• You experience a qualifying, unforeseeable emergency that causes extreme financial hardship, or
• If your account balance is $5,000 or less – you may elect a one-time, in-service distribution, provided you have not made a contribution during the prior two-year period.

Once you are vested (5 years of service for general state employees), you are eligible to receive a future pension benefit from MOSERS, even if you leave state employment. Once you reach retirement age and complete the retirement process, you will receive a monthly pension payment for your lifetime.

You cannot increase your 4% employee contributions that go into the MOSERS trust fund, but you can certainly increase the amount of supplemental savings that you put in MO Deferred Comp. For many state employees, income in retirement comes from three sources:

1. Your MOSERS defined benefit pension (based on your years of service and final average pay)
2. Social Security retirement benefits
3. Supplemental personal savings, such as with MO Deferred Comp

Another thing to consider is that, even if you aren’t vested, you may leave your employee contributions with the System if you think you might return to work for the state at some point in the future and would like for those years of service to count toward an eventual retirement benefit.  

However, if you leave state employment, you may request a refund of your employee contributions plus any credited interest. By law, there is a 90-day waiting period before we can issue a refund. By taking a refund, your forfeit all your credited service. You can log in to myMOSERS and find your total employee contributions plus any interest. Once logged in, click on the Personal Information tab. Then, click on Contribution Calculator. Scroll all the way to the bottom for your accumulated balance. If you are unable to log in, you may contact a MOSERS benefit counselor for your balance. See our Employee Contributions brochure for more information.

We are unable to see members’ paystubs so we can’t speak definitively to that information. Please speak with your employer regarding your pay stub details.

However, it sounds like you are referring to your employer’s contributions to MOSERS. As a member of MSEP 2011, you are part of the contributory defined benefit pension plan. By law, you contribute 4% of your pay toward your future pension benefits. Your employer also contributes a percentage of your payroll toward your future retirement benefits. Employee and employer contributions go into the MOSERS trust fund. The third and largest source of System funding is investment income. 

You can log in to myMOSERS and find your total employee contributions plus any interest. Once logged in, click on the Personal Information tab. Then, click on Contribution Calculator. Scroll all the way to the bottom for your accumulated balance. If you are unable to log in, you may contact a MOSERS benefit counselor for your balance. 

As a member of MSEP 2011, if you leave state employment, you may request a refund of your employee contributions plus any interest. By taking a refund, you forfeit your service and eligibility for future retirement benefits. Alternatively, when eligible, you can retire and receive a monthly pension benefit for life. Your monthly benefit is based on your final average pay and years of service.

Please see our Employee Contributions brochure (MSEP 2011 & Judicial Plan 2011) and the MSEP 2011 web page for more information. 

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. 

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. 

Refunds of employee contributions are NOT automatic. A former state employee who wishes to request a refund, will need to complete the Member Request for Refund of Employee Contributions form. They must get it notarized and submit it to MOSERS.

Members of MSEP 2011 or the Judicial Plan 2011 who leave state employment may choose to either request a refund (if they don’t anticipate returning to state employment) or leave their contributions with MOSERS (if they do anticipate returning to state employment).

There is a 90-day waiting period from the date of termination or the request (whichever is later) before MOSERS can issue a refund. To learn more, please visit our Refund of Employee Contributions page. 

Pension benefits are calculated using a formula, which is: Final Average Pay (FAP) x a Multiplier* x Credited Service = Monthly Base Benefit

The additional earnings for working in a second job may increase their final average pay. Statutorily required employer and employee contributions must be paid to the System on any such compensation. See MOSERS Board Rule 2-8 for details. 

However, state law says an employee can earn only one day of service credit for each day worked so it would not increase their credited service in terms of retirement eligibility or for calculating their benefit amount.

Below is a simplified example showing how working in an additional position could potentially impact an employee’s benefit. Employees should contact a MOSERS benefit counselor to get an estimate for their particular situation:

Working in one full-time position making $28,307 per year and retiring in MSEP 2000 with 25 years of service:

$28,307/12 months = $2,358.92 as monthly final average pay

FAP ($2,358.92) x Multiplier (0.017) x Credited Service (25) = $1,002.54 monthly base benefit in retirement

Working in one full-time position making $28,307 per year and retiring in MSEP 2000 with 25 years of service plus working in a part-time position at the same rate of pay (an extra 1,000 hours at $13.61 per hour per = $13,610 per year for 3 years):

$41,917/12 months = $3,493.08 as monthly final average pay

FAP ($3,493.08) x Multiplier (0.017) x Credited Service (25) = $1,484.56 monthly base benefit in retirement

*The multiplier for MSEP is 1.6%; the multiplier for MSEP 2000 and MSEP 2011 is 1.7%. 

If you leave state employment prior to becoming eligible for normal retirement, you may request a refund of your employee contributions plus any credited interest. By law, there is a 90-day waiting period before we can issue a refund. By taking a refund, your forfeit all your credited service. Or, you may leave your contributions with the System if you think you might return to work for the state at some point in the future and would like for those years of service to count toward an eventual retirement benefit. See our Employee Contributions brochure for more information.