City of Granby, MO Article VI Retirement

Section 115.170 Missouri Local Government Employees Retirement System (LAGERS). [1]

[Ord. No. 773, 1-28-2014]

A. The Council of the City of Granby, a political subdivision, as defined in Sections 70.600 through 70.755, RSMo. (2000), as amended, hereby elects to become a participating political subdivision of the Missouri Local Government Employees Retirement System, and to thereby provide retirement benefits to all its eligible general employees and Police Officers under benefit Program L-1.

B. The Council of the City of Granby hereby elects one hundred percent (100%) of prior employment be considered for prior service credit in calculating benefits and contributions to LAGERS. Such service shall be credited only to employees who remain in a covered position with this employer for one (1) full year after the effective date of membership, pursuant to the provisions of Section 70.640, RSMo.

C. The Council of the City of Granby hereby elects that employees eligible to become members of LAGERS are those employees employed in positions normally requiring one thousand five hundred (1,500) hours of work a year, provided such employees are not members of another governmental retirement plan, or are otherwise excluded from membership in LAGERS by State law.

D. The Council of the City of Granby hereby elects to have the final average salary of the employee members determined over a sixty-consecutive-month period.

E. The Council of the City of Granby hereby elects to require employees who become members of LAGERS to pay four percent (4%) gross salary and wages as employee contributions to LAGERS.

F. The Council of the City of Granby hereby elects the regular retirement age for all eligible employees.

G. The City Clerk of the City of Granby is hereby authorized and directed to deduct from the wages or salaries of each employee member, the employee contributions, if any, required by Section 70.705, RSMo. (2000), and to promptly remit such contributions to LAGERS, along with the employer contributions required by Sections 70.705 and 70.730, RSMo. (2000), as amended. It is understood there is no statutory provision for a participating political subdivision to terminate its membership under LAGERS.

[1] Editor's Note: This ordinance provided that the City of Granby's participation as a LAGERS political subdivision would commence on the pay period beginning 1-26-2014.