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Oct 18, 2021, 9:41 AM By MOSERSI need to change my name - I got married. How do I do so? Thanks!!
If you are currently an active state employee, you do not have to provide any documentation for these changes. Just contact a MOSERS benefit counselor at (800) 827-1063 or (573) 632-6100 so that they can verify your identity and update your name in our system.
However, any member who is currently receiving a pension benefit of any kind or who is an inactive-vested member must submit proof to change their name or marital status.
Proof of name change is also required:
- For any member when applying for retirement or after retirement if the name or information provided on the retirement application or other form differs from our records.
- For any member when applying for a refund of employee contributions.
- For any beneficiary applying for survivor or remaining guaranteed payments.
We accept documents of proof in the format of photo or electronic copy. You can mail, e-mail, upload through myMOSERS account, or fax them to us.
Oct 13, 2021, 3:55 PM By MOSERSHow can I change the amount of optional life insurance from $40,00 to $20,000? The premium has raised a lot for $40,000. Thanks
When you move into a new age bracket, the premiums go up. To decrease your optional life insurance, please complete an Enrollment/Change - Optional Life Insurance form and submit it to MOSERS. You can complete the form and submit it electronically by logging in to myMOSERS This can be done any time throughout the year. Remember, to be eligible for future annual review periods, you must maintain at least $10,000 of optional life insurance coverage.
Oct 13, 2021, 1:16 PM By MOSERSCould you give an example of the impact this change has? .... Following an in-depth presentation from our independent external actuary, the MOSERS Board certified the MSEP employer contribution rate for FY23 at 26.33% of payroll beginning July 1, 2022. The employer contribution rate is the percent of pay that a MOSERS-covered employer contributes every pay period to properly fund the retirement plan. The funded ratio of the plan was calculated at 59%. You may ask, "Why is the funded ratio 59%"?
Any change in the employer contribution rate does not impact retiree benefits. As compared to last year, the employer contribution rate certified this year by the MOSERS Board of Trustees represents a higher contribution for one year of service for active members and one year of payment on the plan’s unfunded actuarial accrued liability.
System funding comes from three sources:
- investment income,
- employer contributions, and
- employee contributions (from those first employed on or after January 1, 2011).
For more information on MOSERS’ Employer Contribution Rate, please see the Employer Contribution Rate infographic or feel free to contact us if you have further questions.
Oct 11, 2021, 11:33 AM By MOSERSPlease send me paper notices about Mosers in the future rather than emails.If you would like to change your email preferences, please log in to myMOSERS. After logging in, select Personal Information then Email Options. From there you can opt-out of receiving email updates. If you are unable to log in, please contact a MOSERS benefit counselor who will be happy to help you.
Sep 24, 2021, 2:24 PM By MOSERS
Hello. If I change employment from one state agency to another does my retirement stay the same?
It depends on where you transfer to. If you are transferring from a benefit-eligible position with one MOSERS-covered employer to a benefit-eligible position with another MOSERS-covered employer, then yes, your retirement date would stay the same, as long as you don’t have a break in service. This is a nice advantage of working for the state since it gives you so many options.
If you move to an employer not covered by MOSERS, then you still may be able to transfer service credit but you would need to ask that employer and/or retirement system to determine if your retirement eligibility date will change. For example, the Missouri Department of Transportation is covered under MPERS not MOSERS. If you went to work for a public school system, it may be covered by PSRS/PEERS. This is an important question to get answered before you make your decision to transfer or not.
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.
Aug 26, 2021, 11:09 AM By MOSERSIf I were to leave this position, and go to work for the school system, will my retirement time still be the same?It sounds like you are referring to a position covered by the Public School Retirement System/Public Education Employees Retirement System (PSRS/PEERS). You can find retirement eligibility information (age and service requirements) for those systems on the PSRS/PEERS website.
A vested member of MOSERS who later takes a job covered by PSRS/PEERS may elect to transfer their service. This transfer is not a day-for-day transfer. The transferring system sends the actuarial value of the member’s service to the other system, which then converts that value to service. Members may purchase any remaining service not covered by the transfer at full actuarial cost.
There are a variety of provisions that may allow employees to purchase or transfer service between MOSERS and another public retirement plan in Missouri. You are not required to purchase or transfer service if you move from one retirement system to another. You can potentially earn retirement benefits from more than one system.
Depending on your plan, see either the Purchasing and Transferring Service Credit brochure (MSEP & MSEP 2000) or the Purchasing and Transferring Service Credit brochure (MSEP 2011), or contact a MOSERS benefit counselor for more information about your individual situation.
Aug 19, 2021, 9:37 AM By MOSERSI need help changing my online banking information for direct deposit. I had to close my current account and open a new one because of fraud concerns.
If you want to update your direct deposit information, just log in to myMOSERS. Once logged in, click Forms, then select Direct Deposit. From there you can begin to fill out and complete the Direct Deposit Authorization form online or you can mail it to MOSERS. Or feel free to come by and place it in our drop box out front at any time.
Aug 19, 2021, 9:36 AM By MOSERSAfter retirement am I still able to purchase Optional Life Insurance coverage?
No, you cannot increase your coverage after retirement. If you retire within 60 days of leaving employment, you can retain your coverage in retirement up to $60,000. However, you may retain all of your optional coverage until age 62 if you are a general state employee who retired under the “Rule of 80” (MSEP 2000) or the “Rule of 90” (MSEP 2011). At age 62, your coverage will automatically reduce to a maximum of $60,000.
To keep your optional coverage, you must submit the Retain/Change Optional Life Insurance form (available at myMOSERS. Use the same form to reduce or terminate your coverage at any time.
Please note that once you terminate coverage, it cannot be reinstated. You have 60 days from your retirement date to port or convert your remaining optional life insurance through The Standard.
Use the Optional Life Insurance Calculator to determine your monthly premium.
For more information please see our Life Insurance page.
Aug 17, 2021, 9:43 AM By MOSERSThe SSA is anticipating the largest COLA increase of the last 40 years at around 6% for 2022. Does this mean that MOSERS retirees can anticipate something close to the maximum COLA increase for MOSERS members for 2022 of 5%?
We are unable to provide the 2022 COLA at this time, typically you can expect to see it by the end of January. For general state employees, COLAs are based on 80% of the percentage increase in the average Consumer Price Index (CPI) from one year to the next. The maximum increase is 5% (minimum 0%).
We calculate COLAs based on the CPI-U, the Consumer Price Index for Urban Consumers. To learn more, review the Consumer Price Index Frequently Asked Questions on the Bureau of Labor Statistics website.
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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.