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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? 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? 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? 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.
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.
Jan 4, 2018, 10:00 AM By MOSERS
I know that the 10 years vested has been reversed back to 5 years, however I'm inquiring where the process is with going back to 80 & out vs. 90 & out. Is this still on the table?
We are not aware of any plans to change retirement eligibility requirements.
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.
Members of MSEP 2011* will become eligible for normal retirement when they reach age 67 and have at least 5 years of service OR under the “Rule of 90,” which is when they are at least age 55 and their age and service equals 90 prior to leaving state employment.
The 2018 legislative session began January 3 and will end on May 18th. We do not know what might happen with individual bills during the legislative session, but we will monitor all legislation impacting MOSERS and inform our members of any changes that become law.
*Members of MSEP 2011 are those who were first employed in a MOSERS benefit-eligible position on or after January 1, 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.