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  • Last Day of Work

    Jun 29, 2018, 8:47 AM By MOSERS

    I was told: When retiring. You MUST work your last day before retirement. I was told that you cannot use comp or vacation time on your last working day.

    Just to clarify—your last day at work is your “termination date”. Your “retirement date,” when it comes to getting your benefits from MOSERS, is the date you put on your Retirement Application and it will be the first day of the month in which you start receiving retirement benefit payments. For example, if a member’s last day at work is January 31, their retirement date could be February 1.

    Your retirement date must be the first day of the month. You will need to contact your Human Resources representative regarding if you need to be present on your last day of work.

    Annual leave has no effect on your MOSERS benefit. Please contact your agency’s human resources representative to determine your agency's procedure for using annual leave prior to retirement.

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  • Using Leave After Applying for Retirement

    Jun 1, 2018, 3:30 PM By MOSERS

    Once you submit retirement papers with a date for retirement are you allowed to take any annual or sick time?

    Yes. Check with your agency’s human resources office about your specific guidelines for annual and sick leave accrual and usage before retirement. Please be aware that MOSERS converts each block of 168 hours of unused sick leave into a month of service credit to be used in your retirement benefit calculation. So, any usage of sick leave near your retirement date may affect previous benefit estimates you have received. Annual leave has no effect on your MOSERS benefit.

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  • Annual Leave and Medical Premiums

    May 9, 2018, 9:24 AM By MOSERS

    I have heard that at the time of retirement that you can use your AL balance to pay for medical coverage for up to a year.  Is this true and if so how does it work?

    Yes, this is true. Check with your HR staff and MCHCP for specific information as it relates to you, but here is some general information we received from MCHCP on the topic: Your employer’s payout for your unused annual leave/vacation can be used to pay your medical insurance premiums during the remainder of the year in which you retire. When you fill out your MCHCP Retiree Enrollment Form, you may elect to deduct your premiums using your one-time lump-sum annual leave payout as long as you did not opt out of the Cafeteria Plan’s premium only category and current premiums are deducted pre-tax. Depending on how many hours of annual leave you have, this can be a sizeable amount and can result in tax savings!

    After you send the form in, MCHCP will contact your department’s payroll representative to verify your lump-sum payout amount. You may only pre-pay for the remaining premiums in the year you have retired. For example, if you retire in July, you may potentially pay for your August-December premiums with your unused annual leave payout.

    For more information about your particular situation, please contact MCHCP at (800) 487-0771.
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Disclaimer

We strive to provide the most accurate information possible in our answers to Rumor Central questions. However, occasionally, laws, policies or provisions change and individual circumstances may vary. Please contact a MOSERS benefit counselor or see the handbooks in our website Library for more detailed information. If there is any difference between the information provided in this blog or on the MOSERS website and the law or policies that govern MOSERS, the law and policies will prevail. See our Privacy, Security,& Legal Notices for more information.

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