169.021. Transfer of teachers from urban district to state retirement system--procedure.
Transfer of teachers from urban district to state retirementsystem--procedure.
169.021. 1. Whenever two-thirds of the teachers of a schooldistrict having a population of more than seventy-five thousandand which has, pursuant to law, a local retirement system, shallfile a petition with the board of trustees of the localretirement system and with the local board of education of suchschool district requesting that their membership in the localretirement system be transferred to the public school retirementsystem of Missouri, said petition if and when approved by theboard of trustees of the local retirement system and the board ofeducation of the local school district shall be transmitted tothe board of trustees of the state retirement system. Thereuponat such time as all the terms and conditions of this section asapply to teachers, as hereinafter set forth, are fulfilled theboard of trustees of the state retirement system shall in mutualagreement with the board of trustees of the local retirementsystem and the local board of education set a date which shall benot later than one year after the filing of the petition with thestate system, upon which the local system shall be declareddiscontinued as to such teachers and all persons who are or maybecome teachers, as hereinbefore defined, in such local districtshall be members of the state retirement system.
2. Prior to the date when the local system is discontinuedas to teachers under the provision of this section, the board oftrustees of the local retirement system shall transfer to theboard of trustees of the public school retirement system ofMissouri such moneys, bonds and evidences of indebtedness asrepresent the accumulated contributions of each teacher member ofthe local retirement system, but not in excess of the amount ofthe accumulated contributions of a teacher already a member ofthe state system with the same period of membership service andsame annual salaries during such period, along with an equalamount representing contributions by the local board of educationon account of such teachers; and these funds are to be creditedby the board of trustees as have other contributions received bythe public school retirement system of Missouri. If theaccumulated contributions of any teacher member in the localretirement system are in excess of these requirements, suchexcess shall be refunded to the teacher by the local system.
3. There shall be further transferred to the stateretirement system by the board of trustees of such localretirement system, if available from its funds, and if not by theboard of education of the local school district from schooldistrict funds, an amount of money sufficient to place thoseteachers who so elect, on an equality of benefits with thoseoriginally becoming members of such state system, providing thatany contributions from teachers transferred from such localretirement system due the state retirement system to equalizecontributions previously made by teachers already members of thestate system shall be paid to the board of trustees of the statesystem by the local school district and charged to such teacher'ssalary account and withheld by the local district in equalmonthly installments during the succeeding school year. A likeamount shall be transferred to the board of trustees of the statesystem by the board of trustees of such local retirement system,if available from its funds, and if not by the board of educationof the local school district from school district funds. If thefull amount as required by this subsection for any member is notpaid to the board of trustees of the state system, such membershall receive no credit for prior service and shall receivecredit only for such membership service as the amount paid in hisbehalf will provide.
4. All teachers who have been placed on retirement pursuantto the provisions of the law creating the local system previousto the date when the local system is discontinued as to teachersunder the provisions of this section shall be entitled to receivefrom the state system after the discontinuance of the localsystem the same monthly benefits they were receiving from thelocal system; provided that prior to the date of discontinuanceof the local system, the board of trustees of the local systemshall pay to the extent of its available funds, and if such fundsare insufficient, the board of education of the local districtshall pay from school district funds to the board of trustees ofthe state system the amount necessary to maintain such monthlypayments to retired teachers plus such amount as required to paythe benefits provided by the state system to all teachers of thelocal system who have attained age sixty-nine as of date ofdiscontinuance but have not then retired, such amounts to beagreed to by the board of trustees of the two retirement systemsand the board of education of the local school district;provided, however, that in school districts having a populationof not less than two hundred thousand inhabitants, in lieu of theamount required to be paid because of the teachers of the localsystem who have attained age sixty-nine but have not retired anadditional payment shall be made of the amount necessary toprevent an increase in the required contribution rate as providedfor in section 169.030 as determined by the actuary of the publicschool retirement system of Missouri and as agreed to by theboard of trustees of the two retirement systems and the board ofeducation of the local school district.
5. Any amount to be paid the board of trustees of the statesystem by the board of education of the local school district infulfillment of the conditions of this section may be paid in alump sum or in installments within ten years from date ofdiscontinuance of the local system with interest payable annuallyon the unpaid balance at the rate of two percent; provided,however, that in school districts having a population of not lessthan two hundred thousand, the period within which payment ininstallments may be made may be increased from ten to twenty-fiveyears; provided, further, that in districts having a populationof not less than two hundred thousand inhabitants the rate to bepaid on unpaid balance shall be the average rate which theinvestments of the state system earn during the same year.
6. All employees in such school district having a populationof more than seventy-five thousand and less than one hundredthousand, other than teachers and who are not on retirement,shall, upon two-thirds vote, withdraw therefrom and shall receivefrom the local retirement system the amount credited to theirrespective accounts, and equal amounts from funds contributed bythe local school district; and each employee, other than ateacher, who is on retirement pursuant to provisions of the lawcreating the local retirement system, shall receive in lieu ofall his rights and interest in such local retirement system anamount of money mutually agreed to by the local board ofeducation and the annuitant. The effective date of dissolutionof the local system under this subsection shall be fixed by thelocal board of education and the local retirement system.
7. All employees in school districts having a population ofnot less than two hundred thousand inhabitants other thancertificated teachers and who are not on retirement shallcontinue to be members of the existing local retirement systemsubject to the right of withdrawal therefrom at any time,regardless of whether or not he continues to be an employee, withright to be paid on demand the amount of his accumulatedcontributions with interest standing to the credit of hisindividual account in the employees' contribution fund butwithout any right to again become a member of the system; andeach employee of such school district other than certificatedteachers who is on retirement pursuant to provisions of the lawunder which the local retirement system exists shall continue tobe entitled to receive his retirement benefits in accordance withthe terms and provisions of said system, and such localretirement system shall continue in force and effect with respectto such employees who are not certificated teachers until suchtime as all shall have withdrawn and all obligations to suchretirants shall have been discharged or released; provided thatany employee other than certificated teachers becoming such anemployee after the effective date of the transfer of thecertificated teachers to the state retirement system shall havethe option of refraining from becoming a member of the localsystem; provided further if in any case where a certificatedteacher, now a member of the local retirement system, istransferred to the state system his actual or potentialretirement benefits would be less than the amounts he would havereceived from the local system if he had continued therein, thelocal retirement system or board of education shall make up thedifference.
(L. 1951 p. 520, A.L. 1953 p. 467)