Missouri Revised Statutes
Chapter 169 - Teacher and School Employee Retirement Systems
Section 169.466 - Annual pension increase, when.

Effective - 28 Aug 2007
169.466. Annual pension increase, when. — 1. Any retired member with fifteen or more years of creditable service at retirement receiving retirement benefits on August 28, 1997, shall receive on January first of each year, commencing on January 1, 1998, an increase in the amount of benefits received by the retired member pursuant to sections 169.410 to 169.540 during the preceding year of one hundred percent of the increase in the consumer price index calculated in the manner provided in this section; except that, no such increase in retirement benefits shall be paid for any year if such increase in the consumer price index is less than one percent. Such annual retirement benefit increase, however, shall not exceed three percent. A retired member qualified to receive an annual retirement benefit increase pursuant to this section shall not be eligible to receive an additional benefit until the January first after the first anniversary of the date on which he or she commenced receiving retirement benefits pursuant to sections 169.410 to 169.540. Benefits shall not be decreased in the case of a decrease in the consumer price index for any year.
2. For the purpose of this section, any increase in the consumer price index shall be determined by the board of trustees in November of each year based on the consumer price index for the twelve-month period ended on September thirtieth of such year over the consumer price index for the twelve-month period ended on September thirtieth of the year immediately prior thereto. Any increase so determined shall be applied by the board of trustees in calculating increases in retirement benefits that become payable pursuant to this section for the twelve-month period beginning on the January first immediately following such determination.
3. An annual increase in retirement benefits, if any, shall be payable monthly with monthly installments of other retirement benefits pursuant to sections 169.410 to 169.540.
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(L. 1996 S.B. 860, A.L. 1997 H.B. 612 merged with S.B. 309, A.L. 2001 H.B. 660, A.L. 2007 S.B. 406)

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Structure Missouri Revised Statutes

Missouri Revised Statutes

Title XI - Education and Libraries

Chapter 169 - Teacher and School Employee Retirement Systems

Section 169.010 - Definitions.

Section 169.020 - System created, what districts included — trustees, appointment, terms, qualifications, election, duties — venue — audit, when — interest.

Section 169.021 - Transfer of teachers from urban district to state retirement system — procedure.

Section 169.022 - Board of education in sections 169.020 and 169.021 defined.

Section 169.030 - Contributions by members and employees, exceptions — rate — withholding required — board to fix rate, conditions.

Section 169.033 - Contributions by members may be required to be credited to members' accounts by employer, board may adopt plan.

Section 169.035 - Additional deposits by members, when.

Section 169.040 - Funds of retirement system, how invested — delegation of investment authority — investments, manner of making, form — designated depository — electronic funds transfer required — closed meetings authorized, when.

Section 169.045 - Bank deposits of system, how secured.

Section 169.050 - Membership — prior service credit, withdrawal — reinstatement contributions.

Section 169.055 - Purchase of equivalent service, leave of absence — part-time teachers may receive creditable service, when.

Section 169.056 - Private school, defined — membership credit for service in private school, purchase, payment, requirements.

Section 169.060 - Retirement and disability.

Section 169.070 - Retirement allowances, how computed, election allowed, time period — options — effect of federal O.A.S.I. coverage — cost-of-living adjustment authorized — limitation of benefits — employment of special consultant, compensation, min...

Section 169.073 - Partial lump sum distribution, when — options — calculation for changes in distribution amount — death, effect of.

Section 169.075 - Survivors' benefits, options — purchase of prior service credits for previous service in another Missouri public school retirement system, cost — monthly retirement allowance — special consultant qualification, compensation, duties...

Section 169.076 - Death without a valid designated beneficiary, effect of — most recent valid designation of beneficiary revokes previous designations.

Section 169.080 - Correction of errors in benefits — adjustment.

Section 169.090 - Funds not subject to execution, garnishment, attachment.

Section 169.100 - Gifts accepted.

Section 169.110 - Appropriations made by general assembly to be repaid in two-year period.

Section 169.130 - Teachers at state institutions prior to August 13, 1986, to be members — teachers employed by teachers' association to be members — contributions.

Section 169.140 - Community college, public, full-time employee may be member of retirement system, exception.

Section 169.141 - Successor beneficiary may be nominated by person receiving reduced allowance, when, procedure — allowance increase, when.

Section 169.270 - Definitions.

Section 169.280 - Retirement system created — system, how managed — federal qualified plan, intent as, administration of plan, effect on.

Section 169.291 - Board of trustees, qualifications, terms — superintendent of school district to be member — vacancies — lapse of corporate organization, effect of — oaths — officers — expenses — powers and duties — medical board, appointment — actu...

Section 169.295 - Board of trustees, powers and duties.

Section 169.296 - Indemnity and protection of trustee or employee, limitations — insurance — notice required, when.

Section 169.301 - Retirement benefits to vest, when — amount, how computed — option of certain members to transfer plans, requirements — retirant becoming active member, effect on benefits — termination of system, effect of — military service, effect...

Section 169.311 - One year creditable service, how computed.

Section 169.315 - Rules, regulations to permit purchase of creditable service, requirements — eligibility.

Section 169.320 - Member may retire, when.

Section 169.322 - Retirement for disability — periodic examination — subsequent reemployment and retirement.

Section 169.324 - Retirement allowances, amounts — retirants may substitute without affecting allowance, limitation — annual determination of ability to provide benefits, standards — action plan for use of minority and women money managers, brokers a...

Section 169.326 - Optional plans for payment of benefits — limitations — waiver.

Section 169.328 - Accumulated contributions returned to member, when — eligible rollover distributions, election for distribution.

Section 169.331 - Retired teachers may teach full time without loss of benefits, when — school district requirements.

Section 169.350 - Assets held in two funds — source and disbursement — deductions — contributions, employer may elect to pay part or all of employee's contribution, procedure — rate of contributions to be calculated.

Section 169.360 - Trustees shall report annually to employers district's contribution, certification — transfer of funds.

Section 169.370 - Obligations chargeable to general revenue fund — alteration of existing rights prohibited.

Section 169.380 - Immunity from execution, garnishment or attachment.

Section 169.390 - Limitation of state contributions.

Section 169.395 - Procedural requirements waived for members, retirants and beneficiaries, by board of trustees, when.

Section 169.400 - Correction of errors in benefits — adjustment.

Section 169.410 - Definitions.

Section 169.420 - Retirement system — how managed.

Section 169.430 - Who shall be members.

Section 169.435 - Revocation of election of coverage made on or ninety days after October 13, 1961, procedure, effect on creditable service.

Section 169.440 - Years of service, how determined — purchase of credit for service, limitations and conditions.

Section 169.450 - Trustees — selection, qualifications, powers and duties — circuit court's jurisdiction over board — board's authority to make rules for administering assets of system.

Section 169.460 - Retirement, when — pensions, how computed — early retirement, when, pensions, how computed — disability retirement, when, pensions, how computed — death before retirement, effect of — beneficiary defined, benefits, how computed — re...

Section 169.466 - Annual pension increase, when.

Section 169.471 - Board of education authorized to increase retirement benefits, adopt and implement additional plans.

Section 169.475 - Retired member, employment as special advisor, duties, compensation — district to reimburse system, when.

Section 169.476 - Insurance for retired members may be provided — rules and regulations.

Section 169.480 - Board to be trustees of funds — investment — income credited — payments, how made — current funds kept — duties of trustees.

Section 169.490 - Assets of system to be held as one fund — contribution, rate, how collected — employer's contribution rate to be calculated annually.

Section 169.500 - Certification of amount to be paid to retirement system, inclusion in annual budget estimates.

Section 169.510 - Obligations of system paid how — effect of change in law.

Section 169.520 - Funds not subject to execution, garnishment or attachment and not assignable — exceptions.

Section 169.530 - False statement, misdemeanor — correction of records — adjustment.

Section 169.540 - State shall contribute no funds — exceptions.

Section 169.560 - Retirees may be employed, when — salary amount, effect on benefits, exception.

Section 169.561 - Retirees return to work considered new membership in applicable retirement system — vesting period, contributions, service credit — termination, withdrawal of contributions, when.

Section 169.563 - Retirement in certain systems at fifty-five or older with five years service, procedure, computation of benefits.

Section 169.566 - School retirement systems to conduct study.

Section 169.569 - Joint rules promulgated, procedure.

Section 169.570 - Employment of person having rights in more than one retirement system, may purchase membership credit — purchase of equivalent credit, when, requirements.

Section 169.572 - Dissolution of marriage, court not to divide retirement benefits or Social Security benefits.

Section 169.573 - Plan for utilization of minority professionals, report.

Section 169.574 - Members may designate trust as beneficiary.

Section 169.576 - Authorizes board to provide for reciprocal creditable service transfers with other states.

Section 169.577 - Purchase of additional creditable service to achieve minimum time required for allowance — request, form, purchase, requirements, term.

Section 169.585 - Certain retired teachers to be employed by retirement system as special school advisors and supervisors, when — actuarially unsound, effect of.

Section 169.587 - Benefits exempted from taxation and creditors — benefits not assignable.

Section 169.589 - Discharge from Armed Forces, defined — members may elect to pay contribution to system for service time — reemployment by school district, contribution by district to be paid, when.

Section 169.590 - Health plans for school district employees to include retirees, families of retirees and survivors.

Section 169.595 - Sick leave or under workers' compensation, employee may receive creditable service for leave time, requirements.

Section 169.596 - Retired teacher may teach full time without loss of retirement benefits, when — school district requirements.

Section 169.597 - Hancock amendment standing — certain statutes void, when.

Section 169.600 - Definitions.

Section 169.610 - System established — board of trustees to administer — funds to be kept separate.

Section 169.611 - Community college district retirement system may merge with public education employees' retirement system.

Section 169.620 - Contributions by members and employers — rate — penalty for failure to remit — benefits to be reduced, when — purchase of service credit, certain members, how.

Section 169.625 - Board of trustees may adopt plan requiring all contributions by employee to be paid directly to retirement system.

Section 169.630 - Funds of system, how invested, how accounted for — bank or trust company to serve as depository and intermediary in investment of funds — title to securities, form — electronic funds transfer — closed meetings authorized, when.

Section 169.640 - Bank deposits of system, how secured.

Section 169.650 - Membership — prior service credit — reinstatement — procedure.

Section 169.655 - Purchase of membership credit for service to organization supporting education or research — limitations, requirements — transfer of funds.

Section 169.660 - Eligibility for retirement, when — temporary-substitute service for retiree authorized, limitation, no contribution from retiree required.

Section 169.663 - Disability retirement, when — return to duty, effect of disability payments — disability defined.

Section 169.670 - Benefits, how computed — beneficiary benefits, options, election of.

Section 169.673 - Partial lump sum distribution, when — changes in distribution amount, formula — death, effect of.

Section 169.676 - Death without a valid beneficiary designation, effect of — most recent valid designation of beneficiary revokes previous designations.

Section 169.680 - Penalty for false statements — correction of errors in benefits — adjustment.

Section 169.690 - Funds not subject to execution, garnishment, attachment.

Section 169.700 - Gifts accepted.

Section 169.712 - Transfer to public school retirement system, certain public education employees, procedure.

Section 169.715 - Successor beneficiary may be nominated by person receiving reduced allowance, when, procedure — increase permitted, when.

Section 169.750 - Indemnification permitted, when — insurance or indemnity policies authorized.