a rehire shall specify the form of benefit and
				beneficiary with respect to any benefits payable in connection with such period
				of service, and the form and beneficiary may, but are not required to, differ
				from those elected with respect to benefits relating to a prior service period.
				Notwithstanding anything in the plan to the contrary, if a Participantst was
				receiving benefits in the form of the level income option and has such benefit
				payments suspended upon returning to employment before attaining age sixty-two
				(62) in accordance with this section, the remaining payments under the form
				shall resume at termination of employment in the monthly amount determined in
				accordance with
				16 CSR 50-2.035(1)(E) or
				(F) as though the Participantst were the age
				he or she had attained upon his/her return to employment.
(2) Rejoining the Plan. Notwithstanding the
				provisions of section (1), a Participantst may work as a part-time or seasonal
				employee and continue to receive benefit payments. Such service as a part-time
				or seasonal employee shall not increase or change the Participantst's benefit,
				unless the Participantst has an entry date, and again becomes an active
				Participantst in the plan. In such case, a Participantst shall not receive
				creditable service for any period of employment preceding his or her entry date
				unless i) the Participantst purchases such service in accordance with section
				16 CSR
				50-3.010(3) or ii) such creditable
				service was used in calculating the Participantst's accrued benefit as of the
				date of his or her separation from service.
(3) Nonvested Participantsts. A Participantst
				who has a separation from service with less than eight (8) years of creditable
				service forfeits creditable service at the time of his or her separation from
				service. Accordingly, if such an individual is rehired as an employee, that
				individual is treated as a new employee for all purposes under the plan.
				However, such a rehired individual may be able to repurchase his or her
				forfeited creditable service under section
				16 CSR
				50-3.010(3).
*Original authority: 50.1032, RSMo
					 1995.