I read in the newspaper about our MOSERS’ money, being invested in Iraq/Iran Palestinian people

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I read in the newspaper about our MOSERS’ money, being invested in Iraq/Iran Palestinian people who are terrorists. What can I do to prevent that? Who can I write to speak against such practices? I appreciate your help.
There has been a lot of media coverage in the past few months about one common stock holding of about $130,000 in Arab Bank, which appears to be the issue to which you are referring.
All of MOSERS’ trustees and staff are concerned about doing the right thing for our state employees and retirees, including ensuring that we do not inadvertently invest in companies that support terrorism. There has been discussion among members of the board trustees as to whether divesting of Arab Bank is appropriate or not. This discussion has revolved around the facts that while this bank has been cited and fined by the U.S. Treasury’s Office of the Comptroller of Currency for internal control weaknesses related to international fund transfers, they have not been accused by any federal agency of any conscious act in support of terrorism. There have been numerous banks (including large U.S. banks) fined or cited for similar internal controls weaknesses.
MOSERS was one of the first public retirement systems in the country to develop an anti-terrorism investment policy in early 2004. At the July 2005 board meeting, trustees voted to strengthen the 2004 policy and to develop a process for screening the entire investment portfolio for holdings that might have terrorists’ links. The process is targeted for implementation by year end. Currently, investment holdings are compared to the U.S. Treasury’s Office of Foreign Asset Control (OFAC) list of entities with whom doing business is in violation of U.S. law. Arab Bank is not listed as a prohibited entity.
If you are interested in expressing your opinion on any issue related to the board of trustees, you can send your comments by mail or email to Lori Leeper at:
Lori Leeper
Board Secretary
MOSERS
P.O. Box 209
Jefferson City, MO 65102
loril@mosers.org Print Friendly and PDF

I am eligible to retire but do not plan to retire for about 5 years. What happens to my pension if I die before I retire?

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I am eligible to retire but do not plan to retire for about 5 years. What happens to my pension if I die before I retire?
If you have at least five years of credited service at the time of death, a survivor benefit will be paid to your spouse. Your spouse must be married to you on the date of your death. This benefit will be based on the Joint & 100% Survivor Option. This benefit will be payable to your spouse for the remainder of your spouse’s life.
If you are not married at the time of your death, your natural or legally adopted children may be eligible for a survivor benefit until they reach age 21. This benefit will be a total of 80% of what your monthly base benefit would have been. If you have more than one child under the age of 21, the benefit will be divided equally among them.
If you are not married and have no dependent children, no benefits will be payable. Print Friendly and PDF

Is it true that the only employees who will receive credit for military service under SB 375 are those

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Is it true that the only employees who will receive credit for military service under SB 375 are those who work for the state and are covered by MOSERS for 10 years after January 1, 2000?
SB 375 was considered in the legislature during the 2005 legislative session, but the bill did not pass. However, to answer your question, last year’s SB 375 would have applied only to employees who began working for the state on or after July 1, 2000, once they accrued 10 years of service. Print Friendly and PDF

I realize that SB 375 is probably not going anywhere this year but in case it does in

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I realize that SB 375 is probably not going anywhere this year but in case it does in the future I would like to know why it only applies to MSEP 2000 employees and not the rest of us. Seems a little discriminatory can you explain this for me?
As was stated in our answer to the previous question, SB 375 did not pass. The next legislative session begins in early January 2006 and ends mid-May 2006. If legislation similar to SB 375 is filed during this next session MOSERS will be tracking the bill. MOSERS was not involved in drafting SB 375, so we do not know why this bill was drafted as it was. The cost of SB 375 was estimated to be $2.8 million in the first year after the benefit change. The cost would increase if the group of eligible employees were to be expanded.
To express your opinion about a legislative proposal or to suggest revisions after the bill is filed, you can contact the sponsor of the bill, or your state representative or senator. Print Friendly and PDF

When I was buying out some previous time from another position, I thought I had

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When I was buying out some previous time from another position, I thought I had asked one of your representatives if you have to enroll in backdrop to receive it and the answer was no. Recently, I was told by another staff you do. I am just checking to make sure. Thanks.
You do not have to enroll in the BackDROP to be eligible to receive it. You must simply work at least two years past your normal retirement eligibility date. Once you decide to retire and are eligible for a BackDROP, you must elect it on your retirement election form. This form is completed once MOSERS has received and processed your retirement application. Until that point, you need not enroll or apply for the BackDROP. Print Friendly and PDF

Optional life insurance child coverage - is there an age limit?

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Optional life insurance child coverage - is there an age limit?
You may elect to carry optional coverage for your child(ren) until your child reaches age 23. Disabled children over age 23, who are continuously incapable of self-sustaining employment because of mental retardation or physical handicap and dependent on you for support may be eligible for continuation of coverage if approved by the insurance carrier. Print Friendly and PDF

I was employed by the State of Missouri for over 20 years and have since relocated

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I was employed by the State of Missouri for over 20 years and have since relocated and am currently working for a state agency in Arizona. Can I transfer my years of service to the Arizona retirement system?
No, there is no provision in the law that authorizes MOSERS to transfer service to retirement systems outside of the state of Missouri. Having 20 years of service with MOSERS will provide you with a retirement benefit once you are eligibile to retire. For more information on your specific retirement situation, including estimates, please contact a benefit counselor at (800) 827-1063. Print Friendly and PDF

Thank you for your response to my previous question, but maybe I wasn't clear on my previous question.

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Thank you for your response to my previous question, but maybe I wasn't clear on my previous question. The employee handbook says, "You may receive one month creditable service for every 168 hours of unused sick leave." This indicates to me that when I retire if I have 2,520 hours of unused sick leave, I would be credited with 1 year and 3 months creditable service for calculating benefits. But the Pensions Plus news letter on page 9 says up to one year of creditable service can be accrued for retirement. Does this mean that if I have 2,520 unused sick leave that I will only be credited for 1 year and not 1 year and 3 months?
Assuming that you have 2,520 hours of unused sick leave upon retiring, an additional 1 year and 3 months of service will be added to your length of service (2,520 / 168 = 15 months).
Again, we apologize for the confusion our “Leave” article in the spring 2005 PensionsPlus may have caused. The one year of creditable service to which the article refers only applies to those on a leave of absence for medical purposes. Members can accrue up to 1 year of creditable service while on a leave. This is unrelated to the amount of accrued unused sick leave that may be applied to your total service at the time of retirement. Print Friendly and PDF

If a person retired in 1988 when the basic life insurance was $5,000 and the basic life

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If a person retired in 1988 when the basic life insurance was $5,000 and the basic life insurance is now at $15,000, would they receive $5,000 or $15,000 at the time of death?
Basic life insurance for MOSERS retired members who retired on or after October 1, 1985 remains at $5,000. The $15,000 that you refer to applies to active employees. Print Friendly and PDF

If you are already eligible for retirement and you are working on a BackDROP will

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If you are already eligible for retirement and you are working on a BackDROP will your sick hours (168 hours = 1 month) count toward meeting your BackDROP time, or does it only count toward the amount of your retirement check?
Your unused sick leave cannot be used to meet the eligibility requirements for the BackDROP or extend the BackDROP period. Once you’ve met your BackDROP eligibility requirements, your unused sick leave will only be used to calculate the amount of your retirement benefit and lump sum payment.
For further information, please take a look at our BackDROP brochure or the BackDROP section of our website. Print Friendly and PDF

Can one transfer an IRA bond account into the State Retirement savings system? If so, how is it done?

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Can one transfer an IRA bond account into the State Retirement savings system? If so, how is it done?
No. MOSERS is funded exclusively by state contributions to the trust fund and investment earnings on those contributions. This money is then distributed to individual state employees upon retirement based on a retirement formula. We do not manage individual accounts for each MOSERS member. If you are interested in transferring funds from an IRA, it would be best to contact Missouri’s deferred compensation program (PEBSCO). You may contact them at www.pebscomo.com, or at (800) 392-0925. Print Friendly and PDF

We hear there will be another state or DMH layoff either in September or December? Is that true?

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We hear there will be another state or DMH layoff either in September or December? Is that true?
Your best source for information about potential layoffs, or rumors about layoffs, is your agency personnel office. MOSERS has no role in the layoff determination process, so we are not your best source of information about this issue. Print Friendly and PDF