If I would marry while receiving my pension benefit could I name my spouse as my beneficiary, or would I have to be married before I retire to do that

Posted on
If I would marry while receiving my pension benefit could I name my spouse as my beneficiary, or would I have to be married before I retire to do that?
Yes, assuming you meet one of the following criteria:
  1. You were not married upon retirement and you chose the life income annuity payment option; or
  2. You were married at retirement and elected a joint and survivor payment option and your spouse died resulting in your benefit reverting to the life income annuity.
If you meet one of these criteria and marry (or marry again) after you retire and make your election within one year of your marriage, you may designate your new spouse as the beneficiary under a joint and survivor option. Print Friendly and PDF

Generally speaking, would it be better to cash in one's vacation, or stretch it out and

Posted on
Generally speaking, would it be better to cash in one's vacation, or stretch it out and collect two more months of vacation, sick leave and BackDROP? Thanks.
While we are not in a position to provide a blanket answer to your question, we are available to provide benefit estimates that would help you come to a conclusion based on the factors you mention. Contact one of our benefit counselors at (800) 827-1063 and they will provide the estimates necessary to help you arrive at a more specific answer.
In addition, please contact your agency human resources office to discuss the agency’s personnel rules and policies regarding the use of annual leave prior to retirement. Print Friendly and PDF

Updated Response - My office has been hearing that Governor Blunt is planning

Posted on
Updated ResponseMy office has been hearing that Governor Blunt is planning on prefiling legislation in December 2005 which would raise the current "80 and out" to "85 and out" and would eliminate the BackDROP that a lot of employees have been working for and planning on. Is there any indication this would happen? What would be the effective date if this legislation was passed?
We are not aware of any intention by any legislator to file such legislation on the Governor’s behalf. According to Commissioner of Administration Mike Keathley, there have been no discussions on this subject by the Governor or his staff and no plans to do so. However, if such a bill is filed we would monitor the bill’s progress and notify our members who may be affected.
As a point of clarification, the Governor can not pre-file or file legislation, but s/he could ask a legislator to do so on the Governor’s behalf. Print Friendly and PDF

Hoping to retire soon and heard rumors that there were some hidden charges, (taxes?)

Posted on
Hoping to retire soon and heard rumors that there were some hidden charges, (taxes?) that would show up as well as retirement figures given on paper are not what they wind up to be. Just need to know if my retirement income will cover my retirement expenses.
Your retirement benefit is subject to state and federal income taxes. When you submit your application for retirement, we require you to fill out a tax withholding form that tells us how much you would like to withhold from your benefit each month for federal and state taxes. You may then choose to have other expenses deducted from your benefit, such as medical and life insurance premiums, if you so choose. MOSERS is up front about our retirement process, so rest assured that there won’t be any “hidden costs” from us when you choose to retire. Print Friendly and PDF