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  • MSEP 2000 Retirement Eligibility

    Jun 12, 2018, 8:14 AM By MOSERS

    i started working for the state at the age of 51 I started in dec 2010 I want to retire at the age of 62 but I won't have 80 and out, will I still get my state check even if I don't have 80 and out?

    Yes, you may be eligible for retirement at age 62 even if your age and service don’t add up to 80. The Rule of 80 (also known as “80 & Out”) is not the only way to meet retirement eligibility. If you first worked in a MOSERS benefit-eligible position in 2010, you are a member of the MSEP 2000. The other way to meet normal (unreduced) retirement eligibility in the MSEP 2000 is to be at least age 62 with at least 5 years of service. Visit our Ready to Retire page to learn about the 2-step retirement process, which you must complete to begin receiving monthly retirement payments.

    For more information:

    • See What’s My Plan? (bottom of the MOSERS website homepage) with information about plan membership, retirement eligibility requirements, and other plan provisions.
    • You can contact a MOSERS benefit counselor to discuss your specific situation and they can provide you with a retirement benefit estimate.
    • When you are within 5 years of retirement eligibility, it is helpful to attend a free Ready to Retire/PreRetirement Seminar.
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  • Comparison of MSEP & MSEP 2000

    Feb 26, 2018, 4:09 PM By MOSERS

    What are the major differences between MSEP & MSEP 2000?

    The MSEP and the MSEP 2000 have various differences including different multipliers in the formula used to calculate your monthly payment, different benefit payment options, different cost-of-living adjustments (COLA), and different eligibility criteria. See the pages linked above or What’s My Plan? (bottom of the MOSERS website homepage) with information about plan membership, retirement eligibility requirements, and other plan provisions. 

    We have a helpful Comparison Calculator on our website where you can compare the long-term impact of electing MSEP versus MSEP 2000, different BackDROP* periods under the different plans, and various other options. The Comparison Calculator videos are helpful in demonstrating how to use this tool. Or, you can contact a MOSERS benefit counselor to ask that they provide you with various benefit estimates and Comparison Calculator results.

    We also encourage you to attend a MSEP/MSEP 2000 Ready to Retire/PreRetirement Planning Seminar when you are within 5 years of eligibility. This free full-day seminar includes information on differences in the plans, benefit payment options, and BackDROP, among other topics.

    Your defined benefit retirement plan through MOSERS includes a lifetime benefit, regardless of the plan or payment option you elect at retirement.
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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.