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How Can I Change My Tax Withholding?
Feb 6, 2024, 3:10 PM By MOSERSI may be interested in changing my federal withholding. It's been awhile since I did that, and it appears that I can't change it directly on the website like I did in the past. Is there any way I can see my current withholding status online? I used to be able to do that, but don't seem to be able to now.You may at any time contact a MOSERS benefit specialist at (800) 827-1063 to discuss your current withholding election. Your withholding election may be changed during the year by completing the Tax Withholding Authorization and IRS W-4P forms. You are correct that you used to be able to complete and submit the form online. However, effective January 1, 2023, members are required to use the IRS form rather than the substitute W-4P form we previously had on our website. We are working on programming now that will allow electronic submission later in 2024.Until then, if you need to change the amount of taxes being withheld, please submit both the MOSERS form (Tax Withholding Authorization) and the IRS form (W-4P). You can return the forms to us by:- Faxing them to (573) 632-6103,
- Scanning them and sending them as an attachment via email to mosers@mosers.org,
- Submitting them using the Document Upload feature after you have logged in to myMOSERS
- Depositing them in the drop box outside of our office or bringing them in to the receptionist, or
- Mailing them to us at MOSERS, PO Box 209, Jefferson City, MO 65102-0209
MOSERS staff cannot provide tax advice and cannot advise you on how to fill out tax forms or your tax liability as it pertains to your MOSERS pension. We suggest you contact the IRS and/or a qualified tax advisor to determine your withholding amounts.
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Which Universities are MOSERS Covered Employers?
Feb 6, 2024, 2:20 PM By MOSERSWhat 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.
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2024 Ready to Retire Seminars
Feb 5, 2024, 12:01 PM By MOSERSWhen 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.
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How Can I Get a Copy of My 1099-R?
Jan 18, 2024, 1:20 PM By MOSERSI'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.
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Returning to Work in a Non-Benefit-Eligible Position
Jan 17, 2024, 1:45 PM By MOSERSI 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.
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Am I Eligible for Pre-Tax Medical Premiums in Retirement?
Jan 11, 2024, 11:33 AM By MOSERSWhy 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.
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Can You Continue MO Deferred Comp Contributions in Retirement?
Jan 5, 2024, 2:30 PM By MOSERSCan 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.
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Annual Leave Payout
Jan 2, 2024, 4:12 PM By MOSERSI 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.
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How is the FAP calculated?
Dec 12, 2023, 12:00 AM By MOSERSI 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.
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Why Only 1,040 Hours per Year?
Oct 27, 2023, 8:16 AM By MOSERSI 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.
Topics
- 1099-R (10)
- Annual Leave (3)
- BackDrop (10)
- Board of Trustees (1)
- COLA (14)
- Credited Service (9)
- Death (1)
- Deferred Compensation (5)
- Divorce (1)
- Early Retirement (4)
- Education (7)
- Employee Contributions (13)
- Final Average Pay (8)
- Former State Employee (5)
- Funding (5)
- Leaving State Employment (19)
- Legislation (5)
- Life Insurance (12)
- Long-term Disability (1)
- Medical Insurance (6)
- Military Service (5)
- MSEP (6)
- MSEP 2000 (6)
- MSEP 2011 (12)
- Normal Retirement (22)
- Payday (4)
- Re-employment (16)
- Retirement Process (11)
- Rule of 80 (9)
- Sick Leave (6)
- Taxes (27)
- Temporary Benefit (4)
- Termination (4)
- Travel Assistance (2)
- Universities (3)
- Vesting (4)
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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.