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Aug 7, 2020, 3:35 PM By MOSERSMy friend found it very beneficial to meet with a MOSERS representative before she retired. I trying to decide when to retire and which plan to use. Are you still making in-person appointments? Can an appointment be done in zoom?Yes, we offer online counseling sessions. Check out our article on how to schedule a Virtual Benefit Counseling session!
May 4, 2020, 9:24 AM By MOSERSWhen will the 2020 Annual Benefit Statement be available or did I miss it?In early March, we were able to get Annual Benefit Statements sent out to our members who work for the Department of Conservation or for a state university. Unfortunately, due to the pandemic, we had to postpone sending them to other members. However, we plan to start producing statements again late next week. All active members should receive their 2020 Annual Benefit Statements by mid-May. Please watch for an email from us letting you know you have something in your Document Express online mailbox.
May 1, 2020, 1:07 PM By MOSERS
We have received many questions regarding this topic and have posted them below.
I am a state employee with nearly 21 years of service with approximately 7 years remaining, with this unprecedented damage to the economy and the likely subsequent budget shortfalls is there currently any consideration for incentives or might there be for current state employees to leave service early? I wasn’t sure whom to direct this question to but thought it might be within your sections purview.
Due to the COVID-19 pandemic, revenues have fallen and the State Legislature is looking for ways to trim the State budget. One such way is to reduce the number of State employees. Has there been suggestions to incentivize eligible state employees to retire by offering to pay health insurance at the active employee rate until they reach Medicare eligibility?
I have heard there is going to be another buyout/early retirement package offered like there was a number of years ago to help with the state's budget shortfall due to COVID-19. Any truth to that?
During the Governor's press conference he mentioned the possibility of offering an early retirement incentive as part of the effort to balance the budget. Is there any information available on this yet?
An early retirement incentive and/or another buyout would require legislative authorization. We are not aware of any legislative proposals that have been offered at this time to provide either for general state employees. You can follow any bills affecting MOSERS on our Legislation page. May 15, 2020 is the last day of the current legislative session.
Mar 31, 2020, 12:01 PM By MOSERSI am retiring effective 04-01-20. How do I change my Mosers contact information to my home email?
You can change your email address by logging into myMOSERS. Select Personal Information then click Update your Personal Information. Please note that updates to email addresses become effective by the next working day. You are also able to make changes to your mailing address and phone number(s). If you wish, you may choose a future date (up to 3 months ) for other changes to become effective. If you are unable to do so online, please contact one of our benefit counselors who would be happy to assist you.
Mar 17, 2020, 4:16 PM By MOSERS
I am in MSEP11 and have vested. I may leave service at 65, but not retire until my normal retire age of 67. Will I still receive a reduced benefit?
No, your benefit will not be subject to reduction if you are vested, leave service, then retire at age 67. (The reduction you are referring to is for “early retirement” and is a reduction of ½ of 1% (.005) off your base benefit for each month your age is younger than normal retirement.)
However, if you continue working until you are 67, then your benefit would ultimately be higher because you would have more service. When you apply for retirement, your base benefit will be calculated using a formula that takes into account your final average pay and your credited service. For a more in-depth look at which option may be best for you, we encourage you to use our Comparison Calculator to compare various scenarios over time or contact one of our benefit counselors.
Benefit counselors are available:
Monday - Friday
8:00 am - 12:00 pm
1:00 pm - 4:30 pm
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.
May 31, 2018, 11:33 AM By MOSERS
Correction Officers have been hearing that the State of Missiouri Retirement System is bringing back the "80 and out" rule or 80/80 and the Employee is vested after 5 years of service?
For members of MSEP 2011 who are actively employed on or after 1/1/2018, yes, the vesting requirement did change to 5 years, effective 1/1/2018. This change was part of Senate Bill 62, which was passed during the 2017 legislative session. The changes were summarized on our legislative page.
However, requirements for retirement eligibility were not changed. Members of MSEP 2011 reach normal retirement eligibility when they have at least 5 years of service and are age 67 or under the “Rule of 90”. Under the “Rule of 90”, they must be at least age 55 and their age plus years of service equal 90 or more. For example, if someone is age 60 and has 30 years of service, they would meet the Rule of 90.
Not sure if you are in MSEP, MSEP 2000, or MSEP 2011? See What’s My Plan? (bottom of the MOSERS website homepage) with information about plan membership, retirement eligibility requirements, and other plan provisions.
May 29, 2018, 4:00 PM By MOSERS
I was hearing that there may be a 70 & out for one to retire from Corrections? Is this true or another rumor....
No, this is not true. MOSERS administers retirement benefits but we do not have the authority to change plan provisions. Any change to the Rule of 80/”80 & Out” (or any other state employee pension provisions) would require a change in the law. The 2018 regular legislative session ended on May 18th and there were no such proposed changes. Keep in mind that the Rule of 80/”80 & Out” is not the only way to reach normal retirement eligibility.
General state employees become eligible for normal retirement once they meet one of the following sets of age and service criteria:MSEP Members
- Age 65 + 5 years of service
- Age 60 + 15 years of service
- “Rule of 80” – (at least age 48) when age + years of service = 80 or more.
- Age 62 + 5 years of service
- “Rule of 80” – (at least age 48) when age + years of service = 80 or more
- Age 67 + 5 years of service
- “Rule of 90” – (at least age 55) when age + years of service = 90 or more at time of termination
See What’s My Plan?(bottom of the MOSERS website homepage) with information about plan membership, retirement eligibility requirements, and other plan provisions.
Mar 26, 2018, 8:42 AM By MOSERS
What happens if I leave state employment prior to my eligible retirement date under the Rule of 80? How is my monthly retirement benefit calculated if that happens, and when will I first be eligible to begin receiving my retirement benefit? Also, under this scenario, what retirement benefits, if any, would I lose if I left state employment prior to my Rule of 80 date?
If you are vested with MOSERS (you have at least 5 years of service*) and then leave state employment, you will be eligible for a lifetime monthly benefit, which will begin once you meet the age requirement (and all other legal requirements) and retire under a MOSERS defined benefit pension plan.
If you are a general state employee, your retirement benefit is calculated using a three-part formula:
Final Average Pay (FAP) x Credited Service x Multiplier = Monthly Base Benefit
(The multiplier is determined by your plan; 1.6% for MSEP; 1.7% for MSEP 2000/MSEP 2011.)
General state employees who are in the MSEP are eligible for normal retirement once they meet one of the following sets of age and service criteria:
- Age 65 + 5 years of service
- Age 60 + 15 years of service
- “Rule of 80” – (at least age 48) Age + years of service = 80 or more.
See What’s My Plan? (bottom of the MOSERS website homepage) with information about plan membership, retirement eligibility requirements, and other plan provisions.
If you are a member of MSEP and you leave state employment before reaching normal retirement eligibility, you may still retire under “80 & Out” (the Rule of 80). Plan provisions in MSEP allow members who terminate employment to “age into” the Rule of 80. (This does NOT apply to members of MSEP 2000 or MSEP 2011**.) However, keep in mind that leaving state employment before reaching eligibility will likely delay when you reach “80 & Out” and reduce your benefit because you will no longer be accruing service. So, you may have to wait longer to begin receiving a smaller benefit if you leave state employment prior to reaching the Rule of 80.
Keep in mind any of the following may affect your retirement eligibility: your retirement plan (MSEP, MSEP 2011, etc.), age, service, and if you retire directly from active employment versus leaving state government and waiting to retire. Contact a MOSERS benefit counselor to discuss your specific situation. You may also contact a MOSERS benefit counselor to request benefit estimates for various scenarios (including a scenario of leaving employment prior to retirement eligibility).
*The 5-year vesting for MSEP 2011 member went into effect on 1/1/2018, and MSEP 2011 members must be actively employed on or after 1/1/2018 to be covered by this change.
**Plan provisions for MSEP 2000 do not allow members to “age into” the Rule of 80/80 & Out. Plan provisions for MSEP 2011, do not allow members to “age into” the Rule of 90/90 & Out.
Mar 14, 2018, 8:31 AM By MOSERS
Vesting is changed to 5 years, so why is the monthly benefit not payable until 10 years? If I were to retire after 8 years, would I receive a lump sum payout of my contributions plus any amount vested by the plan, or would the benefit be deferred until after 10 years?
Vesting is one part of retirement eligibility. The other part is age. Both vesting and age requirements must be met in order to retire under a MOSERS defined benefit plan. As a member of MSEP 2011, you will become eligible for normal retirement when you have at least 5 years of service and reach age 67 OR under the “Rule of 90” which is when you are at least age 55 and your age plus service equals 90 prior to you leaving state employment.
Once you are vested with MOSERS, even if you leave state employment, you will be eligible for lifetime monthly benefit payments once you also meet the age requirement (and any other legal requirements) and retire under a MOSERS defined benefit pension plan. The 5-year vesting for MSEP 2011 members went into effect on 1/1/2018 and MSEP 2011 members must be actively employed on or after 1/1/2018 to be covered by this change.
Your contributions go toward helping pay for your future lifetime monthly benefit payments. You will receive a lump-sum payment only if you request a refund of your employee contributions. By taking a refund, your forfeit all your credited service. If you are vested and take a refund, you give up your future lifetime monthly benefit payments.
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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.