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Reduced Benefit

Mar 17, 2020, 16:16 PM by MOSERS

I am in MSEP11 and have vested.  I may leave service at 65, but not retire until my normal retire age of 67.  Will I still receive a reduced benefit?

No, your benefit will not be subject to reduction if you are vested, leave service, then retire at age 67. (The reduction you are referring to is for “early retirement” and is a reduction of ½ of 1% (.005) off your base benefit for each month your age is younger than normal retirement.)

However, if you continue working until you are 67, then your benefit would ultimately be higher because you would have more service. When you apply for retirement, your base benefit will be calculated using a formula that takes into account your final average pay and your credited service. For a more in-depth look at which option may be best for you, we encourage you to use our Comparison Calculator to compare various scenarios over time or contact one of our benefit counselors.

Benefit counselors are available:

Monday - Friday
8:00 am - 12:00 pm
1:00 pm - 4:30 pm

Contact Us:

(800) 827-1063 toll-free
(573) 632-6100 in Jefferson City

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