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. 

COVID-19's Effect On MOSER'S Investments

Apr 7, 2020, 09:13 AM by MOSERS
Will the serious losses in the stock market & all the job losses (lay-offs) due to the Coronavirus CVID – 19 pandemic cause eventual cuts in pension benefits? MOSERS is well diversified, but EVERY company’s stock has lost big money so diversification would not matter. High unemployment means the state is $millions short in tax revenue to pay their bills. If the state is forced to make a smaller annual contribution to MOSERS + MOSERS stock market losses = cuts in retiree monthly benefits? Thank U

No, as a retiree or survivor, your MOSERS retirement benefit will not be cut due to financial market losses or decreased state revenue. Your benefit does not go up or down based on economic factors. For general state employees, it is calculated using this formula:

Final Average Pay x Multiplier x Credited Service = Monthly Base Benefit.

These are difficult times and we can certainly understand your concerns. Ultimately, your benefits are an obligation of the state and they are secure. We encourage you to see the question about MOSERS’ Investments on March 17 on Rumor Central for more information on MOSERS’ funding. We will also be sending out a special edition of A Moment With MOSERS with executive director Ronda Stegmann also addressing some of your questions. You can view this video update on our COVID-19 update page

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.