16 CSR 50-3.070 - Refund of Buybacks
PURPOSE: This rule clarifies the process by which certain former county employees may obtain a refund of their buyback payment.
(1) Former county
employees who have tendered their fifty percent (50%) buyback to the County
Employees' Retirement Fund (CERF) as provided in
16 CSR
50-3.060, but have not received a benefit, may request
a refund of their buyback. To receive a refund, the former county employee must
submit a written request to the plan administrator of CERF. Upon executing the
refund request, the former county employee will forfeit the spousal
survivorship benefit.
(2) A former
county employee who receives a refund of his or her buyback may reapply to
serve as a special consultant in the future.
Notes
*Original authority: 50.1032, RSMo 1995.
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