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Oct 7, 2020, 4:19 PM By MOSERSIs there a way to purchase 48 months of military time, where Mosers deducts the purchase amount from the Back Drop total. ???
No. You must complete any purchase of military service prior to applying for retirement. BackDROP funds are distributed after retirement. However, if you have money in your MO Deferred Comp account, as a member of MSEP or MSEP 2000, you can use those funds to purchase prior military service (exception: Roth 457 assets cannot be used to purchase service credit). You can view our Purchasing and Transferring Service Credit brochure (MSEP & MSEP 2000) for more information. If you have additional questions, feel free to contact a MOSERS benefit counselor or contact MO Deferred Comp.
Feb 13, 2019, 8:34 AM By MOSERS
I was told that I could use the money from my Deferred Comp to purchase my military time. Is that correct? If so, how would I do so? I could not find any details about in on the website.
Yes, your MO Deferred Comp 457(b) – excluding Roth 457 assets – and 401(a) funds are available to use for purchasing prior military service. If you have not already done so, complete the Application to Purchase Active-Duty Military Service, required documentation and submit it to MOSERS. We will provide you with an estimate of the cost to purchase your prior military service and a Tax-Free Rollover to MOSERS form that you can use to perform that transaction.
For additional information, here is a description of this service purchase option from page 6 of our Purchasing and Transferring Service Credit brochure (MSEP & MSEP 2000):
You may purchase up to four years of active-duty military service credit performed prior to last becoming a member of MOSERS. This may include active-duty military training. To be eligible to purchase military service credit, you must be:
- A vested, actively employed member of MOSERS, or
- A terminated-vested member of MSEP (eligible for future benefits, but no longer working for the state).
If you elect to purchase your active-duty military service, you must purchase all that you served (total months and days) up to a maximum of four years. In connection with such a purchase, MOSERS requires that you submit a copy (not the original) of your military DD 214 or NGB 23 discharge form, which verifies the following:
- Your service was active duty.
- Your service was in an eligible branch of the U.S. Armed Forces or reserve component (Army, Air Force, Navy, Marine Corps, Coast Guard, Army National Guard, or Air National Guard).
- Your dates of service.
- You were honorably discharged.
Any active-duty military service you wish to purchase must have been performed prior to last becoming a member of MOSERS. Active-duty military service performed after you last leave state employment is not eligible for purchase or automatic credit.
You may only acquire active military service that is not being used for credit or benefits under another retirement plan, other than the U.S. military.
May 31, 2018, 11:28 AM By MOSERS
I just have a question regarding having Served in the Army Reserve. Can a state employee receive any credit for having served as a Reservist?
Yes, it is possible, depending on when your military service was performed relative to your state employment. There are provisions that allow you to 1.) purchase or 2.) receive automatic credit at no cost* for your eligible active-duty military service. Short duration active-duty military service such as two-week annual trainings in the reserve forces may qualify for service credit. This additional service credit will be used in determining your eligibility for retirement and calculating the amount of your benefit.
We encourage anyone interested in purchasing prior active-duty military service to contact a MOSERS benefit counselor, who can provide cost estimates. The primary timing issue for you to consider when making a service purchase is that, the longer you wait, the more it will cost. In other words, it is often to your advantage, in terms of cost, to purchase service sooner rather than later to avoid additional interest costs. See the Purchasing and Transferring Service Credit brochure (MSEP &MSEP 2000) (page 6) for more information. Any eligible purchases must be applied for and paid for in full prior to applying for retirement.
*Note: Members of the MSEP 2011 may get automatic credit if they were employed by the state immediately prior to entering the armed forces and return to state employment within the timeframe specified by USERRA. However, purchase of prior active-duty military service credit is not available to members of MSEP 2011.
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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.