We will calculate the COLA in mid-January (once all the data is available) and post it on our website. Be sure to keep an eye out for it!

According to Missouri state law, each January, MOSERS must compare the average Consumer Price Index (CPI) for the calendar year just completed (2024) to the average CPI from the prior year (2023) to determine the percentage change between the two years. For general state employees, COLAs are based on 80% of the percentage increase in the average Consumer Price Index (CPI) from one year to the next. The maximum increase is 5% (minimum 0%).

How MOSERS calculates the COLA for retirees is outlined in state law. The Social Security Administration uses a different process to calculate COLAs for Social Security benefits:

• SSA uses the CPI-W index; MOSERS uses the CPI-U index, the Consumer Price Index for Urban Consumers.
• SSA bases their COLA off the 3rd calendar quarter change; MOSERS COLAs are based on the percentage increase in the average Consumer Price Index (CPI) from one year to the next using data from the entire year.
• The SSA COLA is 100% of the change; the MOSERS COLA is 80% of the percentage increase from one year to the next.

See the Cost-of-Living Adjustments page on our website for more information.

Congratulations on your upcoming retirement!

It is unclear from your comment if you have notified your human resources (HR) office. If you are actively employed with a state agency when you apply for retirement and if you have not already done so, please check with your HR office and follow your employer’s termination process. The termination process with your employer is separate from applying for benefits with MOSERS. Your HR office is the one who can tell you if you need to notify your supervisor or regional office. You will also want to make arrangements with HR to have any unused annual leave and/or comp time paid out to you.

See the Ready to Retire page on our website for additional tips on the MOSERS process.

Keep in mind that there are other benefit providers, including your medical insurance provider, that you may need to coordinate with as you move through the retirement process. See the Destination Retirement brochure for helpful checklists with various benefit providers.

For general state employees, MOSERS uses a three-part formula to calculate your monthly base benefit. This formula, as defined by law, includes the following factors:

• Final Average Pay (FAP) – The average of your highest 36 consecutive months of compensation.
• Multiplier – A number established by the legislature (1.6% or 0.016 for MSEP; 1.7% or 0.017 for MSEP 2000 and MSEP 2011).
• Credited Service – Your years and months of credited service earned, purchased, or transferred, and unused sick leave (if applicable).

Examples - Using the multiplier for MSEP 2000 or MSEP 2011 retirees:

$3,000 (FAP) x 0.017 (Multiplier) x 15 years (Credited Service) = $765 monthly base benefit

$3,500 (FAP) x 0.017 (Multiplier) x 17.5 years (Credited Service) = $1,041.25 monthly base benefit

$4,000 (FAP) x 0.017 (Multiplier) x 30 years (Credited Service) = $2,040 monthly base benefit

$_____ (FAP)   x   ____ (Multiplier)   x    ____ years (Credited Service)   =   $_______ monthly base benefit

*Base benefit is the amount before any reductions, taxes, or other deductions.

Learn more about the benefit formula breakdown in the Summary of Plan Benefits and by plan on our website: MSEP, MSEP 2000, and MSEP 2011.

You can also generate a benefit estimate by logging in to myMOSERS or contacting a MOSERS benefit counselor.

If you are a vested member of MSEP, MSEP 2000, or MSEP 2011 and leave state employment before you are eligible to retire, your pension stays secure with MOSERS and will be available to you when you meet the age requirement for your plan and complete the retirement process. Retirees receive a lifetime payment based on a.) a formula set by law and b.)  the option they elect at retirement. See Leaving State Employment for more information.

If you return to work for the state at a later date, you will start earning service credit immediately and will be eligible to retire once you meet the following requirements based on your plan:

MSEP Normal Retirement Eligibility (Full/Unreduced Benefit)

• Age 65 with 5 years of service or
• Age 60 with 15 years of service or
• At least age 48 with the sum of your age and years of service equaling 80 or more (Rule of 80)

MSEP 2000 Normal Retirement Eligibility (Full/Unreduced Benefit)

• Age 62 with 5 years of service or
• At least age 48 with the sum of your age and years of service equaling 80 or more (Rule of 80)

MSEP 2011 Normal Retirement Eligibility (Full/Unreduced Benefit)

• Age 67 with 5 years of service or
• At least age 55 with the sum of your age and years of service equaling 90 or more (Rule of 90)

Please contact a MOSERS benefit counselor. They can review your individual circumstances and tell you specifically when you will be eligible to retire based on different scenarios.

As a state employee, you may be participating in both the MOSERS defined-benefit pension and the supplemental retirement savings program through MO Deferred Comp. Since we are not sure which one you are referring to, we’ve addressed both below.

Defined Benefit Pension: You cannot access your MOSERS defined benefit pension until retirement. However, if you no longer work in a MOSERS benefit-eligible position and are a member of MSEP 2011, you may request a refund of your employee contributions. Please see our Employee Contributions brochure for more information. Use the Request for Refund of Employee Contributions - Member form, have it notarized and return it to MOSERS by mail, bring it into our office during normal business hours, or put it in our 24/7 drop box near the front of our building. Our address is on the top of the form.

Missouri law requires MOSERS to pay your refund within an administratively reasonable period but no sooner than 90 days from the date your state employment ended.

By taking a refund, you will lose all your credited service and future rights to receive pension and LTD benefits from MOSERS.

MO Deferred Comp: If you are still employed with the state, you cannot access your MO Deferred Comp 457 retirement savings except for qualified unforeseen emergency withdrawals. However, upon separation of service and notification from your employer – either voluntary, by retirement, or otherwise – you may be eligible to withdraw money from your MO Deferred Comp Plan account.

Visit the MO Deferred Comp website for more information, or if you have any questions, please call (800) 392-0925.

All retired general state employees will receive a 3.293% COLA in 2024. MOSERS provides annual cost-of-living adjustments (COLAs) to retired members and their surviving beneficiaries. A COLA increases your pay or pension benefits to help with inflation, allowing you to maintain your purchasing power as the cost of goods and services increases.

You will receive your COLA on the anniversary of your retirement date, with the following exceptions:

• If you converted from MSEP to MSEP 2000 during the conversion window in 2000, you would receive your COLA in July.
• If you elected BackDROP, you will receive your COLA on the anniversary of your BackDROP date.
• If you are a retired inactive-vested member of MSEP 2011, you will receive your first COLA on the second anniversary of your retirement (rather than the first anniversary).
• If you are a retired legislator who took office after July 1, 2000, your benefit will be adjusted according to the increase in pay for an active member of the general assembly. No other COLAs will be provided.
• If you are a retired statewide elected official who took office after July 1, 2000, your benefit will be adjusted according to the increase in pay for an active member in that office. No other COLAs will be provided.