Missouri Laws 104.1042 – Long-term disability, effect on retiree’s annuity
1. Any member pursuant to the year 2000 plan created by sections 104.1003 to 104.1093 and who becomes disabled and qualifies for long-term disability benefits and retires after August 28, 1999, or who becomes disabled and qualifies for long-term disability benefits under a program provided by the member’s employing department and retires after August 28, 1999, shall continue to accrue credited service and such member’s rate of pay for purposes of calculating an annuity pursuant to the year 2000 plan created by sections 104.1003 to 104.1093 shall be the member’s regular monthly pay received at the time of disablement, increased thereafter for any increases in the consumer price index. Such increases in the member’s monthly pay shall be made annually beginning twelve months after disablement and shall be equal to eighty percent of the increase in the consumer price index during the calendar year prior to the adjustment, but not more than five percent of the member’s monthly pay immediately before the increase. Such accruals shall continue until the earliest of receipt of an early retirement annuity, attainment of normal retirement eligibility, or termination of disability benefits.
2. A member described in subsection 1 of this section who continues to be disabled until normal retirement eligibility may elect an annuity starting date upon termination of disability payments and shall receive a normal retirement annuity provided for in section 104.1024.
Terms Used In Missouri Laws 104.1042
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- Annuity: annual payments, made in equal monthly installments, to a retired member from funds provided for in, or authorized by, this chapter. See Missouri Laws 104.010
- Annuity starting date: the first day of the first month with respect to which an amount is paid as an annuity under sections 104. See Missouri Laws 104.010
- Consumer price index: the Consumer Price Index for All Urban Consumers for the United States, or its successor index, as approved by a board, as such index is defined and officially reported by the United States Department of Labor, or its successor agency. See Missouri Laws 104.010
- Department: any department or agency of the executive, legislative or judicial branch of the state of Missouri receiving state appropriations, including allocated funds from the federal government but not including any body corporate or politic unless its employees are eligible for retirement coverage from a system pursuant to this chapter as otherwise provided by law. See Missouri Laws 104.010
- Disability benefits: benefits paid to any employee while totally disabled as provided in this chapter. See Missouri Laws 104.010
- employee: shall include :
a. See Missouri Laws 104.010
- Member: as used in sections 104. See Missouri Laws 104.010
3. If the member’s disability terminates, disability accruals described in subsection 1 of this section shall terminate.
4. Upon termination of disability payments and not returning to a position in which the member is an employee, the member’s rights to plan benefits shall be determined as if the member had terminated employment at time of termination of disability payments.
5. Any member who was disabled under the closed plan prior to July 1, 2000, and who returns to a position in which the member is an employee after July 1, 2000, shall be covered under the closed plan and shall be eligible to elect coverage under the new plan as provided by subsection 5 of section 104.1015.