A note from MO Deferred Comp regarding PRN status employees

The MO Deferred Comp Plan has seen an increase in withdrawal requests from PRN status employees. Per the MO Deferred Comp plan document section 2.11, an “Employee means any individual who is a common-law employee of the Employer (the State of Missouri and its agencies or departments), regardless of the part-time or full-time status, and including temporary employees. For this purpose, a ‘temporary employee’ means an employee hired on an hourly, intermittent, or seasonal basis.”

Withdrawals from MO Deferred Comp are available after termination of employment, which occurs because of retirement, discharge, resignation, or death. If an employee has not retired under MOSERS or MPERS, or terminated for one of the other reasons listed above, a termination status will not be updated.

When an employee elects to move to a PRN status without terminating, they remain an active employee and are not eligible to receive a regular distribution from the plan. They may at that time apply for an unforeseen emergency withdrawal if their circumstances warrant.

If your agency has questions regarding this process, contact the local MO Deferred Comp office at (800) 392-0925 opt. 2 for clarification.