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Feb 5, 2020, 3:15 PM By MOSERSWHEN WILL WE KNOW WHAT THE COLA FOR 2020 WILL BE (RETIREE)
The cost-of-living adjustment (COLA) for 2020 is 1.450%. This 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 28th, 1997
Please see the COLA page on our website for additional information.
Jan 29, 2020, 11:10 AM By MOSERSWhy don’t you put a logout option on every page of your website or a header that gives you that option? I have concerns that my info could be hacked within 15 minutes of me just quitting typing. Thank you.
Thank you for your feedback. It is important to differentiate between the MOSERS public website and myMOSERS. When you are on the public MOSERS site you are not logged in and none of your personal information can be accessed. However, when logging in to myMOSERS, the secure member portal, you will find that there is a logout button in the top right-hand corner of every page within that portal. There are links, that when clicked on, will open a new browser tab to the public MOSERS site, however, this does not compromise your secure myMOSERS login tab, as they are separate. You will still be able to access the open myMOSERS tab as long as it is within the 15 minute automatic logout period. We value our members’ security and always strive to provide a user-friendly, protected, online experience. Thank you again for your concern.
Jan 28, 2020, 8:07 AM By MOSERS
Many employees are staying active employees due to the expense of insurance premiums. Is there any possibility that a vested active 61-year-old employee with 12 years of service could retire and keep their insurance and only pay the current active status rate until they reach 65? Could this be something that could be explored for those that are within 5 years of Social Security?
Thank you for your suggestion. Since your question relates to medical insurance, please contact your medical insurance provider. For most state employees, that is Missouri Consolidated Health Care Plan (MCHCP). If you are employed at a college, university, or the Department of Conservation, contact your human resources/employee benefits office. As a reminder, at MOSERS, we administer retirement, life insurance, and long-term disability benefits, but not medical insurance. We cannot respond to questions about benefits we don’t administer.
Jan 14, 2020, 9:16 AM By MOSERS
Is Rumor Central still an active site? There are no current questions or answers on the site, unless I'm looking in the wrong place.
Thanks for your question – after a brief hiatus for redesign, Rumor Central is back! We just moved Rumor Central to the new MOSERS website. There is now a handy list of topics making it easier to find the information you are seeking. If you don’t find it there, submit your own question. Just click on the orange box in the upper right corner on the Rumor Central page (right above the list of topics). Now that we have gone live with it and the legislative session has started, I’m sure we’ll have many new questions soon.
Also, remember to check our Legislation page during the legislative session for weekly updates, starting at the end of this week.
Jan 14, 2020, 8:40 AM By MOSERS
When will our tax forms be ready to view on website?
We will mail 1099-R tax forms to all benefit recipients by January 31 and will post information to the News section of our website once they have all been mailed. You will be able to access your 1099-R through myMOSERS after they have been mailed.
Jun 10, 2019, 1:20 PM By MOSERS
I saw a brief note on local news that Gov. Parsons had signed a bill related to feral hogs and pension plans. Assuming this was some type of omnibus bill, can you provide information about any impacts on state pensions?
On June 6th, Governor Parson signed a variety of bills that cover many different subject areas. (View the news release on bills the Governor signed.)
The bill he signed affecting MOSERS is SB 185. This act provides continued eligibility for membership in MOSERS for employees of the Missouri Housing Development Commission and of the Environmental Improvement & Energy Resources Authority. There are no other changes to retirement provisions affecting any other members or retirees.
The bill about feral hogs is separate legislation; it is HB 655.
Apr 16, 2019, 3:16 PM By MOSERS
If I pass away and I am vested with the state for 14 yrs, can my spouse get my state retirement; in addition, can she draw off her state retirement while drawing off my state retirement? In other words, can she draw off both retirements?
Yes – Let’s look at different scenarios.
Death Before Retirement:
As a married, vested member, if you die before you retire and while still employed, your eligible spouse will receive your MOSERS survivor benefits. When she retires, she can draw her own MOSERS pension and the two will have no impact on each other. (The rules are not the same for Social Security benefits. Consult the SSA for more information on their rules about spouse benefits.)
Death After Retirement:
When each of you retire, you will choose a benefit payment option. Options include: Life Income Annuity, Joint & Survivor options, and Guaranteed Payment options.
If you elect the Life Income Annuity option, your retirement benefit will not be reduced for the purpose of providing a survivor benefit. Your final payment will be sent to your designated beneficiary. Then, there will be no ongoing monthly survivor benefits payable to anyone after your death.
Since you are married, you may elect the Joint & 50% Survivor or the Joint & 100% Survivor option. Each provides a lifetime benefit to you. If you die first, your spouse will receive a lifetime benefit for the remainder of her life. Your benefit will be reduced to provide this benefit*. Your spouse can receive your survivor benefit even if she is receiving her own MOSERS pension.
If you elect a Guaranteed Payment option, you may name anyone as your beneficiary (does not have to be your spouse but she would have to waive her spouse benefit). Your retirement benefit will be reduced and if you die before all of the guaranteed payments have been made, the remaining payments will go to the beneficiary you designated at retirement.
For more information, please review the death of a member section of our website. You can read more about benefit payment options in the Retirement Guide on our website in the Ready to Retire section. If you would like more information specific to your situation, contact a MOSERS benefit counselor. They can answer questions over the phone, or you can set up an in-person appointment.
*There is no reduction for members who retire under the MSEP and elect the Joint and 50% survivor option.
Apr 12, 2019, 9:33 AM By MOSERS
Will the raise that we are suppose to get in 2020 effect my retirement? If I am already on my BackDROP and if I retire in dec of 2021.
Assuming the pay raise is included in the final state budget and goes into effect in January 2020, if you continue working and do not take BackDROP, the impact of a pay increase on your monthly retirement benefit payment would be dependent upon how long you continue working.
Remember, in calculating your monthly benefit, one factor is your Final Average Pay, which is your highest 36 consecutive months of pay. So, if you got a raise and worked a few months past January 2020, the impact may be very small. If you got a raise and worked an additional 36 months, the impact would be bigger.
Any pay earned during your BackDROP period has no impact on either your monthly benefit amount or your BackDROP lump-sum amount. If you are eligible for and elect the BackDROP upon retirement, your FAP will be calculated using your MOSERS-covered work history prior to your BackDROP date. In other words, pay (and service) during the BackDROP period is excluded when calculating your monthly benefit amount.
But, after you retire, keep mind that MOSERS retirees receive an annual cost-of-living adjustment (COLA) of 0-5%. This amount is calculated each January and is based on the CPI (Consumer Price Index), which is unrelated to any pay raises state employees receive. You can find more information about the retiree COLAs on our website.
You can run benefit estimates under a variety of scenarios by logging in to myMOSERS or asking a MOSERS benefit counselor to run them for you. You may find our Creating a Benefit Estimate video and our Comparison Calculator helpful in weighing your options.
Apr 10, 2019, 3:05 PM By MOSERS
My age is 58 and i have worked for the state 20 years. My question is if i died before i retired well my spouse receive my pension? My normal retirement is 1/1/2020.
Yes, if you are an active general state employee, married, vested in MOSERS, and die before you retire with MOSERS, your eligible surviving spouse will receive survivor benefits. If you have no surviving spouse, we will pay survivor benefits to your natural or legally adopted child(ren) younger than age 21. If you die without any eligible beneficiaries, no survivor benefits will be paid. These benefits would be payable in the month following your death.
The monthly benefit for your spouse will be based on the benefit you have accrued as of your date of death. We will calculate it according to the Joint & 100% Survivor Option. We will pay monthly survivor benefits for the remainder of your spouse's lifetime. You can find information on our website regarding reporting the death of a member. Survivors should contact a MOSERS benefit counselor for guidance through the process.
An exception to this: The “immediate” survivor benefit provision is not available for terminated-vested members of MSEP 2011 employed on or after January 1, 2018. This change was in SB62 during the 2017 legislative session. It is a cost offset for the reduction in the vesting requirement from 10 years to 5 years for members of MSEP 2011. Eligible survivors of such members will begin receiving benefits when the deceased member would have attained normal retirement age.
Members often have similar questions about death AFTER retirement. A key feature of your MOSERS defined benefit (DB) pension plan is that it can provide financial security for your eligible survivor(s) as well. During the retirement process, you will make elections to determine if any potential survivor benefits will be paid to anyone after your death or not – to a spouse if you are married, or, potentially, to another beneficiary.
Mar 19, 2019, 4:03 PM By MOSERS
Is MOSERS a public or private pension plan?
MOSERS is a public defined benefit (DB) pension plan so the benefit you receive through MOSERS is considered a public pension. As long as you reside in Missouri, your retirement benefits are subject to Missouri state income tax and federal tax. You may also be interested in information we have posted about the Missouri state tax Public Pension Exemption.
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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.