16 CSR 10-6.060 Service Retirement

Title 16—RETIREMENT SYSTEMS

Division 10—The Public School Retirement System of Missouri

Chapter 6—The Public Education

Employee Retirement System of Missouri

PROPOSED AMENDMENT

16 CSR 10-6.060 Service Retirement.  The Public School Retirement System proposes to amend sections (1) and (15).

PURPOSE: This amendment clarifies procedures for completing an application to claim service retirement benefits and revises the restrictions on employment as provided in section 169.596, RSMo, by expanding the amount of time Public School Education Employee Retirement System retirees are allowed to work full-time if there is a critical shortage of noncertificated employees in a school district.

(1) The earliest date on which retirement may become effective is the first day of the calendar month following the calendar month in which the services of the member are terminated, or the first day of the calendar month following the filing of the application for retirement, whichever is later; except that the earliest date on which retirement may become effective for a member who receives a year of membership service credit for the final school year in which the member serves shall be July 1 next following the member’s last day of service.  The member must complete any changes to the application by the close of business on the day the member’s first monthly benefit is paid by the Public Education Employee Retirement System of Missouri.  Termination from employment covered by the retirement system prior to the effective date of retirement is required to be eligible for a retirement benefit. A member shall not be deemed to have terminated employment if the member is employed in any capacity by an employer covered by the retirement system within one (1) month after his or her effective date of retirement. Effective July 1, 2016, a member shall not be deemed to have terminated employment if, prior to receipt of his or her first benefit payment, the member reaches an agreement, whether written or unwritten, for future employment in any capacity by an employer covered by the retirement system. The member shall be required to repay any benefit payments paid if it is determined that the member did not terminate employment covered by the retirement system.

(15) Pursuant to section 169.596, RSMo, a person receiving a retirement benefit from the Public Education Employee Retirement System of Missouri (PEERS) may be employed up to full-time for no more than [twenty-four (24)] forty-eight (48) months for a PEERS-covered school district without a suspension of his or her retirement benefit provided that such school district certifies that it has met the requirements set forth in section 169.596, RSMo, and provided that such school district does not exceed the limit on the number of PEERS retirees that may be hired pursuant to section 169.596, RSMo.

AUTHORITY: section 169.610, RSMo 2016.* Original rule filed Dec. 19, 1975, effective Jan. 1, 1976. For intervening history, please consult the Code of State Regulations. Amended:  Filed February 1, 2024.

*Original authority: 169.610, RSMo 1965, amended 1977, 2005.

**Pursuant to Executive Order 21-09, 16 CSR 10-6.060, section (4) was suspended from August 7, 2020 through December 31, 2021.

 PUBLIC COST: This proposed amendment will not cost state agencies or political subdivisions more than five hundred dollars ($500) in the aggregate.

PRIVATE COST: This proposed amendment will not cost private entities more than five hundred dollars ($500) in the aggregate.