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  • Ex Spouses and Pension Benefits

    Dec 21, 2021, 4:10 PM By MOSERS
    If my ex spouse remarried before I receive benefits do they still get half? 

    Yes, pension benefit payments to your ex-spouse will commence when you begin receiving benefits from MOSERS in accordance with applicable statutes and the Division of Benefits Order(DBO) we have on file for you. Re-marriage of your ex-spouse does not affect their eligibility to receive their portion of your benefit. Upon either your death or the death of your ex-spouse, the DBO will automatically terminate.

    See the Divorce and Your Pension Benefit brochure for more information. 

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  • COLA for Retirees

    Dec 17, 2021, 3:56 PM By MOSERS
    If I retire in August of 2022 will I get that years cola.

    A general state employee who retires directly from active service will receive their first COLA on the anniversary month of their retirement. So, if you retire in August of 2022, you will receive your first COLA in August of 2023. The amount of the COLA for the calendar year is calculated each year in January.  

    COLAs are payable on the anniversary of your retirement date except for:

    • Retirees who converted from MSEP to MSEP 2000 during the conversion window in 2000 will have COLAs payable in July.
    • Retirees who elected a BackDROP will have COLAs payable on the anniversary of their BackDROP date.
    • Terminated-vested members of the MSEP 2011 will receive their first COLA on the second anniversary of their retirement (rather than the first anniversary).

    We will send you a notice, either in the mail or in your MOSERS Document Express online mailbox, during the month when you get your COLA.

    *If you retired under MSEP, and were hired before August 28, 1997, your COLA may be different. See “What is the COLA cap?”

    Please see the COLA page on our website for additional information.

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  • Benefit Formula Breakdown

    Dec 16, 2021, 10:16 AM By MOSERS
    I have a new supervisor and she is curious on how to give staff the correct information about how Moser's comes up with retirement amounts to be paid. Could you send me the information on how this is figured out like a step-by-step so she will be able to answer some of the questions she will be getting? Also, would you send me an e-mail of what & when I need to do as far as my retirement? I believe I can retire Nov. 1, 2023.

    This is a great question. Below is a breakdown of the benefit formula.

    If you are a general state employee (including college and university employees), when you apply for retirement, your monthly base benefit* is calculated using a formula, as defined by law, that takes into account the following factors:

    • Final Average Pay (FAP) – The average of your highest 36 consecutive months of compensation
    • Multiplier – The multiplier established by the legislature (1.6% or 0.016 for MSEP; 1.7% or 0.017 for MSEP 2000 and MSEP 2011)
    • 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.

    Examples - Using the multiplier for MSEP 2000 or MSEP 2011 retirees:

    $3,000 (FAP)   x   0.017 (Multiplier) 15 years (Credited Service)   =   $765 monthly base benefit

    $3,500 (FAP)   x   0.017 (Multiplier) 17.5 years (Credited Service)   =   $1,041.25 monthly base benefit

    $4,000 (FAP)   x   0.017 (Multiplier) 30 years (Credited Service)   =   $2,040 monthly base benefit

    $_____ (FAP)   x   ____ (Multiplier) x ____ years (Credited Service) = $_______ monthly base benefit

    There is also the Temporary Benefit, which is available if you retire under the "Rule of 80" (MSEP 2000) or the "Rule of 90" (MSEP 2011), and it provides you with an additional benefit until age 62 along with your base benefit. The formula for the Temporary Benefit is: Final Average Pay (FAP) x .008 (Multiplier) x Credited Service. At age 62, it ends but your base benefit continues.

    You can log in to myMOSERS to generate a benefit estimate or contact a MOSERS benefit counselor. 

    Since you are only two years from retirement, we encourage you to attend a Ready to Retire session to learn about the process. Registration is now open for 2022 sessions. Log in to myMOSERS to sign up. You can also contact a MOSERS benefit counselor to make a 1-on-1 appointment. Check out our Ready to Retire page and the Retirement Guide for more information.  

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  • 5.5% cost-of-living adjustment (COLA)

    Dec 9, 2021, 10:25 AM By MOSERS
    if mo.state workers get a 5.5% pay raise will retires also ger a raise ?

    No. The Governor’s proposal for a 5.5% cost-of-living adjustment (COLA) and $15 per hour minimum base pay standard is for all active state employees. If it gains legislative approval, it would not affect benefits for anyone who is already retired.

    Retirement benefits for general state employees (including university employees) are calculated using a three-part formula: FAP x Multiplier x Credited Service = Monthly pension benefit payment. Cost-of-living (COLA) adjustments are also based on state statute and depend on the individual’s retirement plan. Retirees do get a COLA each year. See our COLA page for more details. Any change to how pension benefits are calculated would require legislative action and we are not aware of any legislative proposals to change benefit amounts for state retirees.

    Learn more about your benefits in the Summary of Pension Benefit Provisions (All Plans) and by plan on our website: MSEPMSEP 2000, and MSEP 2011.

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  • The 2022 COLA

    Dec 8, 2021, 10:46 AM By MOSERS

     Is there going to be a cost of living increase in January 2022?

    MOSERS will be able to determine the 2022 COLA in mid-January 2022. For most retirees, the rate calculation is based on 80% of the percentage increase in the average Consumer Price Index from one year to the next, with a maximum increase of 5% (minimum 0%).

    When will it be paid? 

    Each year, you will receive a COLA on the anniversary of your retirement date, unless one of these exceptions applies to you:

    • Retirees who converted from MSEP to MSEP 2000 during the conversion window in 2000 have COLAs payable each year in July.
    • Retirees who elected a BackDROP* will have COLAs payable each year on the anniversary of their BackDROP date rather than on the anniversary of their retirement date.
    • MSEP 2011 members hired after January 1, 2011 who leave state employment prior to retirement eligibility, will receive their first COLA in retirement on the second anniversary of their retirement.

      We will send you a notice, either in the mail or in your MOSERS Document Express online mailbox, when the COLA is applied to your monthly benefit payment.

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  • 2022 Education Schedule

    Dec 3, 2021, 11:13 AM By MOSERS

    When will retirement seminars for 2022 be open for registration?

    We are in the process of finalizing our 2022 Education Schedule and anticipate having registration for Ready to Retire sessions open by mid-December. Be sure to watch our Education page for the most recent information!
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  • Increasing Life Insurance After Retirement

    Dec 2, 2021, 3:28 PM By MOSERS
    I am retired.  Can I increase my life insurance? Is this ever an option? 

    You may reduce your optional life coverage amount after retirement; however, you can NOT increase your coverage amount after retirement. Please visit our Life Insurance page in the Retiree section of our website for more details. 

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  • Changing Your Marital Status

    Dec 1, 2021, 2:52 PM By MOSERS
    I could not find a place to change my marital status from married to divorced. Please advise

    The process for changing your name or marital status in your system is different, depending on if you are an active employee or if you are receiving a MOSERS benefit.

    Active Employees

    If you are currently an active state employee, you do not have to provide documentation for a name change or marital status change. You can update your marital status by logging in to myMOSERS. Simply select Personal Information, then click Update Information and scroll down to change your marital status.

    Retirees and Beneficiaries

    If you are currently receiving a pension benefit of any kind, you must submit proof to MOSERS to change your name or marital status. For proof of name change, we accept an updated Missouri driver’s license showing your new name. For proof of name change and marital status change, we can accept a divorce decree or a marriage certificate.

    We also require proof of name change for any inactive vested member or beneficiary applying for survivor or remaining guaranteed payments.

    We accept documents of proof in the form of photo or electronic copy. You can mail, e-mail, or upload documents through myMOSERS, or fax them to us.

    If you are unable to log in, contact a MOSERS benefit counselor for assistance. 

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  • Understanding Employee Contibutions

    Nov 17, 2021, 9:09 AM By MOSERS
     I am trying to find out how to change how much is with held out of my paycheck for retirement but cannot figure out how to do so.

    There are two deductions from your paycheck for retirement purposes.

    MOSERS members who are in MSEP 2011 or the Judicial Plan 2011 are required to contribute 4% of their pay, which is maintained in an account with interest credited annually. This is an automatic withdrawal and cannot be changed. These mandatory contributions help fund your defined benefit pension from MOSERS. While it cannot be changed, you will get your contributions back in some way; whether it be through a guaranteed lifetime monthly income in retirement or through a refund, if you leave state employment.

    Or, you may be referring to MO Deferred Comp. The MO Deferred Comp Plan is a voluntary retirement savings plan designed to help you save additional income to supplement your defined benefit pension and Social Security benefits in retirement. New employees are automatically enrolled at 1% of pay. Unlike your defined benefit pension and Social Security benefits, YOU have control over how much you save in this plan throughout your career, how your dollars are invested, and how you will withdraw those savings in retirement. Visit Just Getting Started to learn more or contact MO Deferred Comp at (800) 392-0925 to make changes. 

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  • Monthly Pension Benefit Formula

    Nov 2, 2021, 3:06 PM By MOSERS

    I would like to ask a question about how re-employment with the State of MO would effect my current retirement plan/pension. I have been away from employment since 2008. If I would be able to attain employment within the next 3-6 months, or so, basically, how does it effect my retirement if I would be employed again with the State of MO, and any other pertinent information for "re-hire" after 13 years?

    Retirement benefits for general state employees (including university employees) are calculated using a three-part formula: FAP x Multiplier x Credited Service = Monthly pension benefit payment

    Learn more about your benefits in the Summary of Pension Benefit Provisions (All Plans) and by plan on our website: MSEP, MSEP 2000, and MSEP 2011.

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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.