rumor-central-header

Hearing Rumors? Not sure your co-worker has it right?

Rumor Central has the answers! Submit your question or just browse our blog to separate facts from fiction.

Subscribe to Rumor Central

Subscribe to receive a monthly email that includes answers to recent Rumor Central questions.

Log in to myMOSERS. Click on Personal Information, then on Email Options. Check the box next to Rumor Central. 

  • Which Universities are MOSERS Covered Employers?

    Feb 6, 2024, 2:20 PM By MOSERS
    What universities in Missouri do you serve?
    MOSERS administers retirement benefits (defined benefit pension and deferred compensation plans) for benefit-eligible employees of the following universities. 
     
    • Harris-Stowe State University
    • Lincoln University
    • Missouri Southern State University
    • Missouri State University
    • Missouri Western State University
    • Northwest Missouri State University
    • Southeast Missouri State University
    • Truman State University
    • University of Central Missouri
     
    We administer retirement benefits, life insurance, and long-term disability insurance for benefit-eligible employees of State Technical College of Missouri. 
     
    We do not administer life insurance or long-term disability benefits for university employees, except for eligible employees of Lincoln University. 
     
    See our list of MOSERS Covered Employers and our Benefit Providers flyer for more information.
    Print Friendly and PDF

  • 2024 Ready to Retire Seminars

    Feb 5, 2024, 12:01 PM By MOSERS
    When is the next retirement seminar?
    Visit our Education page and click in the Ready to Retire box to view all the 2024 in-person retirement seminars and online webinars that are available statewide. If you have co-workers at other career stages, please encourage them to check out the Newer Employees & MOSERS and the Mid-Career webinars.

    To register for a session, log in to myMOSERS and go to Education Enrollment. Once you've reviewed the schedule, select the session you wish to attend and complete the registration information.
     
    Print Friendly and PDF

  • How Can I Get a Copy of My 1099-R?

    Jan 18, 2024, 1:20 PM By MOSERS
    I'm trying to get a copy of my 1099-R and all I see is 2022 1099-R. Can you help me?
    MOSERS will mail 1099-R forms to all retirees and beneficiaries by January 31, 2024. If you prefer an electronic copy of your 1099-R, the form will be available for you to view or print after they have been mailed. You can access your 1099-R by logging in to myMOSERS and you will find it listed under Personal Information.

    This form lists your 2023 pension benefit income from MOSERS. You will need this form to file your income tax return.
    Print Friendly and PDF

  • Returning to Work in a Non-Benefit-Eligible Position

    Jan 17, 2024, 1:45 PM By MOSERS
    I retired by Missouri state government in 2012 and am currently receiving monthly retirement benefits. I am currently working part-time (in a non-benefit eligible position) at Lincoln University, which participates in the MOSERS retirement system. My question is: I've been employed by Lincoln for several years and have been told that in order to keep receiving my monthly benefits, I can only work 1040 hours per calendar year. Is this still a MOSERS policy?
    MOSERS must administer the retirement plans according to applicable state and federal laws. It is the responsibility of your employer, not MOSERS, to determine if the position you are working in is a MOSERS benefit-eligible position. Generally speaking, an employee must work in a position normally requiring at least 1,040 hours per year to qualify for MOSERS benefits. If your employer determines that the position you are working in is not benefit-eligible and you have followed the termination and reemployment rules, you may work in that position and still get your MOSERS pension benefits. Please see Working After Retirement and Benefit Eligibility for more information.
    Print Friendly and PDF

  • Am I Eligible for Pre-Tax Medical Premiums in Retirement?

    Jan 11, 2024, 11:33 AM By MOSERS
    Why are retirees not eligible for pre-tax of medical premiums?
    MOSERS cannot withhold medical premiums for retirees on a pre-tax basis because to be pre-tax, they must go through the cafeteria plan. Contributions to the cafeteria plan may only be from active employee wages. Cafeteria Plan guidelines state that only active employees are eligible for the plan.
    Print Friendly and PDF

  • Can You Continue MO Deferred Comp Contributions in Retirement?

    Jan 5, 2024, 2:30 PM By MOSERS
    Can you continue to make payroll deducted contributions to a deferred comp account after retirement?

    No. Once you leave state employment – for retirement or any other reason – you can no longer make contributions to the MO Deferred Comp Plan. You can keep the money you saved throughout your career with the state in deferred comp after you separate from service. By doing so, you can continue to utilize all the unique features the plan has to offer, such as:

    • Access to MO Deferred Comp’s custom, low-cost investment options.
    • The ability to roll-in and consolidate retirement savings plans from previous employers.
    • Withdraw your 457 contributory source funds, penalty-free, after you leave state employment.
    • Enjoy easy and flexible withdrawals in retirement.
    • Individualized help from the plan’s financial education professionals.
     
    If you return to full-time or part-time state employment, you can once again contribute to the MO Deferred Comp Plan. In this case, your contributions will start again at what was previously on file with the plan.
    Print Friendly and PDF

  • Annual Leave Payout

    Jan 2, 2024, 4:12 PM By MOSERS
    I plan on retiring in two years and will have annual leave to be paid out. Will it be paid out on my final paycheck, or will I have to wait for it?
    The amount of your unused annual leave/vacation has no impact on your MOSERS pension benefits. Each agency may have different policies related to annual leave final payouts. We recommend that you inquire with your agency’s human resources office about their employee policies and guidelines for annual leave payouts before retirement.
    Print Friendly and PDF

  • How is the FAP calculated?

    Dec 12, 2023, 12:00 AM By MOSERS
    I understand that a person's retirement is based on the FAP of their three highest years worked. If a person retires in the middle of the year, is the FAP figure for fiscal year, or from date of retirement?

    When you retire, you will get a monthly pension benefit for life. Your base benefit is calculated using a formula, as defined by law, using the following factors:

    • Final Average Pay (FAP) – The average of your highest 36 consecutive months of pay
    • Multiplier – A number established by the legislature
    • Credited Service – Your years and months of credited service earned, purchased, or transferred, and unused sick leave (if applicable)


    (Base benefit is the amount before any reductions, taxes, or other deductions.)

    To answer your question specifically, the FAP is based on the highest 36 consecutive months in your pay history, not on fiscal years. For most people that ends up being at the end of their state service, but not always.  

    This does not apply to members who elect BackDROP at retirement. To be eligible for BackDROP, you must continue working in a MOSERS benefit-eligible position for at least two years beyond your normal retirement eligibility. If you elect BackDROP at retirement, any pay earned during the BackDROP period does not count in your “high 36”. BackDROP is available only to eligible general state employees in MSEP or MSEP 2000.
    Print Friendly and PDF

  • Why Only 1,040 Hours per Year?

    Oct 27, 2023, 8:16 AM By MOSERS
    I was wondering why retired state employees are only allowed to work 1040 hours per year. Is this something that can be changed? I think if that number was changed to where retired employees could work 3 days or so a week you would get more to participate. And with the shortage that DOC is going through right now finding good dependable employees I believe this could only help. Thank You for your assistance. Full disclosure I am currently working for DOC part time.

    MOSERS must administer the retirement plans according to applicable state and federal laws. With respect to retiree reemployment, state law generally requires payments to be paused when a retiree returns to employment:

    "Employee" shall be any person who is employed by a department and is paid a salary or wage by a department in a position normally requiring the performance of duties of not less than one thousand forty hours per year. RSMo 104.1003.1(13).

    If a retiree is employed as an employee by a department, the retiree shall not receive an annuity payment for any calendar month in which the retiree is so employed . . . . RSMo 104.1039.

    In other words, as long as a retiree does not work more than an average of 2-1/2 days per week (which would mean working fewer than 1,040 hours per year), the retiree will continue to receive retirement benefits.
    Print Friendly and PDF

  • Temporary benefit & early retirement

    Oct 24, 2023, 2:31 PM By MOSERS
    Is the temporary benefit available under early retirement or strictly rule of 80?

    No, the temporary benefit is not available to those who elect early retirement. You will receive a temporary benefit only if you are a general state employee who is younger than the age of 62 and you retire under normal retirement with the MSEP 2000 (“Rule of 80”) or MSEP 2011 (“Rule of 90”).

    If you retire under the "Rule of 80" (MSEP 2000) or the "Rule of 90" (MSEP 2011), in addition to your base benefit, the temporary benefit provides you with an additional benefit until age 62. The formula for the temporary benefit is: Final Average Pay (FAP) x .008 (Multiplier) x Credited Service = Temporary Benefit. At age 62, the temporary benefit ends but your base benefit continues.

    Print Friendly and PDF

Topics

Archive

Disclaimer

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.