Missouri Laws 104.422 – Accumulated contribution as death benefit of member or former member
Current as of: 2024 | Check for updates
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Terms Used In Missouri Laws 104.422
- Accumulated contributions: the sum of all deductions for retirement benefit purposes from a member's compensation which shall be credited to the member's individual account and interest allowed thereon. See Missouri Laws 104.010
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Beneficiary: any persons or entities entitled to or nominated by a member or retiree who may be legally entitled to receive benefits pursuant to this chapter. See Missouri Laws 104.010
- Fund: the benefit fund of a system established pursuant to this chapter. See Missouri Laws 104.010
- Member: as used in sections 104. See Missouri Laws 104.010
Upon the death of any member, or former member who has not been refunded his or her accumulated contributions to the fund or received an annuity or benefit, the board shall as soon as practical pay to the beneficiary as the member or former member may have designated in writing, or to his or her estate if no beneficiary be designated, a death benefit equal to the amount of the member’s or former member’s accumulated contributions.