Get ready for retirement with these essential tips to ensure you're fully prepared for the future.

Attend a Ready to Retire Seminar

One of the best ways to plan for your future retirement is by attending one of our seminars for members who are within five years of retirement eligibility. These seminars will help you understand the decisions you will need to make and prepare you for the retirement process.

We offer both online webinars and in-person seminars for MSEP, MSEP 2000, and MSEP 2011 members. Visit our Education page to learn more and to register for a session!

Be Aware of Benefit Amount Changes

If you are a member of MSEP 2000 or MSEP 2011 and eligible to retire under the “Rule of 80/90,” you will receive a temporary benefit in addition to your base benefit until age 62. This temporary benefit ends at age 62. Plan ahead for this change in income.

Plan for Healthcare Costs

It’s important to contact your healthcare provider to confirm your premium costs as a retiree with or without Medicare. Many members are not aware that premium amounts change for retirees. Before retirement, you will also need to complete a form with MCHCP, electing whether to maintain or cancel your coverage.

Contact MCHCP or visit their Member Education page to learn more about continuing your healthcare coverage into retirement.

Find Out About Your Social Security Benefits

The amount of income that your Social Security retirement benefit will replace depends on your earnings and the age you want to start receiving a benefit. If you are planning to retire before your Full Retirement Age (between age 66 and 67), you can check out the SSA's Plan for Retirement page to estimate your benefit amount. Make sure to include your last day worked at your highest salary to see how retiring younger can affect your future Social Security benefit.

Get Advice From a Tax Expert

We recommend meeting with a tax advisor before going through the retirement process, so you are aware of your withholding liability. Contact the IRS or your tax advisor to determine your tax liability on your MOSERS benefits and if you are taking a BackDROP lump sum amount at retirement.

MOSERS staff does not provide tax advice and cannot advise you on how to fill out tax forms or your tax liability as it pertains to your MOSERS pension.

Determine if You Need Life Insurance Coverage

You may be eligible to retain some of your optional life insurance coverage at retirement. To retain your optional life insurance as a retiree, complete the Retain/Change Optional Life Insurance form during the retirement process and specify the amount you want to retain in increments of $1,000.

Keep in mind that the insurance premium will be deducted from your monthly pension benefit and may be adjusted every January based on your age and the amount of life insurance coverage you selected. View the Life Insurance Rate Card to determine your monthly rate.

Retire Online

The easiest and most convenient way to apply for retirement is online. You can complete both steps in the two-step retirement process all at once or leave and finish the process later. Simply log in to myMOSERS, then select Retire Online. The step-by-step instructions will guide you through the online retirement process.