Missouri 2025 Regular Session

Missouri Senate Bill SB474 Compare Versions

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Old	New	Differences
1	1
2	2	FIRST REGULAR SESSION
3	3	SENATE BILL NO. 474
4	4	103RD GENERAL ASSEMBLY
5	5	INTRODUCED BY SENATOR NURRENBERN.
6	6	0379S.01I KRISTINA MARTIN, Secretary
7	7	AN ACT
8	8	To repeal section 169.070, RSMo, and to enact in lieu thereof one new section relating to public
9	9	school retirement systems.
10	10
11	11	Be it enacted by the General Assembly of the State of Missouri, as follows:
12	12	Section A. Section 169.070, RSMo, is repealed and one new 1
13	13	section enacted in lieu thereof, to be known as section 169.070, 2
14	14	to read as follows:3
15	15	169.070. 1. The retirement allowance of a member 1
16	16	whose age at retirement is sixty years or more and whose 2
17	17	creditable service is five years o r more, or whose sum of 3
18	18	age and creditable service equals eighty years or more, or 4
19	19	who has attained age fifty -five and whose creditable service 5
20	20	is twenty-five years or more or whose creditable service is 6
21	21	thirty years or more regardless of age, may be t he sum of 7
22	22	the following items, not to exceed one hundred percent of 8
23	23	the member's final average salary: 9
24	24	(1) Two and five-tenths percent of the member's final 10
25	25	average salary for each year of membership service; 11
26	26	(2) Six-tenths of the amount pay able for a year of 12
27	27	membership service for each year of prior service not 13
28	28	exceeding thirty years. 14
29	29	In lieu of the retirement allowance otherwise provided in 15
30	30	subdivisions (1) and (2) of this subsection, a member may 16
31	31	elect to receive a retirement allowance of: 17 SB 474 2
32	32	(3) Two and four-tenths percent of the member's final 18
33	33	average salary for each year of membership service, if the 19
34	34	member's creditable service is twenty -nine years or more but 20
35	35	less than thirty years, and the member has not attained age 21
36	36	fifty-five; 22
37	37	(4) Two and thirty-five-hundredths percent of the 23
38	38	member's final average salary for each year of membership 24
39	39	service, if the member's creditable service is twenty -eight 25
40	40	years or more but less than twenty -nine years, and the 26
41	41	member has not attained age fifty-five; 27
42	42	(5) Two and three-tenths percent of the member's final 28
43	43	average salary for each year of membership service, if the 29
44	44	member's creditable service is twenty -seven years or more 30
45	45	but less than twenty -eight years, and the member has not 31
46	46	attained age fifty-five; 32
47	47	(6) Two and twenty-five-hundredths percent of the 33
48	48	member's final average salary for each year of membership 34
49	49	service, if the member's creditable service is twenty -six 35
50	50	years or more but less than twenty -seven years, and the 36
51	51	member has not attained age fifty -five; 37
52	52	(7) Two and two-tenths percent of the member's final 38
53	53	average salary for each year of membership service, if the 39
54	54	member's creditable service is twenty -five years or more but 40
55	55	less than twenty-six years, and the member has not attained 41
56	56	age fifty-five; 42
57	57	(8) Two and fifty-five hundredths percent of the 43
58	58	member's final average salary for each year of membership 44
59	59	service, if the member's creditable service is thirty -two 45
60	60	years or more regardless of age ; 46
61	61	(9) Two and six-tenths percent of the member's final 47
62	62	average salary for each year of membership service, if the 48 SB 474 3
63	63	member's creditable service is thirty -three years or more 49
64	64	regardless of age. 50
65	65	2. In lieu of the retirement allowance provided in 51
66	66	subsection 1 of this section, a member whose age is sixty 52
67	67	years or more on September 28, 1975, may elect to have the 53
68	68	member's retirement allowance calculated as a sum of the 54
69	69	following items: 55
70	70	(1) Sixty cents plus one and five -tenths percent of 56
71	71	the member's final average salary for each year of 57
72	72	membership service; 58
73	73	(2) Six-tenths of the amount payable for a year of 59
74	74	membership service for each year of prior service not 60
75	75	exceeding thirty years; 61
76	76	(3) Three-fourths of one percent of the sum of 62
77	77	subdivisions (1) and (2) of this subsection for each month 63
78	78	of attained age in excess of sixty years but not in excess 64
79	79	of age sixty-five. 65
80	80	3. (1) In lieu of the retirement allowance provided 66
81	81	either in subsection 1 or 2 of this section, collecti vely 67
82	82	called "option 1", a member whose creditable service is 68
83	83	twenty-five years or more or who has attained the age of 69
84	84	fifty-five with five or more years of creditable service may 70
85	85	elect in the member's application for retirement to receive 71
86	86	the actuarial equivalent of the member's retirement 72
87	87	allowance in reduced monthly payments for life during 73
88	88	retirement with the provision that: 74
89	89	Option 2. 75
90	90	Upon the member's death the reduced retirement 76
91	91	allowance shall be continued throughout the life of and paid 77
92	92	to such person as has an insurable interest in the life of 78
93	93	the member as the member shall have nominated in the 79
94	94	member's election of the option, and provided further that 80 SB 474 4
95	95	if the person so nominated dies before the retired member, 81
96	96	the retirement allowa nce will be increased to the amount the 82
97	97	retired member would be receiving had the retired member 83
98	98	elected option 1; or 84
99	99	Option 3. 85
100	100	Upon the death of the member three -fourths of the 86
101	101	reduced retirement allowance shall be continued throughout 87
102	102	the life of and paid to such person as has an insurable 88
103	103	interest in the life of the member and as the member shall 89
104	104	have nominated in an election of the option, and provided 90
105	105	further that if the person so nominated dies before the 91
106	106	retired member, the retirement al lowance will be increased 92
107	107	to the amount the retired member would be receiving had the 93
108	108	member elected option 1; or 94
109	109	Option 4. 95
110	110	Upon the death of the member one -half of the reduced 96
111	111	retirement allowance shall be continued throughout the life 97
112	112	of, and paid to, such person as has an insurable interest in 98
113	113	the life of the member and as the member shall have 99
114	114	nominated in an election of the option, and provided further 100
115	115	that if the person so nominated dies before the retired 101
116	116	member, the retirement allowance shall be increased to the 102
117	117	amount the retired member would be receiving had the member 103
118	118	elected option 1; or 104
119	119	Option 5. 105
120	120	Upon the death of the member prior to the member having 106
121	121	received one hundred twenty monthly payments of the member's 107
122	122	reduced allowance, the remainder of the one hundred twenty 108
123	123	monthly payments of the reduced allowance shall be paid to 109
124	124	such beneficiary as the member shall have nominated in the 110
125	125	member's election of the option or in a subsequent 111
126	126	nomination. If there is no beneficia ry so nominated who 112 SB 474 5
127	127	survives the member for the remainder of the one hundred 113
128	128	twenty monthly payments, the total of the remainder of such 114
129	129	one hundred twenty monthly payments shall be paid to the 115
130	130	surviving spouse, surviving children in equal shares, 116
131	131	surviving parents in equal shares, or estate of the last 117
132	132	person, in that order of precedence, to receive a monthly 118
133	133	allowance in a lump sum payment. If the total of the one 119
134	134	hundred twenty payments paid to the retired individual and 120
135	135	the beneficiary of the retired individual is less than the 121
136	136	total of the member's accumulated contributions, the 122
137	137	difference shall be paid to the beneficiary in a lump sum; or 123
138	138	Option 6. 124
139	139	Upon the death of the member prior to the member having 125
140	140	received sixty monthly payments of the member's reduced 126
141	141	allowance, the remainder of the sixty monthly payments of 127
142	142	the reduced allowance shall be paid to such beneficiary as 128
143	143	the member shall have nominated in the member's election of 129
144	144	the option or in a subsequent nomination. If there is no 130
145	145	beneficiary so nominated who survives the member for the 131
146	146	remainder of the sixty monthly payments, the total of the 132
147	147	remainder of such sixty monthly payments shall be paid to 133
148	148	the surviving spouse, surviving children in equal shares, 134
149	149	surviving parents in equal shares, or estate of the last 135
150	150	person, in that order of precedence, to receive a monthly 136
151	151	allowance in a lump sum payment. If the total of the sixty 137
152	152	payments paid to the retired individual and the beneficiary 138
153	153	of the retired individual is less than the total of the 139
154	154	member's accumulated contributions, the difference shall be 140
155	155	paid to the beneficiary in a lump sum. 141
156	156	(2) The election of an option may be made only in the 142
157	157	application for retirement and such application must be 143
158	158	filed prior to the date on which the retirement of the 144 SB 474 6
159	159	member is to be effective. If either the member or the 145
160	160	person nominated to receive the survivorship payments dies 146
161	161	before the effective date of retirement, the option shall 147
162	162	not be effective, provided that: 148
163	163	(a) If the member or a person retired on disability 149
164	164	retirement dies after acquiring twenty -five or more years of 150
165	165	creditable service or after attaining the age of fifty -five 151
166	166	years and acquiring five or more years of creditable service 152
167	167	and before retirement, except retirement with disability 153
168	168	benefits, and the person named by the member as the member's 154
169	169	beneficiary has an insurable interest in the life of the 155
170	170	deceased member, the designated beneficiary may elect to 156
171	171	receive either survivorship benef its under option 2 or a 157
172	172	payment of the accumulated contributions of the member. If 158
173	173	survivorship benefits under option 2 are elected and the 159
174	174	member at the time of death would have been eligible to 160
175	175	receive an actuarial equivalent of the member's retirem ent 161
176	176	allowance, the designated beneficiary may further elect to 162
177	177	defer the option 2 payments until the date the member would 163
178	178	have been eligible to receive the retirement allowance 164
179	179	provided in subsection 1 or 2 of this section; 165
180	180	(b) If the member or a person retired on disability 166
181	181	retirement dies before attaining age fifty -five but after 167
182	182	acquiring five but fewer than twenty -five years of 168
183	183	creditable service, and the person named as the member's 169
184	184	beneficiary has an insurable interest in the life of th e 170
185	185	deceased member, the designated beneficiary may elect to 171
186	186	receive either a payment of the member's accumulated 172
187	187	contributions, or survivorship benefits under option 2 to 173
188	188	begin on the date the member would first have been eligible 174
189	189	to receive an actuari al equivalent of the member's 175
190	190	retirement allowance, or to begin on the date the member 176 SB 474 7
191	191	would first have been eligible to receive the retirement 177
192	192	allowance provided in subsection 1 or 2 of this section. 178
193	193	4. If the total of the retirement or disabilit y 179
194	194	allowance paid to an individual before the death of the 180
195	195	individual is less than the accumulated contributions at the 181
196	196	time of retirement, the difference shall be paid to the 182
197	197	beneficiary of the individual, or to the surviving spouse, 183
198	198	surviving children in equal shares, surviving parents in 184
199	199	equal shares, or estate of the individual in that order of 185
200	200	precedence. If an optional benefit as provided in option 2, 186
201	201	3 or 4 in subsection 3 of this section had been elected, and 187
202	202	the beneficiary dies after rece iving the optional benefit, 188
203	203	and if the total retirement allowance paid to the retired 189
204	204	individual and the beneficiary of the retired individual is 190
205	205	less than the total of the contributions, the difference 191
206	206	shall be paid to the surviving spouse, surviving children in 192
207	207	equal shares, surviving parents in equal shares, or estate 193
208	208	of the beneficiary, in that order of precedence, unless the 194
209	209	retired individual designates a different recipient with the 195
210	210	board at or after retirement. 196
211	211	5. If a member dies and his or her financial 197
212	212	institution is unable to accept the final payment or 198
213	213	payments due to the member, the final payment or payments 199
214	214	shall be paid to the beneficiary of the member or, if there 200
215	215	is no beneficiary, to the surviving spouse, surviving 201
216	216	children in equal shares, surviving parents in equal shares, 202
217	217	or estate of the member, in that order of precedence, unless 203
218	218	otherwise stated. If the beneficiary of a deceased member 204
219	219	dies and his or her financial institution is unable to 205
220	220	accept the final paym ent or payments, the final payment or 206
221	221	payments shall be paid to the surviving spouse, surviving 207
222	222	children in equal shares, surviving parents in equal shares, 208 SB 474 8
223	223	or estate of the member, in that order of precedence, unless 209
224	224	otherwise stated. 210
225	225	6. If a member dies before receiving a retirement 211
226	226	allowance, the member's accumulated contributions at the 212
227	227	time of the death of the member shall be paid to the 213
228	228	beneficiary of the member or, if there is no beneficiary, to 214
229	229	the surviving spouse, surviving children in equal shares, 215
230	230	surviving parents in equal shares, or to the estate of the 216
231	231	member, in that order of precedence; except that, no such 217
232	232	payment shall be made if the beneficiary elects option 2 in 218
233	233	subsection 3 of this section, unless the beneficiary dies 219
234	234	before having received benefits pursuant to that subsection 220
235	235	equal to the accumulated contributions of the member, in 221
236	236	which case the amount of accumulated contributions in excess 222
237	237	of the total benefits paid pursuant to that subsection shall 223
238	238	be paid to the surviving spouse, surviving children in equal 224
239	239	shares, surviving parents in equal shares, or estate of the 225
240	240	beneficiary, in that order of precedence. 226
241	241	7. If a member ceases to be a public school employee 227
242	242	as herein defined and certifies to the boar d of trustees 228
243	243	that such cessation is permanent, or if the membership of 229
244	244	the person is otherwise terminated, the member shall be paid 230
245	245	the member's accumulated contributions with interest. 231
246	246	8. Notwithstanding any provisions of sections 169.010 232
247	247	to 169.141 to the contrary, if a member ceases to be a 233
248	248	public school employee after acquiring five or more years of 234
249	249	membership service in Missouri, the member may at the option 235
250	250	of the member leave the member's contributions with the 236
251	251	retirement system and cl aim a retirement allowance any time 237
252	252	after reaching the minimum age for voluntary retirement. 238
253	253	When the member's claim is presented to the board, the 239
254	254	member shall be granted an allowance as provided in sections 240 SB 474 9
255	255	169.010 to 169.141 on the basis of the mem ber's age, years 241
256	256	of service, and the provisions of the law in effect at the 242
257	257	time the member requests the member's retirement to become 243
258	258	effective. 244
259	259	9. The retirement allowance of a member retired 245
260	260	because of disability shall be nine -tenths of the allowance 246
261	261	to which the member's creditable service would entitle the 247
262	262	member if the member's age were sixty, or fifty percent of 248
263	263	one-twelfth of the annual salary rate used in determining 249
264	264	the member's contributions during the last school year for 250
265	265	which the member received a year of creditable service 251
266	266	immediately prior to the member's disability, whichever is 252
267	267	greater, except that no such allowance shall exceed the 253
268	268	retirement allowance to which the member would have been 254
269	269	entitled upon retirement at age s ixty if the member had 255
270	270	continued to teach from the date of disability until age 256
271	271	sixty at the same salary rate. 257
272	272	10. Notwithstanding any provisions of sections 169.010 258
273	273	to 169.141 to the contrary, from October 13, 1961, the 259
274	274	contribution rate pursuan t to sections 169.010 to 169.141 260
275	275	shall be multiplied by the factor of two -thirds for any 261
276	276	member of the system for whom federal Old Age and Survivors 262
277	277	Insurance tax is paid from state or local tax funds on 263
278	278	account of the member's employment entitling the person to 264
279	279	membership in the system. The monetary benefits for a 265
280	280	member who elected not to exercise an option to pay into the 266
281	281	system a retroactive contribution of four percent on that 267
282	282	part of the member's annual salary rate which was in excess 268
283	283	of four thousand eight hundred dollars but not in excess of 269
284	284	eight thousand four hundred dollars for each year of 270
285	285	employment in a position covered by this system between July 271
286	286	1, 1957, and July 1, 1961, as provided in subsection 10 of 272 SB 474 10
287	287	this section as it appear s in RSMo, 1969, shall be the sum 273
288	288	of: 274
289	289	(1) For years of service prior to July 1, 1946, six - 275
290	290	tenths of the full amount payable for years of membership 276
291	291	service; 277
292	292	(2) For years of membership service after July 1, 278
293	293	1946, in which the full contribut ion rate was paid, full 279
294	294	benefits under the formula in effect at the time of the 280
295	295	member's retirement; 281
296	296	(3) For years of membership service after July 1, 282
297	297	1957, and prior to July 1, 1961, the benefits provided in 283
298	298	this section as it appears in RSMo, 1 959; except that if the 284
299	299	member has at least thirty years of creditable service at 285
300	300	retirement the member shall receive the benefit payable 286
301	301	pursuant to that section as though the member's age were 287
302	302	sixty-five at retirement; 288
303	303	(4) For years of membersh ip service after July 1, 289
304	304	1961, in which the two -thirds contribution rate was paid, 290
305	305	two-thirds of the benefits under the formula in effect at 291
306	306	the time of the member's retirement. 292
307	307	11. The monetary benefits for each other member for 293
308	308	whom federal Old Age and Survivors Insurance tax is or was 294
309	309	paid at any time from state or local funds on account of the 295
310	310	member's employment entitling the member to membership in 296
311	311	the system shall be the sum of: 297
312	312	(1) For years of service prior to July 1, 1946, six - 298
313	313	tenths of the full amount payable for years of membership 299
314	314	service; 300
315	315	(2) For years of membership service after July 1, 301
316	316	1946, in which the full contribution rate was paid, full 302
317	317	benefits under the formula in effect at the time of the 303
318	318	member's retirement; 304 SB 474 11
319	319	(3) For years of membership service after July 1, 305
320	320	1957, in which the two -thirds contribution rate was paid, 306
321	321	two-thirds of the benefits under the formula in effect at 307
322	322	the time of the member's retirement. 308
323	323	12. Any retired member of the sys tem who was retired 309
324	324	prior to September 1, 1972, or beneficiary receiving 310
325	325	payments under option 1 or option 2 of subsection 3 of this 311
326	326	section, as such option existed prior to September 1, 1972, 312
327	327	will be eligible to receive an increase in the retirement 313
328	328	allowance of the member of two percent for each year, or 314
329	329	major fraction of more than one -half of a year, which the 315
330	330	retired member has been retired prior to July 1, 1975. This 316
331	331	increased amount shall be payable commencing with January, 317
332	332	1976, and shall thereafter be referred to as the member's 318
333	333	retirement allowance. The increase provided for in this 319
334	334	subsection shall not affect the retired member's eligibility 320
335	335	for compensation provided for in section 169.580 or 169.585, 321
336	336	nor shall the amount being paid pursuant to these sections 322
337	337	be reduced because of any increases provided for in this 323
338	338	section. 324
339	339	13. If the board of trustees determines that the cost 325
340	340	of living, as measured by generally accepted standards, 326
341	341	increases two percent or more in the preced ing fiscal year, 327
342	342	the board shall increase the retirement allowances which the 328
343	343	retired members or beneficiaries are receiving by two 329
344	344	percent of the amount being received by the retired member 330
345	345	or the beneficiary at the time the annual increase is 331
346	346	granted by the board with the provision that the increases 332
347	347	provided for in this subsection shall not become effective 333
348	348	until the fourth January first following the member's 334
349	349	retirement or January 1, 1977, whichever later occurs, or in 335
350	350	the case of any member re tiring on or after July 1, 2000, 336 SB 474 12
351	351	the increase provided for in this subsection shall not 337
352	352	become effective until the third January first following the 338
353	353	member's retirement, or in the case of any member retiring 339
354	354	on or after July 1, 2001, the increase provi ded for in this 340
355	355	subsection shall not become effective until the second 341
356	356	January first following the member's retirement. Commencing 342
357	357	with January 1, 1992, if the board of trustees determines 343
358	358	that the cost of living has increased five percent or more 344
359	359	in the preceding fiscal year, the board shall increase the 345
360	360	retirement allowances by five percent. The total of the 346
361	361	increases granted to a retired member or the beneficiary 347
362	362	after December 31, 1976, may not exceed eighty percent of 348
363	363	the retirement allowanc e established at retirement or as 349
364	364	previously adjusted by other subsections. If the cost of 350
365	365	living increases less than five percent, the board of 351
366	366	trustees may determine the percentage of increase to be made 352
367	367	in retirement allowances, but at no time can the increase 353
368	368	exceed five percent per year. If the cost of living 354
369	369	decreases in a fiscal year, there will be no increase in 355
370	370	allowances for retired members on the following January 356
371	371	first. 357
372	372	14. The board of trustees may reduce the amounts which 358
373	373	have been granted as increases to a member pursuant to 359
374	374	subsection 13 of this section if the cost of living, as 360
375	375	determined by the board and as measured by generally 361
376	376	accepted standards, is less than the cost of living was at 362
377	377	the time of the first increase gr anted to the member; except 363
378	378	that, the reductions shall not exceed the amount of 364
379	379	increases which have been made to the member's allowance 365
380	380	after December 31, 1976. 366
381	381	15. Any application for retirement shall include a 367
382	382	sworn statement by the member cer tifying that the spouse of 368 SB 474 13
383	383	the member at the time the application was completed was 369
384	384	aware of the application and the plan of retirement elected 370
385	385	in the application. 371
386	386	16. Notwithstanding any other provision of law, any 372
387	387	person retired prior to Septem ber 28, 1983, who is receiving 373
388	388	a reduced retirement allowance under option 1 or option 2 of 374
389	389	subsection 3 of this section, as such option existed prior 375
390	390	to September 28, 1983, and whose beneficiary nominated to 376
391	391	receive continued retirement allowance paym ents under the 377
392	392	elected option dies or has died, shall upon application to 378
393	393	the board of trustees have his or her retirement allowance 379
394	394	increased to the amount he or she would have been receiving 380
395	395	had the option not been elected, actuarially adjusted to 381
396	396	recognize any excessive benefits which would have been paid 382
397	397	to him or her up to the time of application. 383
398	398	17. Benefits paid pursuant to the provisions of the 384
399	399	public school retirement system of Missouri shall not exceed 385
400	400	the limitations of Section 415 of Title 26 of the United 386
401	401	States Code except as provided pursuant to this subsection. 387
402	402	Notwithstanding any other law to the contrary, the board of 388
403	403	trustees may establish a benefit plan pursuant to Section 389
404	404	415(m) of Title 26 of the United States Code. Such plan 390
405	405	shall be created solely for the purpose described in Section 391
406	406	415(m)(3)(A) of Title 26 of the United States Code. The 392
407	407	board of trustees may promulgate regulations necessary to 393
408	408	implement the provisions of this subsection and to create 394
409	409	and administer such benefit plan. 395
410	410	18. Notwithstanding any other provision of law to the 396
411	411	contrary, any person retired before, on, or after May 26, 397
412	412	1994, shall be made, constituted, appointed and employed by 398
413	413	the board as a special consultant on the matter s of 399
414	414	education, retirement and aging, and upon request shall give 400 SB 474 14
415	415	written or oral opinions to the board in response to such 401
416	416	requests. As compensation for such duties the person shall 402
417	417	receive an amount based on the person's years of service so 403
418	418	that the total amount received pursuant to sections 169.010 404
419	419	to 169.141 shall be at least the minimum amounts specified 405
420	420	in subdivisions (1) to (4) of this subsection. In 406
421	421	determining the minimum amount to be received, the amounts 407
422	422	in subdivisions (3) and (4) of this subsection shall be 408
423	423	adjusted in accordance with the actuarial adjustment, if 409
424	424	any, that was applied to the person's retirement allowance. 410
425	425	In determining the minimum amount to be received, beginning 411
426	426	September 1, 1996, the amounts in subdivisions ( 1) and (2) 412
427	427	of this subsection shall be adjusted in accordance with the 413
428	428	actuarial adjustment, if any, that was applied to the 414
429	429	person's retirement allowance due to election of an optional 415
430	430	form of retirement having a continued monthly payment after 416
431	431	the person's death. Notwithstanding any other provision of 417
432	432	law to the contrary, no person retired before, on, or after 418
433	433	May 26, 1994, and no beneficiary of such a person, shall 419
434	434	receive a retirement benefit pursuant to sections 169.010 to 420
435	435	169.141 based on the person's years of service less than the 421
436	436	following amounts: 422
437	437	(1) Thirty or more years of service, one thousand two 423
438	438	hundred dollars; 424
439	439	(2) At least twenty-five years but less than thirty 425
440	440	years, one thousand dollars; 426
441	441	(3) At least twenty years but less than twenty -five 427
442	442	years, eight hundred dollars; 428
443	443	(4) At least fifteen years but less than twenty years, 429
444	444	six hundred dollars. 430
445	445	19. Notwithstanding any other provisions of law to the 431
446	446	contrary, any person retired prior to May 26, 1994 , and any 432 SB 474 15
447	447	designated beneficiary of such a retired member who was 433
448	448	deceased prior to July 1, 1999, shall be made, constituted, 434
449	449	appointed and employed by the board as a special consultant 435
450	450	on the matters of education, retirement or aging and upon 436
451	451	request shall give written or oral opinions to the board in 437
452	452	response to such requests. Beginning September 1, 1996, as 438
453	453	compensation for such service, the member shall have added, 439
454	454	pursuant to this subsection, to the member's monthly annuity 440
455	455	as provided by this section a dollar amount equal to the 441
456	456	lesser of sixty dollars or the product of two dollars 442
457	457	multiplied by the member's number of years of creditable 443
458	458	service. Beginning September 1, 1999, the designated 444
459	459	beneficiary of the deceased member shall as comp ensation for 445
460	460	such service have added, pursuant to this subsection, to the 446
461	461	monthly annuity as provided by this section a dollar amount 447
462	462	equal to the lesser of sixty dollars or the product of two 448
463	463	dollars multiplied by the member's number of years of 449
464	464	creditable service. The total compensation provided by this 450
465	465	section including the compensation provided by this 451
466	466	subsection shall be used in calculating any future cost -of- 452
467	467	living adjustments provided by subsection 13 of this section. 453
468	468	20. Any member who has retired prior to July 1, 1998, 454
469	469	and the designated beneficiary of a deceased retired member 455
470	470	shall be made, constituted, appointed and employed by the 456
471	471	board as a special consultant on the matters of education, 457
472	472	retirement and aging, and upon request shall give written or 458
473	473	oral opinions to the board in response to such requests. As 459
474	474	compensation for such duties the person shall receive a 460
475	475	payment equivalent to eight and seven -tenths percent of the 461
476	476	previous month's benefit, which shall be added to th e 462
477	477	member's or beneficiary's monthly annuity and which shall 463
478	478	not be subject to the provisions of subsections 13 and 14 of 464 SB 474 16
479	479	this section for the purposes of the limit on the total 465
480	480	amount of increases which may be received. 466
481	481	21. Any member who has ret ired shall be made, 467
482	482	constituted, appointed and employed by the board as a 468
483	483	special consultant on the matters of education, retirement 469
484	484	and aging, and upon request shall give written or oral 470
485	485	opinions to the board in response to such request. As 471
486	486	compensation for such duties, the beneficiary of the retired 472
487	487	member, or, if there is no beneficiary, the surviving 473
488	488	spouse, surviving children in equal shares, surviving 474
489	489	parents in equal shares, or estate of the retired member, in 475
490	490	that order of precedence, shal l receive as a part of 476
491	491	compensation for these duties a death benefit of five 477
492	492	thousand dollars. 478
493	493	22. Any member who has retired prior to July 1, 1999, 479
494	494	and the designated beneficiary of a retired member who was 480
495	495	deceased prior to July 1, 1999, shall be made, constituted, 481
496	496	appointed and employed by the board as a special consultant 482
497	497	on the matters of education, retirement and aging, and upon 483
498	498	request shall give written or oral opinions to the board in 484
499	499	response to such requests. As compensation for su ch duties, 485
500	500	the person shall have added, pursuant to this subsection, to 486
501	501	the monthly annuity as provided by this section a dollar 487
502	502	amount equal to five dollars times the member's number of 488
503	503	years of creditable service. 489
504	504	23. Any member who has retired prior to July 1, 2000, 490
505	505	and the designated beneficiary of a deceased retired member 491
506	506	shall be made, constituted, appointed and employed by the 492
507	507	board as a special consultant on the matters of education, 493
508	508	retirement and aging, and upon request shall give w ritten or 494
509	509	oral opinions to the board in response to such requests. As 495
510	510	compensation for such duties, the person shall receive a 496 SB 474 17
511	511	payment equivalent to three and five -tenths percent of the 497
512	512	previous month's benefit, which shall be added to the member 498
513	513	or beneficiary's monthly annuity and which shall not be 499
514	514	subject to the provisions of subsections 13 and 14 of this 500
515	515	section for the purposes of the limit on the total amount of 501
516	516	increases which may be received. 502
517	517	24. Any member who has retired prior to J uly 1, 2001, 503
518	518	and the designated beneficiary of a deceased retired member 504
519	519	shall be made, constituted, appointed and employed by the 505
520	520	board as a special consultant on the matters of education, 506
521	521	retirement and aging, and upon request shall give written or 507
522	522	oral opinions to the board in response to such requests. As 508
523	523	compensation for such duties, the person shall receive a 509
524	524	dollar amount equal to three dollars times the member's 510
525	525	number of years of creditable service, which shall be added 511
526	526	to the member's or beneficiary's monthly annuity and which 512
527	527	shall not be subject to the provisions of subsections 13 and 513
528	528	14 of this section for the purposes of the limit on the 514
529	529	total amount of increases which may be received. 515
530	530	