Yes, in most cases, you can designate multiple beneficiaries on your MOSERS benefits. The number of beneficiaries you can name depends on the specific type of benefit. Here's a quick breakdown:

• Life Insurance Beneficiaries – You may name multiple primary and contingent beneficiaries for both your basic and optional life insurance coverage.
• Final Payment Beneficiaries – Once you retire, you can list multiple individuals to receive your final benefit payment. MOSERS will pay your beneficiaries if that payment is returned to MOSERS by your financial institution. The final payment is the payment that is due to you at the end of the month in which you pass away.
• Guaranteed Payment Option Beneficiaries – At retirement, if you elect a guaranteed payment option (5, 10, or 15 years), you may name multiple beneficiaries to receive any remaining payments if you pass away during the guarantee period.
• Joint & Survivor Beneficiary – At retirement, if you elect a Joint & 50% or Joint & 100% survivor benefit, your beneficiary is automatically your spouse.
• Contribution Beneficiaries (MSEP 2011 and Judicial Plan 2011 only) – If you are a member of MSEP 2011 or the Judicial Plan 2011 and are eligible for a refund of your contributions (in the event of death before retirement), you may name multiple beneficiaries to receive those funds.

If you’re unsure which beneficiaries you currently have listed or would like to update your designations, log in to myMOSERS to review or make changes. If you have an account with MO Deferred Comp, please ensure your beneficiary designations are up to date there as well.

If you are vested and leave state employment, you will still be eligible for a future pension benefit when you reach retirement age. A termination, whether voluntary or involuntary, marks the end of service accrual and impacts your MOSERS benefits.

Exceptions apply: You will forfeit all rights to a future pension benefit if you take a refund of your employee contributions (MSEP 2011 or Judicial Plan 2011) after leaving state employment or if you are convicted of a felony in connection with your duties as a state employee on or after August 28, 2014.

Retirement eligibility depends on your plan and is based on a combination of your age and service. Once MOSERS is notified of your termination, we will send you a letter outlining your eligibility for benefits.

Normal Retirement Eligibility Requirements:

• Age 65 + 5 years of service or
• Age 60 + 15 years of service or
• Rule of 80 – (at least age 48) when age + years of service = 80 or more

• Age 62 + 5 years of service or
• Rule of 80 – (at least age 48) when age + years of service = 80 or more at the time of termination

• Age 67 + 5 years of service or
• Rule of 90 – (at least age 55) when age + years of service = 90 or more at the time of termination

See the What’s My Plan? tool for information about plan membership, retirement eligibility requirements, and more!

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.