Refunds

PURPOSE: The purpose of this rule is to establish guidelines regarding refunds of employee contributions. (1) The executive secretary is authorized to make refunds of member’s accumulated contributions upon termination of employment with an employer. (2) The employee must submit a written request for the refund of the member’s accumulated contributions on a form furnished by the board, which may be an electronic form. (3) The member’s employer must certify that the employee has left the employ of the employer. (4) The Retirement System (LAGERS) will not refund a member’s accumulated contributions until the employer has remitted the employer statement certifying that the member is no longer receiving remuneration or making contributions to the system. Refunds are issued on the first and fifteenth days of a month (or the first business day thereafter if the 1st or 15th day is not a business day). (5) The executive secretary shall report to the board at each meeting of the board, the refunds of employees’ accumulated contributions made by LAGERS since the last meeting of the board. (6) The executive secretary may grant a six- (6-) month period of time for the repayment of previously refunded contributions. AUTHORITY: section 70.605.21, RSMo 2016.* Original rule filed Dec. 29, 1975, effective Jan. 8, 1976. Amended: Filed Oct. 6, 1983, effective Jan. 11, 1984. Amended: Filed Feb. 16, 1999, effective July 30, 1999. Amended: Filed May 3, 2019, effective Nov. 30, 2019. *Original authority: 70.605, RSMo 1967, amended 1974, 1992, 2000, 2003, 2013.