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Temporary benefit & early retirement
No, the temporary benefit is not available to those who elect early retirement. You will receive a temporary benefit only if you are a general state employee who is younger than the age of 62 and you retire under normal retirement with the MSEP 2000 (“Rule of 80”) or MSEP 2011 (“Rule of 90”).
If you retire under the "Rule of 80" (MSEP 2000) or the "Rule of 90" (MSEP 2011), in addition to your base benefit, the temporary benefit provides you with an additional benefit until age 62. The formula for the temporary benefit is: Final Average Pay (FAP) x .008 (Multiplier) x Credited Service = Temporary Benefit. At age 62, the temporary benefit ends but your base benefit continues.
Topics
- 1099-R (10)
- Annual Leave (3)
- BackDrop (10)
- Board of Trustees (1)
- COLA (13)
- Credited Service (8)
- Death (1)
- Deferred Compensation (4)
- Divorce (1)
- Early Retirement (4)
- Education (7)
- Employee Contributions (11)
- Final Average Pay (8)
- Former State Employee (5)
- Funding (5)
- Leaving State Employment (18)
- Legislation (5)
- Life Insurance (11)
- Long-term Disability (1)
- Medical Insurance (6)
- Military Service (4)
- MSEP (5)
- MSEP 2000 (5)
- MSEP 2011 (10)
- Normal Retirement (21)
- Payday (4)
- Re-employment (13)
- Retirement Process (10)
- Rule of 80 (9)
- Sick Leave (4)
- Taxes (27)
- Temporary Benefit (4)
- Termination (4)
- Travel Assistance (2)
- Universities (3)
- Vesting (4)
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.