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Aug 30, 2021, 10:07 AM By MOSERSWith the inflation that has occurred in the last year is there any way you can lobby the Governor and Legislators to eliminate state tax on state retirement
If you are a Missouri resident, you may qualify for the Public Pension Exemption. Visit the Missouri Department of Revenue's Public Pension Exemption page or read our Missouri Public Pension Exemption flyer for more information.
In order to be eligible for the full deduction, your Missouri adjusted gross income must fall within certain income limitations. If your income exceeds the limitation, you may qualify for a partial exemption.
Contact the Missouri Department of Revenue to see if you qualify or ask your tax professional.
May 14, 2021, 10:38 AM By MOSERSTurbotax is asking me for "Plan cost at annuity starting date" and I have no idea what this is. Can you help me?
For your MOSERS benefit, "plan cost at annuity starting date" is the total after-tax contributions used to calculate the exclusion amount (amount of your monthly benefit excluded from taxable income). It is important to note that this total doesn’t include your Employee Contributions, as they are paid in pre-tax. However, the total may include any purchases you made with after-tax funds or payroll deductions.
Apr 19, 2021, 8:27 AM By MOSERSI receive pension but i live in Michigan. How do i file taxes if any?
You will need your 1099-R form from MOSERS to file your federal income tax return. You may have already received yours in the mail back in early February. If you prefer an electronic copy of your 1099-R or if you find you need a replacement copy of it, simply log in to myMOSERS and you will find it listed under Personal Information. It is available to print.
If you lived in Missouri at any point during the tax year, you may owe Missouri state taxes, but you may also qualify for the Missouri State Public Pension Exemption. Contact the Missouri Department of Revenue and state tax agency in Michigan for additional information about and to inquire if you will need to file a state tax return in either or both states.
Mar 25, 2021, 10:12 AM By MOSERSIs MOSER retirement considered a public pension for tax purposes?
Yes, that is correct. The benefit you receive through MOSERS is considered a public pension for tax reporting purposes. If you are a Missouri resident, you may qualify for the Public Pension Exemption. Visit the Missouri Department of Revenue's Public Pension Exemption page or read our Missouri Public Pension Exemption flyer for more information. Additionally, you can visit the Taxes page on our website.
Feb 23, 2021, 2:28 PM By MOSERSI am changing my Income Tax filing status from Head of Household to Single; do I need to send in a W-4 to MOSERS for my retirement benefit? If so, where do I send that? I am assuming I need to do both a federal and state form. Thank you!
You can update both your Missouri state and your federal tax withholdings on the Substitute W-4P form and submit it to MOSERS. The fastest, easiest way to submit it is by logging in to myMOSERS. Or, you may send it to us via mail, email, or fax (see our Contact page for details). Please note that the amount of withholdings you elect does not change your tax liability. For additional information, contact the Missouri Department of Revenue.
Feb 19, 2021, 9:17 AM By MOSERS
I have not received my W-2 and would like it emailed to the email address above.
A W-2 form comes from an employer, not from MOSERS.
MOSERS provides you with a 1099-R tax form. We mailed your 1099-R form on January 21. You can also access it online by logging into myMOSERS You will find it under Personal Information and available for you to print. This form lists your 2020 retirement benefit income from MOSERS. You will need this form to file your income tax return. If you receive more than one benefit from MOSERS, you may receive more than one 1099-R from us. If you are unable to log in to myMOSERS, call us at (800) 827-1063 or (573) 632-6100 and we can mail you a replacement. For security reasons, we cannot email it to you.
Feb 5, 2021, 12:03 PM By MOSERSI just retired end of August 2020. I have not seen a 2020 W-2. Do you know who I should reach out to in order to get this? thank you.
Your W-2 form comes from your employer, not from MOSERS. You will need to reach out to your employer for your W-2.
MOSERS does provide you with a 1099-R tax form. We mailed your 1099-R form on January 21. You can also access it online by logging into myMOSERS You will find it under Personal Information and available for you to print. This form lists your 2020 retirement benefit income from MOSERS. You will need this form to file your income tax return. If you receive more than one benefit from MOSERS, you may receive more than one 1099-R from us
Jan 29, 2021, 1:06 PM By MOSERSIn retirement MOSERS can make direct payment to MCHCP to pay for insurance premiums for retired members. Can those payments be pre tax from my pension check?
If applicable, all of the following deductions may be withheld from your MOSERS monthly pension benefit payment but they are all post-tax:
• Missouri income tax as specified on your W-4P (tax withholding form)
• Federal income tax as specified on your W-4P (Without this form, we are required to withhold federal taxes as if you are married claiming three allowances.)
• MOSERS optional life insurance premium
• Aflac insurance premium
• Missouri Consolidated Health Care Plan (MCHCP) premium
• Department of Conservation’s health and life insurance premium(s)
• Miscellaneous deductions such as vision and dental insurance and Missouri State Employees Charitable Campaign (MSECC) contributions
However, information from ASI/MO Café indicates that in the year that you retire, you are entitled to pre-pay for health, dental, and vision coverage through the end of that calendar year. If you can afford to have money deducted from your paycheck before you retire or from any payout for unused annual leave, you can authorize a pre-tax lump-sum insurance deduction. There is also some information about it on MCHCP’s Retirement – State Members page.
Jan 27, 2021, 1:34 PM By MOSERSWhen are we going to know what the cola rate going to be for 2021 ??
The COLA rate for 2021 is 0.987%. We calculate it every year in mid-January. This COLA rate applies to:
- All retired members of MSEP 2000 and MSEP 2011
- MSEP retirees who have reached their 65% COLA cap
- MSEP retirees first employed on or after August 28, 1997
If you were employed before August 28, 1997, and retired under the MSEP, you will get a COLA of at least 4% each year (maximum 5%) until you reach your COLA cap. You reach the COLA cap when the sum of your COLAs equals 65% of your initial base benefit amount. After reaching your COLA cap, your annual COLA will be equal to 80% of the percentage increase in the average Consumer Price Index (CPI) from one year to the next, which, as noted above, is 0.987% for 2021.
The purpose of a COLA for any type of pay or retirement benefit is to help you cope with inflation. COLAs help you maintain your purchasing power as inflation increases the cost of various items you buy. See the article, The 2021 COLA is Here, and the COLA page on our website for more information.
Jan 15, 2021, 10:24 AM By MOSERSi would like to know when i can possibly print out the 1099r for 2020 , when are they coming out
We will mail your 1099-R tax form to you by the end of January. After we have mailed it, it will also be available for you to view and print or save from your Document Express online mailbox after you log in to myMOSERS.
This form lists your 2020 retirement benefit income from MOSERS. You will need this form to file your income tax return. If you receive more than one benefit from MOSERS, you may receive more than one 1099-R from us. For more information please see our latest news item regarding 1099-Rs.
- 1099-R (11)
- Annual Leave (5)
- BackDrop (26)
- Board of Trustees (2)
- Buyout (4)
- COLA (12)
- Credited Service (6)
- Death (7)
- Deferred Compensation (4)
- Divorce (1)
- Early Retirement (10)
- Education (3)
- Employee Contributions (18)
- Final Average Pay (11)
- Former State Employee (2)
- Funding (12)
- Leaving State Employment (12)
- Legislation (8)
- Life Insurance (10)
- Long-term Disability (1)
- Medical Insurance (7)
- Military Service (4)
- MSEP (4)
- MSEP 2000 (6)
- MSEP 2011 (12)
- Normal Retirement (28)
- Payday (3)
- Re-employment (9)
- Retirement Process (7)
- Rule of 80 (9)
- Sick Leave (6)
- Social Security (5)
- Taxes (29)
- Temporary Benefit (1)
- Termination (8)
- Travel Assistance (1)
- Universities (2)
- Vesting (8)
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.