Section 86.445

Title VII CITIES, TOWNS AND VILLAGES

Chapter 86

Effective - 28 Aug 2003, 2 histories, see footnote   (history) 

  86.445.  Incentives for early retirement, authority to administer and pay. — If a city and the police department of such city adopt any program of incentives to authorize or encourage early retirements, whether for employees not yet eligible for regular retirement or for employees who are eligible but have not yet chosen to retire or for both, the retirement board shall be authorized to administer and pay such incentives for retirees who accept such incentives and are members of this retirement system under and pursuant to sections 86.370 to 86.497, in addition to such other benefits as such members or their beneficiaries are entitled to receive under and pursuant to sections 86.370 to 86.497 provided such city shall so request and shall agree to increase the city's contribution under and pursuant to section 86.477 sufficiently to provide the full actuarial cost of any such incentives in addition to the contribution required of such city necessary, in conjunction with members' contributions under and pursuant to section 86.470, to provide all other benefits provided under and pursuant to sections 86.370 to 86.497.

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(L. 2003 H.B. 152 & 180 merged with S.B. 212 & 220 merged with S.B. 248, et al.)