Hearing Rumors? Not sure your co-worker has it right?
Rumor Central has the answers! Submit your question or just browse our blog to separate facts from fiction.
Subscribe to Rumor Central
Subscribe to receive a monthly email that includes answers to recent Rumor Central questions.
Log in to myMOSERS. Click on Personal Information, then on Email Options. Check the box next to Rumor Central.
-
Which retirement plan do I fall under?
Sep 24, 2024, 8:53 AM By MOSERSI hired on in March of 2000. I cannot remember which retirement plan I fall under.
In general, if you were employed in a benefit-eligible position with the state of Missouri prior to July 1, 2000, and remained employed until vested in MSEP, then you are a member of MSEP. At retirement, you may elect to retire under MSEP or MSEP 2000.See the What’s My Plan? tool for information about plan membership, retirement eligibility requirements, and more!
-
MSEP 2011 & Purchasing Military Service
Jun 24, 2024, 10:49 AM By MOSERSI am interested in buying some of my military time and was wondering how that works?
Purchase of prior military service is not available to members of MSEP 2011 or the Judicial Plan 2011.
However, if you are called to or volunteer for active military duty while employed in a MOSERS-covered position, the Uniformed Services Employment and Reemployment Rights Act (USERRA) protects your employment and benefit rights, provided you meet the eligibility requirements. You may be eligible to receive credit for your active-duty service if you were employed by the state immediately before entering the armed forces, then return to state employment within the timeframe specified by USERRA and provide a copy of your honorable discharge and military DD214 (Member-4) and meet any other requirements under USERRA.
If you have additional questions, please refer to our Purchasing and Transferring Service Guide for MSEP 2011 Members or contact a MOSERS benefit counselor for more information.
-
New Employee Benefit Enrollment
Mar 25, 2024, 2:35 PM By MOSERSI am a new employee and I have set up my retirement. I have received one paycheck so far and my question is, is it too late to make changes? Do I need to wait for open enrollment?As a new employee with the state of Missouri, you should have received instructions to enroll in SEBES, the Statewide Employee Benefit Enrollment System. Visit www.sebes.mo.gov and log in with your SEBES password before the deadline, which is 31 days from your hire date. After the deadline, you must contact the appropriate benefit provider(s) directly to determine eligibility.
Once you are enrolled, you have access to a defined benefit pension, life insurance, and long-term disability benefits through MOSERS. We also have webinars available for new state employees who would like to learn more about their pension, life insurance, and long-term disability benefits. You can register via GoTo Webinar for a daytime webinar or evening webinar.
In addition to these benefits, you are automatically enrolled in the MO Deferred Comp plan at the minimum of 1% contribution per pay period. Your contribution can be adjusted at any time and is made through automatic payroll deductions. If you choose to opt out of the deferred compensation plan's auto-enrollment, you must do so by adjusting your contribution to zero within 30 days of your hire date. Employees who opt out within this time frame will receive a refund of any contributions they made to their MO Deferred Comp account. Please visit www.modeferredcomp.org for more information, or if you have any questions, please call (800) 392-0925.
-
MSEP 2011 and BackDROP
Aug 22, 2023, 2:01 PM By MOSERSWhy are MSEP 2011 employees not eligible for BackDROP?
All benefit provisions are outlined in law and MOSERS must administer benefits according to the law. In 2010, the Missouri General Assembly made changes to pension plans including the elimination of BackDROP for newer state employees. However, state employees retained the valuable defined benefit plan structure, which provides lifetime retirement benefits. BackDROP is available only to general state employees in MSEP and MSEP 2000. You can track proposed legislative changes on our Legislation page when the General Assembly is in session from January through mid-May.
-
Annual Benefit Statements
Feb 8, 2023, 7:56 AM By MOSERSWhen will the 2022 Annual Benefit Statements be available?
We send Annual Benefit Statements in March to all active members. You can access last year’s statement by logging in to myMOSERS, clicking on Online Documents, and selecting Document Express. It is available to print or save as a PDF. Once all 2023 statements are sent, we will send you an email and you will be able to access this year’s statement by logging in to myMOSERS. If you have opted to receive paper notifications, we will mail your statement to you. Please be sure your email address and mailing address is up to date with us!
Retirees get their Annual Benefit Statement each year on the anniversary of their retirement date or BackDROP date. We send benefit statements to elected officials and members on LTD in July, and we send statements to vested former state employees once every 5 years.
-
MSEP 2011 Seminars
Mar 4, 2022, 3:16 PM By MOSERSI am reaching out about the in-person retirement seminar for 2011 employees. At this time there are only 2, both in Jefferson City. Could there please be some added in other parts of the state? For anyone outside central Missouri this presents difficulties: such as myself it is a 5 hour drive one way. This means a VERY long day (4am-9pm) or missing 1/2 to 1 day work & the cost of a room.You are correct. For MSEP 2011 members we offer two in-person Ready to Retire seminars in Jefferson City. However, we also have two online webinars available this year on May 17th and September 20th. This is a great way to skip the commute and get important benefit information from your home.
You can visit our Ready to Retire page for more information and to learn how to register for a webinar.
-
Unused Sick Leave and the MSEP 2011
Dec 30, 2021, 11:52 AM By MOSERSI am under the MSEP 2011 pension plan. Will my unused sick leave apply towards qualifying service at time of retirement or upon leaving State employment once vested?
A member of MSEP 2011, who leaves state employment after January 1, 2018 but prior to being eligible for early or normal retirement, will get no service credit for unused sick leave. However, a member of MSEP 2011 who remains employed until they reach early or normal retirement eligibility will receive one month of credited service for every 168 hours of unused sick leave.
Unused sick leave cannot be used to determine retirement eligibility – it will not allow you to retire sooner – but it converts to credited service, which can increase your monthly pension benefit.
-
Benefit Formula Breakdown
Dec 16, 2021, 10:16 AM By MOSERSI have a new supervisor and she is curious on how to give staff the correct information about how Moser's comes up with retirement amounts to be paid. Could you send me the information on how this is figured out like a step-by-step so she will be able to answer some of the questions she will be getting? Also, would you send me an e-mail of what & when I need to do as far as my retirement? I believe I can retire Nov. 1, 2023.This is a great question. Below is a breakdown of the benefit formula.
If you are a general state employee (including college and university employees), when you apply for retirement, your monthly base benefit* is calculated using a formula, as defined by law, that takes into account the following factors:
- Final Average Pay (FAP) – The average of your highest 36 consecutive months of compensation
- Multiplier – The multiplier 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)
* Base benefit is the amount before any reductions, taxes, or other deductions.
Examples - Using the multiplier for MSEP 2000 or MSEP 2011 retirees:
$3,000 (FAP) x 0.017 (Multiplier) 15 years (Credited Service) = $765 monthly base benefit
$3,500 (FAP) x 0.017 (Multiplier) 17.5 years (Credited Service) = $1,041.25 monthly base benefit
$4,000 (FAP) x 0.017 (Multiplier) 30 years (Credited Service) = $2,040 monthly base benefit
$_____ (FAP) x ____ (Multiplier) x ____ years (Credited Service) = $_______ monthly base benefit
There is also the Temporary Benefit, which is available if you retire under the "Rule of 80" (MSEP 2000) or the "Rule of 90" (MSEP 2011), and it provides you with an additional benefit until age 62 along with your base benefit. The formula for the Temporary Benefit is: Final Average Pay (FAP) x .008 (Multiplier) x Credited Service. At age 62, it ends but your base benefit continues.
You can log in to myMOSERS to generate a benefit estimate or contact a MOSERS benefit counselor.
Since you are only two years from retirement, we encourage you to attend a Ready to Retire session to learn about the process. Registration is now open for 2022 sessions. Log in to myMOSERS to sign up. You can also contact a MOSERS benefit counselor to make a 1-on-1 appointment. Check out our Ready to Retire page and the Retirement Guide for more information.
-
Authorization to Release Information form
Oct 21, 2021, 11:47 AM By MOSERSWhat is the purpose of the "Authorization to Release Form" ?The Authorization to Release Information form gives us your permission to share or discuss your benefit information with someone else. You may amend or revoke it at any time. You can also set it up to automatically revoke after 90 days. You may submit it at any time by logging in to myMOSERS. During the retirement process, we encourage you to submit this form but it is optional.
Common Reasons to Complete this Form
- Another Person Takes Care of Your Finances - Some members prefer to have a spouse, other family member, advisor, or some other trusted person assume the responsibility for getting information from MOSERS about their benefits either because that person is well versed in such matters or because it is simply easier for that person to understand or get the information in person, over the phone, or via email.
- Housing - If you move, your new housing provider may require proof of your income.
- Military Leave or Other Extended Absence - If you will be away from home for an extended period of time, you may wish to authorize another trusted person to be able to get information from MOSERS on your behalf.
- Change in Marital Status - If you previously completed an Authorization to Release Information form and later get married, divorced, remarried, or have another life event, you may want to consider completing and submitting a new form.
-
Early vs. Normal Retirement
Jul 9, 2021, 11:20 AM By MOSERSI am a member of MSEP 20011. I am currently 60 years old with 9 years of service time. If I leave state employment this year at what age would I be able to start my pension payments? 62? 65? or 67?If you leave state employment this year at age 60 years, 9 months, you will be required to wait and draw your benefit at age 67. In order to be eligible for early retirement, you must reach age 62 prior to leaving state employment. Please note that taking early retirement will reduce your base benefit by ½ of 1% (.005) for each month your age is younger than normal retirement age. Your normal retirement age would be at 67. You can find more information in the MSEP 2011 Handbook.
Topics
- 1099-R (10)
- Annual Leave (3)
- BackDrop (10)
- Board of Trustees (1)
- COLA (14)
- Credited Service (9)
- Death (1)
- Deferred Compensation (5)
- Divorce (1)
- Early Retirement (4)
- Education (7)
- Employee Contributions (13)
- Final Average Pay (8)
- Former State Employee (5)
- Funding (5)
- Leaving State Employment (19)
- Legislation (5)
- Life Insurance (12)
- Long-term Disability (1)
- Medical Insurance (6)
- Military Service (5)
- MSEP (6)
- MSEP 2000 (6)
- MSEP 2011 (12)
- Normal Retirement (22)
- Payday (4)
- Re-employment (16)
- Retirement Process (11)
- Rule of 80 (9)
- Sick Leave (6)
- Taxes (27)
- Temporary Benefit (4)
- Termination (4)
- Travel Assistance (2)
- Universities (3)
- Vesting (4)
Archive
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.