Policy 4550 – Retirement Compensation

Retirement provisions for all eligible employees will be in accordance with the provisions of the
Missouri Public School Retirement System (PSRS) and the Public Education Employees
Retirement System (PEERS).

Full-time certificated staff employed after April 15, 1986, are subject to the Medicare portion of
Social Security.

At the time of initial employment an employee shall be given his/her first COBRA notification.
Second notification and continuation of benefits are contingent upon the employee notifying the
District of a qualifying event.

Any plan of group health insurance shall include a provision allowing persons who retire, or who
have retired, to become members of the plan if they are eligible to receive benefits under the
Retirement System, by paying premiums at the same rate as other members of the group.
Employees who retire or who have retired and who are eligible for retirement benefits from
either the PSRS or PEERS Plans are eligible to participate in District health benefit programs. In
addition, the spouse and/or unmarried dependent children of any employee may also participate
in District health benefit programs provided that these family members are receiving or are
eligible to receive retirement benefits from either the PSRS or PEERS Systems. The retiree must
apply for insurance coverage within the first year he/she is eligible to receive retirement benefits.

Reporting Requirements

Ineligibility for Retirement Benefits

If an employee or former employee is charged or convicted of any of the listed felonies, where
such felony is committed in direct connection with or related to the employee’s duties with the
District, the District will notify the employee’s relevant retirement plan, PSRS or PEERS. Such
reporting is only required where such filing was committed after August 28, 2014 and where
District administrators knew of such charge or conviction. The District will further provide to the
respective retirement plan all information related to the charge or conviction that is in the
District’s possession. Reportable offenses include:

1. Stealing involving money, property, or services valued at $5,000.00 or more;
2. Receiving stolen property involving money, property, or services valued at $5,000.00 or
   more;
3. Forgery;
4. Counterfeiting;
5. Bribery of a public servant;
6. Acceding to corruption 576.020

Conviction of one of the felonies set out in this policy may result in ineligibility for retirement
benefits.

Reporting as Requested by PSRS

The District will cooperate with PSRS requests for information concerning the District’s use of
PSRS retired persons providing substitute teaching or other positions that would normally
require certification. This reporting/assistance request applies to such retired persons who
provide such services through an independent contractor.